1 Marcus Drive in Greenville, South Carolina — Courtesy: Denholtz
By Joshua Burd
Denholtz has purchased a nearly 104,000-square-foot flex industrial park in South Carolina, marking the latest addition to its fast-growing portfolio in the Southeast.
The firm, which is based in Red Bank, paid an undisclosed price for the four-building complex at 1 Marcus Drive in Greenville. The property is nearly fully leased to a diverse tenant mix, thanks in part to its location just off Interstate 385 and minutes from Interstate 85 and features such as clear ceiling heights of nearly 17 feet, a full wet sprinkler system, 21 dock doors, seven drive-ins and on-site surface parking for more than 350 cars.
Denholtz has now doubled its portfolio in South Carolina after acquiring the 103,897-square-foot park, which is also less than 10 miles from downtown Greenville, according to a news release. In February, the firm purchased 20/21 Business Center, a three-building, 98,386-square-foot multi-tenant flex industrial portfolio at 100-400 Northeast Drive and 6904 North Main St. in Columbia.
CBRE’s Rhett Craig, Blaine Hart, Matt Smith, Charles Gouch, Shelby Dodson, Patrick Gildea and Robert Hardaway represented Denholtz in the transaction with RealOp Investments.
“South Carolina’s sustained population and economic growth, combined with its business-friendly environment, continue to position it as one of the nation’s most attractive industrial markets,” said Mark Mahasky, senior vice president and head of acquisitions at Denholtz. “We are proud to expand our Southeastern portfolio with a second acquisition in the state and look forward to leveraging our vertically integrated platform to realize the full potential of One Marcus Drive.”
The firm added that, beyond South Carolina, it has expanded its Southeast industrial holdings by more than 833,000 square feet over the past four years. That included entering the Georgia market in 2022 with the purchase of the 358,884-square-foot Coleman Industrial Portfolio in Savannah, giving way to additional deals later that year in North Carolina.
“Our recent acquisitions in Greenville, Columbia, Charlotte and Greensboro exemplify our long-term strategy of targeting high-growth markets with strong economic fundamentals,” said Paul Paschal, director of acquisitions for the Mid-Atlantic and Southeast at Denholtz. “We are confident these acquisitions will continue to serve as the springboard for our growth across the Mid-Atlantic and Southeast, positioning us to capitalize on new opportunities and deliver value for our investors.”
