Atlanta Property Group Enters South Carolina Market

Atlanta Property Group has entered the Greenville, S.C., market with the acquisition of a Class A distribution center spanning 173,000 square feet in Greer, S.C. Fastener company Lindstrom previously owned the asset, CommercialEdge information shows.

The facility at 6 Shelter Drive had been under the same ownership for nearly two decades and was fully leased at closing. The 2004-built warehouse features 32-foot clear heights, a 140-foot truck court and an ESFR sprinkler system.

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The 10-acre property is roughly 13 miles east of downtown Greenville, less than 1 mile from Interstate 85. Greenville-Spartanburg International Airport operates about 2 miles away.

Atlanta Property Group has acquired 15 industrial assets since 2022. By year’s end, the company plans to invest $100 million of committed equity into distribution centers in markets such as Atlanta, Charlotte, N.C., Greenville, Savannah, Ga., Nashville, Tenn., and Raleigh, N.C., as well as Central Florida metros.

Greenville’s industrial assets sell for higher prices

Greater Greenville will continue to attract distribution tenants due to its location along I-85 and business friendly climate, as well as the ongoing reshoring efforts, APG Partner Smith Haverty said in prepared remarks.

During the first quarter, metro Greenville industrial assets traded for nearly $100 per square foot, up 17.8 percent year-over-year, according to CommercialEdge data. However, just 233,494 square feet changed hands—a sharp decline from the 1.9 million square feet that sold during the first three months of 2024.