Equus Sells South Carolina Industrial Asset for $48M

95 Inland Port Logistics Center. Image courtesy of Equus Capital Partners Ltd.

One year after delivering 95 Inland Port Logistics Center in Dillon County, S.C., Equus Capital Partners Ltd., has found a new owner for the warehouse logistics property. The company sold the fully occupied, 373,100-square-foot industrial facility to IPD South LLC in a transaction valued at $47.5 million.

Situated near Inland Port Dillon on a 30-acre site that Equus identified in 2018, 95 IPLC began to take shape in February 2020 when the company’s development division, Equus Development LP broke ground on the speculative project. The facility, which sits practically a stone’s throw from Interstate 95 and within 5 miles of the North Carolina/South Carolina state line, reached completion in the first quarter of 2021. By then, Harbor Freight Tools, a neighbor in a 3 million-square-foot distribution warehouse, had committed to a long-term lease of the building.

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95 ILPD is a state-of-the-art facility offering such coveted features as 32-foot clear height, energy-efficient LED interior lighting and 100 percent air-conditioning. CBRE‘s Frank Fallon and Bob Barrineau represented Equus in the sale of the property.

The port as a stimulant

As the U.S. struggled with supply chain issues in 2021, the South Carolina Ports recorded their best calendar year in history, handling an unprecedented level of cargo, according to South Carolina Ports Authority. Inland Port Dillon, which only reached completion in 2018, handled a total of 13,325 rail moves for the fiscal year.

The local port—one of the state’s two rail-served ports—has proved a boon for the Dillon County area, and Equus is helping the region capitalize on the windfall. The company has acquired 140 acres of additional land roughly a quarter-mile from 95 IPLC, where it can develop as much as 1.4 million square feet of new industrial product.