Forward Sale Speaks to Market Strength and Developer’s Reputation
Strategic Capital Partners Sells Port 290 to Boston-based REIT
June 16, 2022 – Indianapolis – Indianapolis-based Strategic Capital Partners, LLC (“SCP”) is pleased to announce the forward sale of Port 290 in the Greenville-Spartanburg (Upstate) South Carolina market, to STAG Industrial, Inc. (NYSE: STAG) a real estate investment trust focused on the acquisition and operation of industrial properties throughout the United States.
Located in Greer, S.C., Port 290 industrial park sits halfway between Greenville and Spartanburg. The 91-acre site lies north of Interstate 85, directly off Highway 290 and adjacent to rail-served Inland Port Greer. This Class A development will deliver approximately 717,000 square feet of Class A industrial space in two buildings offering cross-docked and rear-load options. (Buildings A and B are located at 1817 and 1809 E. Poinsett Street Extension.) Construction is underway and SCP anticipates project completion in May 2023.
“Port 290’s proximity to the airport, the port, Highway 290 and I-85 make it a strategic location. Future tenants and their employees will enjoy a short four-mile drive to -85 and only seven minute drive to the Greenville-Spartanburg International Airport.”
SCP’s CEO Richard Horn said, “Port 290’s proximity to the airport, the port, Highway 290 and I-85 make it a strategic location. Future tenants and their employees will enjoy a short four-mile drive to I-85 and only seven minutes to the Greenville-Spartanburg International Airport.”
In addition, the Port 290 location is only four miles from BMW Group Plant Spartanburg. According to its website, BMW Manufacturing employs 11,000 people at the seven million square-foot campus where they produce more than 1500 cars daily, making it a significant economic engine in the Upstate South Carolina region.
The Port 290 development team includes local and national firms. Design & Construction Insight, LLC (DCI) serves as construction manager. Charlotte-based Paul Woody serves as project architect, Carroll Daniel Construction’s Greenville office is the general contractor and another Greenville firm, Seamon Whiteside serves as project engineer.