Crossroads Logistics Park

151 International Park Drive, Spartanburg, SC, 29301, US

Description

Jones Lang LaSalle Americas, Inc. ("JLL"), as exclusive advisor, has been retained to market the opportunity to acquire the fee simple interest in Crossroads Logistics Park (the "Project" or “Offering”), three (3) Class A logistics assets totaling 814,320 square feet. Currently 91.4% leased to five (5) tenants, the Project provides investors with durable income while existing first-generation vacancy presents a rare value-add opportunity in the high-growth Greenville-Spartanburg industrial market.

Crossroads Logistics Park features an 8.0-year WALT and contractual rent escalations averaging 3.5%, supporting secure in-place cash flow with embedded contractual growth. The Project’s tenant roster is anchored by high-quality users such as ZF Chassis Systems, a ZF Foxconn company, Siemens Corporation (S&P: AA-) and Holcim Solutions (S&P: BBB+), among others.

The Offering represents an attractive opportunity to acquire a scaled, Class A modern logistics portfolio in the fundamentally strong Greenville-Spartanburg market. Anchored by credit tenancy, investors are well positioned to capitalize on a rare lease-to-core opportunity through the lease-up of a brand-new, first-generation end cap suite.

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Attributes

Building area net

75,682 m²

Number of buildings

Occupancy

91.4%

Year built

2023

Land area gross

7 m²

WALT

8 years

Media

Investment Highlights

IMMEDIATE VALUE-ADD OPPORTUNITY

• 70,200 SF of brand-new, first-generation space for lease

• Readily leasable, white-boxed end cap suite features 2,310 SF of spec office, 15 docks with eight (8) packages, one (1) drive-in door, 25 FC lighting and 400 amp panel

• The Greenville-Spartanburg market has witnessed 13.6 MSF of positive net absorption over the past 24 months

SECURE EXISTING CASH FLOW ANCHORED BY CREDIT TENANCY

• 91.4% leased to five (5) diverse tenants with 8.0 years WALT

• Embedded contractual yield expansion via 3.5% weighted average annual escalations

• ZF Chassis (“ZF”), a subsidiary of ZF Foxconn Chassis Modules, a world-leading automotive technology company with a combined $293 billion in annual revenue (FY 2025). ZF recently invested $55.4 million into their facility at the Project

• Investment grade tenants in Siemens (S&P: AA-) and Holcim Solutions (S&P: BBB+)

INSTITUTIONAL-QUALITY, VERSATILE CONSTRUCTION

• Functional design appeals to a broad tenant base

• Multiple storefronts and building configurations provide flexible leasing optionality

• Buildings already demised with move-in ready end cap suite

• Ample trailer storage

VALUABLE TAX INCENTIVES

• 30-year fee in Lieu of Tax (FILOT) agreement that fixes the property tax obligations for the life of the incentive

• Issuance of new FILOT incentive agreements have been curtailed in Spartanburg County, making existing FILOT agreements exceptionally valuable for long-term ownership

HIGHLY CONNECTED LOGISTICS LOCATION ONE-TURN OFF I-85

• 1.2 miles from I-85, providing direct access to the high-growth Sunbelt markets of Atlanta to the south and Charlotte, Greensboro-Winston-Salem, Raleigh-Durham and Richmond to the north

• Less than five (5) miles from I-26, providing direct connectivity to the Port of Charleston terminals and the Port of Savannah via I-95

• Seamless access to the primary demand drivers of the Greenville-Spartanburg market including Inland Port Greer (10.3 miles), BMW Group’s 8MSF manufacturing plant (10.1 miles) and Greenville-Spartanburg International Airport (11.1 miles)

• Controlled access and traffic flow via signaled logistics park entrance