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Avison Young brokers $3M sale of Spartanburg industrial property
Greenville, SC –Avison Young announced today that it has arranged the sale of a 74,000-square-foot (sf) warehouse/manufacturing facility located at 109 Belton Drive in Spartanburg, South Carolina to Pan Technology. Pan Technology, a manufacturer of specialty, high performance industrial inks and coatings purchased the building for $3,000,000.
PPG Industries, the seller, was represented by Chris Loyd, Senior Vice President; Gary Lyons, Principal; Reeves Willis, Associate, and Rob Howell, Senior Vice President. The team fielded multiple offers on the property and closed at above asking price.
The property was built in 2000 and is located just off Interstate 85.
“This facility was in high demand and we received multiple offers,” said Lyons. “The Greenville-Spartanburg area continues to see a significant amount of demand for industrial assets as the Upstate has been experiencing unprecedented economic activity and growth.”
Pan Technology, headquartered in New Jersey, is expanding operations to the facility in Spartanburg.
PPG Industries, the seller, was represented by Chris Loyd, Senior Vice President; Gary Lyons, Principal; Reeves Willis, Associate, and Rob Howell, Senior Vice President. The team fielded multiple offers on the property and closed at above asking price.
The property was built in 2000 and is located just off Interstate 85.
“This facility was in high demand and we received multiple offers,” said Lyons. “The Greenville-Spartanburg area continues to see a significant amount of demand for industrial assets as the Upstate has been experiencing unprecedented economic activity and growth.”
Pan Technology, headquartered in New Jersey, is expanding operations to the facility in Spartanburg.
About Avison Young
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2022 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 11 consecutive years.
www.avisonyoung.com
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2022 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 11 consecutive years.
www.avisonyoung.com