Invesco Real Estate acquired Crossroads Logistics Park in Spartanburg, South Carolina, for about $100 million. Commercial Property Executive reported a $99.5 million sale price based on Spartanburg County public records. Crossroads is a fully leased, three-building logistics property totaling 814,320 square feet. Brennan Investment Group and Grandview Partners sold the industrial park.
Table of Contents
- What did Invesco buy?
- Who uses the property?
- Why is the location important?
- How certain is the $100 million figure?
- What does the acquisition mean?
What did Invesco buy?
Crossroads Logistics Park includes two 168,480-square-foot buildings and a 477,360-square-foot warehouse. The largest building was completed in 2023 and operates as a cross-dock facility, allowing goods to move efficiently between incoming and outgoing trucks.
The park reached full occupancy after its final suite was leased during the marketing process. Its tenants have an average remaining lease term of more than five years, according to JLL's transaction announcement.
Who uses the property?
The tenant base spans several parts of the industrial economy. It includes a Tier I automotive supplier, an electrical-infrastructure and switchgear manufacturer, a building-supply manufacturer and distributor, logistics providers, and consumer-products manufacturers.
That mix gives Invesco exposure to multiple industrial uses rather than a single company or narrow business line. It also means the property's future performance will depend on different tenants' operations and renewal decisions.
Why is the location important?
Crossroads sits near the intersection of Interstates 85 and 26. The property also has access to Inland Port Greer and the BMW manufacturing campus, connecting it to major automotive and freight activity in the region.
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JLL says the site is within a four-hour drive of more than 18.7 million consumers. That reach helps explain why a logistics property in Spartanburg could attract institutional investment.
How certain is the $100 million figure?
The $100 million figure is a reasonable shorthand, but it is not the price disclosed in the official seller-side announcement. JLL represented the sellers and announced the transaction without releasing financial terms.
The $99.5 million amount comes from Commercial Property Executive's reporting on Spartanburg County public records. Readers should therefore treat the price as reported public-record information, not as a figure stated by JLL.
What does the acquisition mean?
Invesco bought a property producing contracted tenant income, rather than an empty development awaiting occupants. Full leasing and more than five years of average remaining term provide a measure of near-term income visibility.
That protection has limits. Future returns still depend on tenant renewals, operating performance, and conditions in the local industrial market. A fully leased building can face risk when leases expire or demand changes.
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