Stream Picks Up South Carolina Industrial Asset

April 4, 2023

Fully occupied, the Class A facility is part of the 131-acre Velocity Park campus.

Velocity II. Image courtesy of Cushman & Wakefield

Stream Realty Partners has purchased Velocity II, a 297,607-square-foot Class A industrial facility in Greer, S.C., for $29 million. The acquisition comes just months after the company picked up a fully leased, 826,250-square-foot industrial campus in Garden City, Ga., in a $113 million deal.

Cushman & Wakefield worked on behalf of the seller, CKCI Velocity II LLC, an entity related to Childress Klein, according to CommercialEdge. The property is part of Velocity Park, a 131-acre master-planned industrial campus encompassing 2.4 million square feet of space across 17 buildings.

Stream and Cullum Interests developed the property on a speculative basis. Completed in 2022, the facility is currently fully occupied by Sunland Logistics Solutions. Located at 915 Victor Hill Road, the single-story Velocity II building includes 32-foot clear heights, LED lighting systems, ESFR sprinklers, five office store fronts, two drive-in doors, 66 dock-high doors, 85 trailer parking spots and 220 vehicle parking spots that can be further expanded.

Situated on a 20-acre lot, the asset is close to Interstate 85 and BMW’s Manufacturing Plant and Operations Center. The property is 5 miles from Greer Inland Port, 5.6 miles from Greenville-Spartanburg International Airport, 16 miles from Spartanburg, S.C., and 17 miles from Greenville, S.C.

Earlier investments in the area

Cushman & Wakefield’s Vice Chairman Stewart Calhoun, Executive Directors Casey Masters, Rob Cochran and Bill Harrison, Senior Directors Brian Young, Kacie Jackson and Elliott Fayssoux, together with Director Nolan Ashton, worked on behalf of the seller.

Other recent industrial deals in the state included the sale of the newly completed Airport Distribution Center in West Columbia, S.C. Scannell Properties sold the asset to Cooperative Electric Energy Utility Supply Inc., for $24.7 million. Situated adjacent to Columbia Metropolitan Airport, the 247,000-square-foot speculative industrial property will be expanded and modified to accommodate the new ownership’s corporate headquarters.

In November 2022, a 450,033-square-foot industrial property in Graniteville, S.C., changed hands for $30.2 million. JLL negotiated on behalf of the sellers, Edgewater Ventures and Singerman Real Estate.