Invesco Acquires 814,320-Square-Foot Crossroads Logistics Park in Spartanburg from Brennan Investment Group and Grandview Partners

Invesco has acquired Crossroads Logistics Park, a three-building, 814,320-square-foot Class A industrial and logistics park in Spartanburg, South Carolina, JLL Capital Markets announced Aug. 25. Brennan Investment Group and Grandview Partners sold the asset, with JLL representing the sellers in the transaction.

Property Overview: Crossroads Logistics Park

Crossroads Logistics Park sits on approximately 79 acres along International Park Drive near the intersection of Interstate 85 and Interstate 26 in the Spartanburg/Duncan area. The park comprises three buildings completed in 2023: two smaller facilities of roughly 168,480 square feet each, located at 151 and 161 International Park Drive, and a larger cross-dock building of approximately 477,360 square feet at 171 International Park Drive.

The larger cross-dock building features 36-foot clear heights, ESFR sprinklers, LED lighting, 96 loading dock doors, four drive-in doors, and approximately 2,500 square feet of office space. Each of the two smaller buildings includes 37 loading dock doors and two drive-in doors. All three buildings are designed as modern bulk distribution space consistent with Class A institutional standards.

The park is positioned within a four-hour drive radius covering more than 18.7 million consumers. It sits less than 10 miles from Greenville-Spartanburg International Airport and less than 90 miles from Charlotte Douglas International Airport, which ranks as the sixth-busiest airport in the United States. The property also benefits from proximity to the South Carolina Inland Port and the BMW Manufacturing campus in nearby Greer, one of the largest automotive production facilities in North America.

Stabilization and Tenant Profile

The park reached 100% occupancy during the marketing process, when its final suite was leased ahead of closing. At the time of sale, the property carried an average remaining lease term exceeding five years across a diversified tenant roster.

Tenants include a Tier I supplier to major automotive manufacturers, a global leader in electrical infrastructure and switchgear manufacturing — which occupies the largest building at 171 International Park Drive — a major building supply manufacturer and distributor, third-party logistics providers, and consumer products manufacturers. The tenant mix reflects the Upstate South Carolina market's core demand drivers: automotive supply chain, advanced manufacturing, and logistics.

Pre-sale marketing materials showed the park approximately 91.4% leased to five tenants with a weighted average lease term of roughly eight years at that stage. The lease-up of the final suite prior to closing brought the asset to full stabilization at the time of the transaction.

JLL Capital Markets Team

The JLL Capital Markets team that arranged the sale was led by Senior Managing Director Pete Pittroff, SIOR, Senior Director Dave Andrews, and Director Michael Scarnato. Associate Michael Lewis and Analyst Jack Barnes provided analytical support.

JLL's Capital Markets group operates globally with more than 3,000 specialists in offices across nearly 50 countries, offering services including investment sales and advisory, debt advisory, equity and fund placement, and net lease advisory, among others.

About the Parties

Invesco Real Estate manages $86.3 billion in real estate assets under management and operates 21 regional offices across the United States, Europe, and Asia Pacific, as of Dec. 31, 2025. The firm invests across the risk-return spectrum in equity and debt, listed and direct strategies, and operates as a business name of Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd.

Brennan Investment Group, headquartered in Chicago, acquires, develops, and operates industrial properties across major U.S. metropolitan markets. Since 2010, the firm has acquired or developed $6.5 billion in industrial real estate across 30 states, with a current portfolio encompassing approximately 58 million square feet. The firm maintains 18 regional offices throughout the United States.

Grandview Partners, formally known as Grandview Partners, is a real estate investment manager wholly owned by Artisan Partners Asset Management, Inc. The firm focuses on the acquisition, management, development, and disposition of real estate assets across property types.

Market Context: Greenville-Spartanburg Industrial Corridor

The Greenville-Spartanburg market has emerged as one of the most active logistics and manufacturing hubs in the Southeastern United States. The submarket's appeal to institutional capital is anchored by its intermodal infrastructure — including direct access to the South Carolina Inland Port — its dense automotive manufacturing supply chain, and its position along the I-85/I-26 corridor connecting the Southeast to major population centers.

The lease-up of Crossroads Logistics Park's final suite during the marketing process highlights continued demand strength in the Greenville-Spartanburg industrial market. The transaction represents a fully stabilized, institutional-quality acquisition for Invesco Real Estate in a corridor that has attracted sustained interest from logistics, manufacturing, and consumer products tenants.

Sources

JLL Newsroom: JLL arranges sale of Crossroads Logistics Park in Spartanburg, South Carolina