Anderson Warehouse Sold for $25/SF


Anderson Warehouse LLC acquired the industrial building at 2 Green Tree Rd. in Anderson, SC for $3.05 million, or about $25 per square foot.

Capital Investments Fund was the prior owner. Its managing members are currently charged with securities fraud, and this sale was an attempt to recover monies from their holdings. At the time of sale the asset was fully leased to Inergy on a triple-net basis. The tenant will remain in the property.

Built in 2002, the 121,000-square-foot warehouse sits on 17.3 acres in the Outlying Anderson County Industrial submarket. It features 2.5% office build-out, eight loading docks and two drive-ins, 28-foot clear heights, a fenced lot, and building signage.

The buyer financed the acquisition in-part with a new mortgage in the amount of $2.48 million provided by TD Bank NA. No brokers were involved in the direct sale. CIF Property Holdings LLC served as court-appointed trustee over the seller.

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