CBRE secures $25.6M loan for Spartanburg industrial site

CBRE has arranged a $25.68 million acquisition loan on behalf of RealOp for Cubes at Inland Woods, a new 430,700-square-foot Class A industrial facility in the Spartanburg west submarket of Greenville.

The CBRE Capital Markets’ Debt & Structured Finance team of Brian Linnihan, Mike Ryan, JP Cordeiro and Richard Henry sourced the financing from National Life Group, according to a news release from the firm.

Cubes at Inland Woodsin Duncan  is less than three miles from Interstate 85 and within proximity to Inland Port Greer and Greenville-Spartanburg International Airport. The property features 36-foot clear heights, 119 dock doors, four drive-in doors, a 130-foot truck court, 127 trailer parking spaces and 224 auto parking spaces, the release stated.

“This financing reflects the strength of the asset, the sponsor’s proven track record and the compelling fundamentals of the Greenville-Spartanburg industrial market,” Brian Linnihan, CBRE vice chairman, said in the release. “RealOp is well positioned to capitalize on rising tenant demand and limited new supply in one of the Southeast’s most dynamic logistics corridors.”

According to CBRE research, the Greenville-Spartanburg market recorded 7.1 million square feet of net absorption in 2024, its third-best year on record. The Spartanburg West submarket alone accounted for 2.1 million square feet, while only 350,000 square feet of new construction is currently underway.

RealOp plans to reposition the property for multi-tenant use, targeting mid-size industrial users with immediate occupancy needs, the release said. Plans include speculative office buildouts and demising improvements, with initial leasing activity expected to begin in September 2025.

CBRE Group Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm based on 2024 revenue, according to the release.