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1360 Old Georgia RdAvailable Parcel

1360 Old Georgia Rd, Roebuck, South Carolina 29376

1360 Old Georgia Rd parcel for sale

Last Updated: 12/06/2019
Property Type:Land
Listing Type:Sale
Size:154,000 SF
Price:$4,995,000.00
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1360 Old Georgia Rd - Image 1

Listing Overview

Listing Description

The Offering. CBRE, on behalf of the ownership, is pleased to exclusively offer to qualified investors, the opportunity to purchase 1360 Old Georgia Road, a fully leased, single tenant industrial property situated on 20.03 acres of land. 1360 Old Georgia Road is located within the Spartanburg East submarket and boasts excellent proximity to I-26 and Highway 211.. 1360 Old Georgia Road is perfectly located, both in terms of access to Highway 221 and Interstate 26, and the vast economic potential of surrounding area. This property only 3.7 miles from I-26, which originates in in Virginia and connects Southeastern major markets as well as Charleston, SC. This industrial corridor has seen a recent shipping boom to immediate areas in the Southeast, with industrial submarkets in the Greenville-Spartanburg, Investment Highlights. Investment Highlights. Asking Price: $4,995,000. Price PSF: $32.44. Cap Rate: 8.27%. Record absorption in GSP industrial market. 5/12 years remaining on tenant's original lease term. 3% annual escalations on rental schedule. Below market rent compared to overall market. Close proximity to Interstate 26. 100% leased to national credit tenant, Market. Industrial Market. During the fourth quarter of 2018, the Greenville-Spartanburg industrial market continued its positive net absorption streak for the fourteenth consecutive quarter with a record 3.7 million sq. ft. of net absorption. More than 4.5 million sq. ft of industrial product is currently under construction with roughly 35% having been classified as Class A speculative development. Recent successes of large speculative developments suggest absorption should remain strong in 2019.. Consistent absorption and growing asking rates for Class A warehouse have bolstered developer interests in the market, helping to usher in a period of unprecedented speculative development. While the space is getting absorbed quickly, the size of product being delivered is significantly larger than has been delivered in the past. The majority of new speculative product currently available or under construction is larger than 200,000 sq. ft., indicating that tenants interested in smaller Class A facilities do not have as many options as the market dynamics would suggest.. In response to the shift toward larger speculative development, the availability of smaller Class A warehouse facilities has diminished. Depending upon users’ needs and space requirements, large speculative projects are often above and beyond the needs of mid-size industrial users. Vacancy should continue to decrease for mid-size industrial product even with the completion of several new speculative projects in the coming quarters.. Much of Greenville-Spartanburg’s industrial growth may be attributed to the market’s geographic location and close proximity to both the Port of Charleston as well as the Inland Port of Greer. Opened in 2013, the Greer Inland Port has exceeded its highest expectations, warranting the opening of a second inland port in Dillon, South Carolina. In addition, Georgia state officials recently announced that construction on the Inland Port of Gainesville would begin in 2019, affording yet another economic incentive to the Greenville-Spartanburg industrial market.

Listing Details

Property Type:Land
Listing Type:Sale
Size:154,000 SF
Price:$4,995,000.00

Land Overview

Land Details

Primary Use:
Size:154,000 SF
Zoning:
Secondary Use:

Location

1360 Old Georgia Rd, Roebuck, South Carolina 29376

Contact

C

CCIM Tripp Sellers

tripp.sellers@cbre.com

Direct: 864-527-6021

Listing Inquiry