Alternative investment firm Stonepeak recently announced that it had completed the sale of Omni Industrial Campus, a 1.3-million-square-foot logistics campus in Charleston, S.C. The sale price for the three-building portfolio was not disclosed.
Located along I-26 between I-95 and the Port of Charleston, Omni Industrial Campus is ideally located for logistical operations in the greater metro area and beyond. One of the buildings in the campus is a 360,000-square-foot, single-tenant manufacturing facility, while the other two are categorized as warehouse and distribution space properties totaling 364,000 and 606,000 square feet, respectively.
Demand for industrial space in Charleston — especially well-connected properties like Omni Industrial Campus — is being driven up by the city’s status as a growing shipping hub, as well as its robust manufacturing sector. According to commercial real estate research platform CommercialEdge, the Charleston industrial real estate market currently encompasses more than 4.7 million square feet of industrial real estate.
“This transaction demonstrates Stonepeak’s ability to identify and execute investments at the intersection of real estate and infrastructure,” said Phill Solomond, senior managing director and head of real estate at Stonepeak. “We leveraged insights from our leading infrastructure platform to build conviction around this submarket, which has seen strong logistics growth as a direct result of the expanding Port of Charleston.”
New York City-based Stonepeak specializes in infrastructure and real estate assets. Recently, the company has invested in properties with strong infrastructure characteristics, like the company’s latest Charleston sale, which it developed itself. Sectors of focus include supply chain, residential, health care and tech-focused real estate. Another recent area of focus for the organization has been last-mile delivery logistics as it owns and operates mission-critical, last-mile supply chain assets in densely populated infill locations.
The company also recently completed its acquisition of Textainer — one of the world’s largest lessors of intermodal containers — highlighting its ongoing commitment to logistics-oriented investments. The acquisition cost the new owner $7.4 billion.
If you’re looking for industrial space for your business, here’s what some of the fastest-growing industrial markets in the U.S. have to offer: