GTIS Partners announces $140m industrial property JV in South Carolina with Collett Industrial

GTIS Partners has formed a joint venture with Collett Industrial, an industrial developer headquartered in Charlotte, N.C., to acquire and develop two projects in the Greenville-Spartanburg (GSP) MSA.

The joint venture has a total capitalization of $140 million. One of the projects, Willimon Business Park, has executed leases or letters of intent with tenants totaling approximately 520,000 square feet for long-term occupancy at the project.

The GSP development projects, which will total nearly 1.2 million square feet of industrial space upon completion, are located near each another within the same opportunity zone on the eastern edge of the South Carolina Technology & Aviation Center (SCTAC). SCTAC is one of the largest business parks in South Carolina and houses the operations of more than  110 companies.

The new projects are centrally located on the East Coast, offering greater access around Greenville, south to Charleston and Atlanta, and north to Charl