News Summary
CBRE has facilitated a $25.68 million acquisition loan for RealOp to purchase the Cubes at Inland Woods industrial facility in Spartanburg, South Carolina. This strategic investment aims to leverage the thriving industrial market in the region and adapt the facility for future multi-tenant use. The newly constructed Class A industrial facility spans 430,700 square feet and offers excellent features and location for potential tenants. RealOp plans to reposition the property to attract mid-size industrial companies, expected to start leasing in September 2025, emphasizing the area’s growing demand for industrial space.
Spartanburg, South Carolina
CBRE has successfully arranged a $25.68 million acquisition loan for RealOp, enabling the purchase of the Cubes at Inland Woods industrial facility. This investment aims to capitalize on the robust industrial market in the region while positioning the property for future multi-tenant use.
Details of the Acquisition Loan
The financing for the Cubes at Inland Woods, a newly constructed 430,700-square-foot Class A industrial facility, was facilitated by the CBRE Capital Markets’ Debt & Structured Finance team. Key members of the financing team included Brian Linnihan, Mike Ryan, JP Cordeiro, and Richard Henry. The loan was underwritten by National Life Group, reflecting confidence in the property’s market potential.
Strategic Location
Cubes at Inland Woods is strategically located in the Spartanburg west submarket of Greenville, South Carolina, and lies less than three miles from Interstate 85. Its proximity to Inland Port Greer and the Greenville-Spartanburg International Airport enhances its appeal for industrial users, allowing for efficient distribution and logistics.
Facility Features
The industrial facility boasts impressive design specifications with 36-foot clear heights, facilitating a wide range of industrial activities. The property includes 119 dock doors and four drive-in doors, alongside a 130-foot truck court to accommodate large vehicle access. Additionally, it features 127 trailer parking spaces and 224 auto parking spaces, ensuring convenience for both tenants and their operations.
Market Trends and Future Plans
The Greenville-Spartanburg industrial market has demonstrated compelling fundamentals, with a recorded net absorption of 7.1 million square feet in 2024, marking it as the third-best year on record. Notably, the Spartanburg West submarket contributed significantly to this figure, accounting for 2.1 million square feet of net absorption. Currently, there are only 350,000 square feet of new construction projects underway in the area, indicating a strong demand for industrial space.
RealOp’s Repositioning Strategy
RealOp plans to reposition the Cubes at Inland Woods for multi-tenant usage, which targets mid-size industrial companies needing immediate occupancy. Their strategy includes speculative office buildouts and demising improvements to enhance the property’s functionality and appeal. Initial leasing activity for the facility is expected to commence in September 2025, aligning with the anticipated demand dynamics in the region.
About CBRE Group Inc.
CBRE Group Inc., based in Dallas, is recognized as the world’s largest commercial real estate services and investment firm, boasting a position in the Fortune 500 and S&P 500 rankings by revenue in 2024. Their expertise in structuring financial arrangements and comprehensive market insights played a critical role in facilitating this acquisition.
The acquisition of the Cubes at Inland Woods underscores the ongoing growth and investment potential of the Spartanburg area, providing opportunities for both investors and tenants in an expanding industrial landscape.
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Additional Resources
- GSABusiness: CBRE Loan for Cubes at Inland Woods
- Greenville Business Magazine: Acquisition Loan for Cubes at Inland Woods
- Colliers: Leasing at The Cubes at Fort Prince
- Greenville Business Magazine: Geographic Assisted Mass Appraisal System
- GSABusiness: Publix Upstate Expansion
- Wikipedia: Spartanburg, South Carolina
- Google Search: Industrial Real Estate Greenville Spartanburg
- Google Scholar: Industrial Market Trends South Carolina
- Encyclopedia Britannica: South Carolina
- Google News: Spartanburg Industrial Real Estate
Author: STAFF HERE SPARTANBURG
The SPARTANBURG STAFF WRITER represents the experienced team at HERESpartanburg.com, your go-to source for actionable local news and information in Spartanburg, Spartanburg County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Spartanburg International Festival, Spartanburg ArtWalk, and motorsport events at Spartanburg Speedway. Our coverage extends to key organizations like the Spartanburg Area Chamber of Commerce and the Spartanburg Regional Healthcare System Foundation, plus leading businesses in manufacturing and textiles that power the local economy such as BMW Manufacturing and Milliken & Company. As part of the broader HERE network, including HEREAiken.com, HEREBeaufort.com, HEREChapin.com, HERECharleston.com, HEREClinton.com, HEREColumbia.com, HEREGeorgetown.com, HEREGreenwood.com, HEREGreenville.com, HEREHiltonHead.com, HEREIrmo.com, HEREMyrtleBeach.com, HERENewberry.com, HERERockHill.com, and HERESpartanburg.com, we provide comprehensive, credible insights into South Carolina's dynamic landscape.
