Oct
12

Magna Distribution Center Sold for $80/sf

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Magna Distribution Center for PR EmailHolliday Fenoglio Fowler, L.P. has announced the $18.5 million sale of Magna Distribution Center, a 229,950-square-foot, fully leased, Class A+ warehouse and distribution facility in the Greenville-Spartanburg area of Moore, South Carolina.

Recently completed in 2017, Magna Distribution Center is a build-to-suit for Magna Seating of America, Inc., an industry-leading advanced automotive seating manufacturer. The 229,500-square-foot building has an expansion capacity of approximately 50,000 square feet and features 214,450 square feet of production space, 15,500 square feet of office space, LED lighting, 50-by-50-foot column spacing, 32-foot clear height, 30 dock-high doors, 13 knock-out panels, 20 trailer stalls and 250 employee parking spaces. Situated on 19.71 acres within the 882-acre master-planned Tyger River Industrial Park North, Magna Distribution Center is situated along Route 290 and has access to Interstates 26 and 85, the industrial “backbone” of the southeast. Additionally, the property is in the Route 290 Industrial submarket, a major automotive hub that is approximately 10 miles from BMW’s 1,150-acre Greer manufacturing plant.

The HFF investment sales team representing the seller consisted of senior managing director Chris Norvell and director Patrick Nally. The seller was SunCap Property Group. A private investor purchased the asset.

Categories : Spartanburg

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