A three-building warehouse complex in Spartanburg, South Carolina has traded hands for approximately $100 million, with Invesco Real Estate acquiring the fully leased Crossroads Logistics Park just as the property hit 100% occupancy. The 814,320-square-foot industrial park sits near a BMW automotive manufacturing plant and a South Carolina Ports Authority inland port facility, two of the region's biggest economic engines.
Crossroads Logistics Park spans roughly 79 acres and consists of two 168,480-square-foot buildings at 151 and 161 International Park Drive, plus a 477,360-square-foot cross-dock facility at 171 International Park Drive, according to Capdex. As reported by CoStar, the sale closed with all three warehouses fully leased, including a BMW supplier. JLL's David Andrews, Michael Scarnato and Pete Pittroff worked on the transaction, per the same outlet.
A Spec Project Reaches Full Lease-Up
The park's sellers, Brennan Investment Group and Grandview Partners, broke ground on the speculative development in March 2022 and finished construction of all three buildings in 2023, according to JM Cope, the contractor that built the project. By the time the park went to market, it had reached 100% occupancy with a weighted average remaining lease term exceeding five years across tenants including a Tier-1 automotive supplier and a major building supply manufacturer or distributor, per JLL's release on the sale.
The park's 151 International Park Drive building is one of the two smaller buildings on the site. The park's timing worked in the sellers' favor: reaching full stabilization right as marketing wrapped up gave buyers a fully de-risked, income-producing asset rather than a speculative bet on future lease-up.
Why Invesco Wanted In
Invesco Real Estate, the buyer, managed $86.3 billion in real estate assets across 21 regional offices globally as of the end of 2025, according to the Upstate Business Journal. That scale reflects the kind of institutional capital increasingly drawn to Upstate South Carolina, where investors are attracted by the region's automotive and manufacturing sectors.
The property's location is central to that appeal. Positioned near the intersection of Interstate 85 and Interstate 26, Crossroads Logistics Park sits within a four-hour drive of more than 18.7 million consumers and less than 10 miles from Greenville-Spartanburg International Airport, JLL notes. The site is also less than 90 miles from Charlotte Douglas International Airport, giving tenants multiple routes to move freight.
The Rail and Auto Anchors Nearby
Just up the road sits Inland Port Greer, which set a calendar-year record in 2025 by handling 197,805 rail moves and serving more than 150 Southeastern commercial customers with overnight intermodal rail service to the Port of Charleston, according to the South Carolina Ports Authority. The facility averaged 13% year-over-year growth during its first decade after opening in 2013. South Carolina Ports recently completed a $55 million expansion there that increased cargo capacity by 50%, adding 9,000 feet of rail track and expanded container yard space and pushing annual rail lift capacity to 300,000 moves.
BMW's presence looms even larger over the local industrial market. The automaker completed a $1.7 billion investment across its South Carolina facilities in July, including a $1 billion upgrade to its Spartanburg assembly plant and a $700 million electric vehicle battery assembly plant in nearby Woodruff, as reported by WardsAuto. Plant Spartanburg is BMW's largest facility worldwide, employing more than 11,000 workers and exporting 225,000 vehicles valued at over $10 billion in 2024, according to the Federal Reserve Bank of Richmond. South Carolina led the nation in completed passenger-vehicle export sales in 2024.
Part of a Broader Statewide Surge
The Crossroads sale lands amid a wave of economic development activity across South Carolina. The state Department of Commerce recorded $9.12 billion in announced economic development recruitment in 2025, the third-highest annual total in state history, creating more than 8,100 new jobs statewide. Rural recruitment accounted for more than 40% of capital investment and jobs, underscoring why institutional buyers like Invesco are increasingly willing to pay premium prices for industrial real estate anchored by manufacturers and rail-connected ports rather than betting on speculative development alone.
