Brennan Investment Group Acquires 157,412-SF Class A Industrial Asset in Piedmont, South Carolina
Brennan Investment Group has acquired a 157,412-square-foot Class A industrial building in Piedmont, South Carolina, the Chicago-based private real estate investment firm announced July 23. The property, situated within Exchange Logistics Park along the Anderson and Greenville County lines, expands Brennan Investment Group's growing portfolio in the Carolinas and represents a value-add play centered on leasing up available space in a newly delivered asset.
Property Details and Location
Completed in 2023, the single-building asset sits on approximately 11 acres less than a half-mile from Interstate 85, providing direct connectivity to the broader Greenville-Spartanburg market. The facility is located minutes from downtown Greenville and the South Carolina Technology and Aviation Center.
The building is designed to modern logistics specifications, featuring 32-foot clear heights, ESFR fire protection, LED high-bay lighting, a 135-foot truck court, and abundant dock-high loading positions. Its shallow-bay configuration is intended to accommodate a wide range of tenant requirements, from smaller occupiers to midbox users.
At the time of acquisition, the property is occupied by two tenants and carries approximately 65,000 square feet of vacancy, placing current occupancy at roughly 59 percent. Brennan Investment Group plans to complete move-in-ready improvements, including speculative office space buildouts, to accelerate lease-up of the available space.
Value-Add Strategy in a High-Demand Market
The acquisition fits a pattern Brennan Investment Group has pursued across multiple markets: acquiring partially leased or repositionable industrial assets and creating value through targeted capital improvements and active leasing. The firm has leased more than 800,000 square feet of warehouse space across other projects in the Greenville-Spartanburg-Anderson market over the prior 18 months.
"Brennan continues to see outstanding opportunities throughout the Carolinas, and this acquisition aligns perfectly with our strategy of investing in high-quality industrial assets in markets with strong long-term fundamentals," said Rob Gage, Managing Principal at Brennan Investment Group. "We have leased over 800,000 square feet of warehouse space in our other projects in the Greenville-Spartanburg-Anderson market in the last 18 months. This market has very strong fundamentals driving warehouse demand. We look forward to executing our asset management strategy and creating value upon stabilization."
Kevin Brennan, Chief Investment Officer of Brennan Investment Group, echoed that view. "The Greenville-Spartanburg region remains one of the strongest industrial markets in the Southeast, supported by exceptional infrastructure, a highly skilled workforce, and continued economic growth," he said. "This acquisition reflects our continued conviction in well-located industrial assets that offer both stable, in-place income and meaningful upside through thoughtful asset management. We are excited to add another high-quality property to our growing Carolinas portfolio."
Carolinas Portfolio Expansion
The Piedmont acquisition adds to Brennan Investment Group's active presence across the Carolinas, where the firm has been pursuing industrial opportunities tied to sustained population growth, manufacturing expansion, and continued demand for logistics space. The Greenville-Spartanburg corridor has drawn attention from industrial investors in part because of its access to a skilled manufacturing and logistics labor pool and its position along major Southeast transportation routes.
About Brennan Investment Group
Brennan Investment Group is a Chicago-based private real estate investment firm that acquires, develops, and operates industrial properties in select major metropolitan markets across the United States. Since its founding in 2010, the firm has acquired or developed $6.5 billion in industrial real estate across 30 states. Its current portfolio encompasses approximately 58 million square feet. Brennan Investment Group co-invests with private and institutional capital and maintains 18 regional offices throughout the United States.
Financial terms of the Piedmont acquisition, including the purchase price, cap rate, and seller, were not disclosed.