Cushman & Wakefield arranges $105.6M sale on behalf of Panattoni and PCCP
Four Industrial Buildings Total 1,033,360 Square Feet
Cushman & Wakefield announced today that the commercial real estate services firm has arranged the sale of Apple Valley Industrial Portfolio, a four-building industrial portfolio located in Duncan, South Carolina. The total sale price was $105.6 million.
Stewart Calhoun and Casey Masters of Cushman & Wakefield along with Marcus Cornelius of CBRE and Ryan Koop of Broadstreet Partners represented the sellers, Panattoni and PCCP, in the transaction. An affiliate of Lexington Realty Trust acquired the property. Lexington Realty Trust has been an active acquirer of industrial properties in the market. The Class A Portfolio is located off of Apple Valley Road and totals 1,033,360 square feet. The Portfolio provides unmatched access to Greenville-Spartanburg’s major industrial demand drivers including BMW, Greenville-Spartanburg International Airport, and Greer Inland Port.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Founded in 1986, Panattoni Development Company, Inc. is one of the largest privately held, full-service development companies in the world. Panattoni is headquartered in Irvine, California, and operates from 28 offices in the United States, Canada and Europe. Since inception, Panattoni has developed more than 422 million square feet of space including more than 148 million square feet of build-to-suit projects. Panattoni has developed industrial, office, and flex facilities in 279 cities located in 30 states and nine countries. Learn more at www.panattoni.com.