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Avison Young brokers $3M sale of Spartanburg industrial property
April 20, 2023
Greenville, SC –Avison Young announced today that it has arranged the sale of a 74,000-square-foot (sf) warehouse/manufacturing facility located at 109 Belton Drive in Spartanburg, South Carolina to Pan Technology. Pan Technology, a manufacturer of specialty, high performance industrial inks and coatings purchased the building for $3,000,000.
PPG Industries, the seller, was represented by Chris Loyd, Senior Vice President; Gary Lyons, Principal; Reeves Willis, Associate, and Rob Howell, Senior Vice President. The team fielded multiple offers on the property and closed at above asking price.
The property was built in 2000 and is located just off Interstate 85.
“This facility was in high demand and we received multiple offers,” said Lyons. “The Greenville-Spartanburg area continues to see a significant amount of demand for industrial assets as the Upstate has been experiencing unprecedented economic activity and growth.”
Pan Technology, headquartered in New Jersey, is expanding operations to the facility in Spartanburg.
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Avison Young is a 2022 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 11 consecutive years. www.avisonyoung.com