CRG sells 1.4msf distribution center in Greenville-Spartanburg, S.C.

CRG has sold The Cubes at Inland 85 – Building C, a 1.4 million-square-foot, class A distribution facility in Greer, S.C., to PRP, an investment management firm focused on credit net-lease investments, for $119.5 million. The facility is fully leased to an affiliate of Techtronic Industries Co.

The Cubes at Inland 85 – Building C was started by CRG as a speculative 500,000-square-foot building with the ability to expand up to 1.4 million square feet. Techtronic quickly identified the project and location as ideal for its operations and worked with CRG to expand the facility to its current size. CRG partnered with Esmael Hill, managing principal of Atlanta-based The Net Lease Group, to lead the disposition of the asset to PRP. This deal is the first of what will be a five-property portfolio of industrial deals that are sold from CRG to PRP.

“We have a high level of conviction in the Greenville-Spartanburg market, and it’s been incredible to see our strategy