Updated Sep 4, 2026
Greystar Leases 917,694 Square Feet To BMW North America At 510 Logistics Drive
510 Logistics Drive
Building Size
917,694 SF
Asset Type
Industrial
Closing
Sep 4, 2026
About this deal
AI
The property asset involved in the transaction is a 917,694-square-foot industrial building located at 510 Logistics Drive in Wellford, SC. This industrial lease was signed for a long-term agreement. The asset is part of the Mid85 industrial park, which encompasses approximately 2 million square feet.
Summary of transaction details:
- Property Type: Industrial Lease
- Transaction Amount: Not disclosed
- Square Footage: 917,694
- Address: 510 Logistics Drive
- Market: Wellford, SC
- Landlord: Bob Faith - Greystar
- Tenant: BMW North America
- Brokers: Connor Faught, John Montgomery & Dillon Swayngim - Colliers
This transaction involved BMW North America's new logistics facility strategically located less than 10 miles from its Spartanburg manufacturing plant. Colliers represented BMW in the lease agreement with Greystar.
Players
Tariff 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