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Avison Young brokers $3.5M sale of Spartanburg industrial property
Greenville, SC –Avison Young announced today that it has arranged the sale of a 92,340-square-foot (sf) warehouse/manufacturing facility located at 212 National Avenue in Spartanburg, South Carolina to National 212, LLC for $3,500,000.
Pinnacle Coating and Converting (PCC), the seller, was represented by Gary Lyons, Principal, Reeves Willis, Associate, and Rob Howell, Senior Vice President, all based in Avison Young’s Greenville office. PCC is the current tenant and a manufacturer of specialty, high performance industrial inks and coatings.
“The Avison Young team helped us take advantage of favorable market conditions,” said Mike Greer, CEO of Pinnacle Coating. “We were able to execute a sale-leaseback that provided growth capital while maintaining our flexibility for long-term expansion needs.”
The property was built in 1973 and is located just off Interstate 26.
Pinnacle Coating and Converting (PCC), the seller, was represented by Gary Lyons, Principal, Reeves Willis, Associate, and Rob Howell, Senior Vice President, all based in Avison Young’s Greenville office. PCC is the current tenant and a manufacturer of specialty, high performance industrial inks and coatings.
“The Avison Young team helped us take advantage of favorable market conditions,” said Mike Greer, CEO of Pinnacle Coating. “We were able to execute a sale-leaseback that provided growth capital while maintaining our flexibility for long-term expansion needs.”
The property was built in 1973 and is located just off Interstate 26.
About Avison Young
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2023 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 12 consecutive years.
www.avisonyoung.com
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2023 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 12 consecutive years.
www.avisonyoung.com