Global Manufacturer Signs Long-Term Lease For 477360 Square Feet At 171 International Park Drive
Building Size
477,360 SF
Asset Type
Industrial
Closing
Sep 30, 2025
AI
A global manufacturer has signed a long-term lease for 477,360 square feet at 171 International Park Drive in Spartanburg, SC. The property is located within Crossroads Logistics Park, the largest building in the area, and falls under the industrial asset type, emphasizing its significant size and strategic location in the market.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Address: 171 International Park Drive
- Market: Spartanburg, SC
- Asset Size: 477,360 square feet
- Landlord: Brennan Investment Group
- Tenant's Representative: Perry Major, Chuck Rosien & Joan McCarthy - JLL
- Landlord's Representative: NAI Commercial
This transaction highlights the involvement of major players in the commercial real estate sector in the Greenville-Spartanburg area. JLL represented the tenant, ensuring their interests were aligned during the lease negotiation, while NAI Commercial acted on behalf of the landlord, Brennan Investment Group, securing a significant deal that reflects the industrial demand in the region.
Players
Market Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93