Greenville real estate firm partners on $33M purchase of Class A facility

An Upstate commercial real estate firm has partnered with a global real estate investment company to purchase a Class A industrial facility.

RealOp Investments, a Greenville-based commercial real estate investment firm, and a commingled fund managed by global real estate investment company Kennedy Wilson, announced the joint acquisition of Inland Woods Logistics Center, a 430,700-square-foot Class A industrial facility located in the high-growth Greenville-Spartanburg corridor of Upstate South Carolina, for $33.1 million, according to a news release.

The acquisition marks Kennedy Wilson’s first commercial equity investment in the Southeastern United States, signaling the firm’s expansion into the region, while furthering RealOp’s strategic growth in the industrial sector, the release stated.

Located at 1127 Woods Chapel Road, Inland Woods offers connectivity along the primary distribution corridor between Charlotte and Atlanta, according to the release. The cross-dock facility is less than two miles from the expanding Inland Port Greer and under three miles from BMW’s manufacturing plant, positioning it to serve “just-in-time, just-in-sequence” supplier demand, the release stated. Located on over 39 acres and directly across from a new substation enabling need-based power increases, the property is well-suited to meet the needs of advanced manufacturing and distribution tenants, the release stated.

Delivered in warm shell condition, the facility features ESFR sprinklers, dock equipment, LED lighting, and substantial infrastructure — allowing the ownership team to quickly reintroduce the first-generation space to the market as either a single- or multi-tenant offering, the release stated.

“We are excited to partner with RealOp Investments on this significant acquisition and to expand Kennedy Wilson’s investment management platform into the Southeast,” said Evan Kantor, head of Kennedy Wilson’s Commercial Investment Group in the release. “The region is primed to benefit from strong manufacturing investment, growing port activity, and sustained population growth, and we believe Inland Woods is well-positioned to serve as a hub for businesses in this dynamic market.”

Construction will begin immediately on a best-in-class speculative office suite to meet evolving tenant requirements and accelerate lease-up, the release stated.

“We continue to have strong conviction in the long-term fundamentals of the Upstate market,” said Reggie Bell, CEO of RealOp Investments, the release stated. “With limited new industrial construction underway, we expect the market to absorb current supply and return to a balanced environment. Inland Woods is ideally located to capture this demand, and our partnership with Kennedy Wilson strengthens our ability to execute on the value-add business plan.”

CBRE’s Trey Pennington, Jeff Benedict, and Tripp Speaks have been engaged to lead leasing efforts. Esmael Hill with The Net Lease Group represented the seller in the transaction.