{"id":1004664632,"date":"2023-05-24T22:53:09","date_gmt":"2023-05-25T06:53:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004664632"},"modified":"2023-05-24T22:53:11","modified_gmt":"2023-05-25T06:53:11","slug":"blue-vista-jv-buys-56-acre-industrial-property","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/blue-vista-jv-buys-56-acre-industrial-property\/","title":{"rendered":"Blue Vista JV Buys 56-Acre Industrial Property"},"content":{"rendered":"<div id=\"attachment_1004664634\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/1298-New-Cut-Road-e1684922408740.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004664634\" data-attachment-id=\"1004664634\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/blue-vista-jv-buys-56-acre-industrial-property\/1298-new-cut-road\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/1298-New-Cut-Road-e1684922408740.jpg\" data-orig-size=\"3000,2250\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"1298 New Cut Road\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;1298 New Cut Road. Image courtesy of Blue Vista Capital Partners&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/1298-New-Cut-Road-e1684922408740.jpg?w=1024\" class=\"wp-image-1004664634 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/1298-New-Cut-Road-e1684922408740.jpg?w=300\" alt=\"1298 New Cut Road. Image courtesy of Blue Vista Capital Partners\" width=\"300\" height=\"225\" \/><\/a><p id=\"caption-attachment-1004664634\" class=\"wp-caption-text\">1298 New Cut Road. <em>Image courtesy of Blue Vista Capital Partners<\/em><\/p><\/div>\n<p>A joint venture between<strong> Blue Vista Capital Management <\/strong>and <strong>IP Capital Partners <\/strong>has acquired a 56-acre industrial site in Spartanburg, S.C., which consists of a 201,718-square-foot manufacturing and warehouse building and 31 acres of land. The previous owner was <strong>Schaeffler Group<\/strong>, according to CommercialEdge data.<\/p>\n<p>Completed in 1975, the building is located at 1298 New Cut Road. It features four dock high doors, three drive-in doors, multiple points of ingress and egress and two transformers offering 8,000 amps of power at 480 volts, along with 300 parking spaces. The property is also fully air conditioned.<\/p>\n<p>Situated close to interstates 85 and 26, and within accessible range of Interstate 585, the property is some 16 miles from Greenville-Spartanburg International Airport and 15 miles from Inland Port Greer. It is also roughly 70 miles from Charlotte Douglas International Airport and less than 8 miles from Spartanburg Downtown Airport.<\/p>\n<p>Blue Vista Managing Principal &amp; Co-Head of Equity Brandon Goetzman stated in prepared remarks that there is significant demand for mid-sized industrial space in the South Carolina Upstate region. Nationally, <a href=\"https:\/\/www.commercialsearch.com\/news\/how-debt-costs-corporate-maturities-impact-industrial-demand\/\">demand for industrial assets<\/a> remains healthy, but is not immune to economic crosswinds. The 65 million square feet absorbed in the first quarter of 2023 still represents a 40 percent drop from 2022\u2019s last quarter, a Newmark report shows.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The site includes a 201,718-square-foot building and 31 acres of undeveloped land.<\/p>\n","protected":false},"author":3120,"featured_media":1004664634,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742,32781],"tags":[35103,43898,38188],"class_list":["post-1004664632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-southeast","tag-blue-vista-capital-management","tag-ip-capital-partners","tag-schaeffler-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Blue Vista JV Buys 56-Acre Industrial Property - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"A joint venture between Blue Vista Capital Management and IP Capital Partners has acquired a 56-acre industrial site in Spartanburg, S.C.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/blue-vista-jv-buys-56-acre-industrial-property\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blue Vista JV Buys 56-Acre Industrial Property\" \/>\n<meta property=\"og:description\" content=\"A joint venture between Blue Vista Capital Management and IP Capital Partners has acquired a 56-acre industrial site in Spartanburg, S.C.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/blue-vista-jv-buys-56-acre-industrial-property\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-25T06:53:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-25T06:53:11+00:00\" \/>\n<meta name=\"author\" content=\"Radu Corfus\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/1298-New-Cut-Road-e1684922408740.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/blue-vista-jv-buys-56-acre-industrial-property\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/blue-vista-jv-buys-56-acre-industrial-property\/\",\"name\":\"Blue Vista JV Buys 56-Acre Industrial Property - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/blue-vista-jv-buys-56-acre-industrial-property\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/blue-vista-jv-buys-56-acre-industrial-property\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/1298-New-Cut-Road-e1684922408740.jpg\",\"datePublished\":\"2023-05-25T06:53:09+00:00\",\"dateModified\":\"2023-05-25T06:53:11+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a04f9fc8d7ed936167c8786eb77e39c2\"},\"description\":\"A joint venture between Blue Vista Capital Management and IP Capital Partners has acquired a 56-acre industrial site in Spartanburg, S.C.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/blue-vista-jv-buys-56-acre-industrial-property\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/blue-vista-jv-buys-56-acre-industrial-property\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/blue-vista-jv-buys-56-acre-industrial-property\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/1298-New-Cut-Road-e1684922408740.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/1298-New-Cut-Road-e1684922408740.jpg\",\"width\":3000,\"height\":2250,\"caption\":\"1298 New Cut Road. 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