Manova Partners has acquired Spartanburg 221, a Class A+ logistics facility totaling 1,020,195 square feet at 2536 Chesnee Highway in Spartanburg, S.C. The large-scale industrial asset adds modern distribution space to Manova’s portfolio and is positioned within a regional logistics corridor in the Upstate area. The property is identified as a high-end, institutional-quality building and was delivered to the market recently.
The facility was completed in 2024 and is fully stabilized at the time of sale, with 100% of the space leased to a single tenant. The lease is structured on a long-term, triple-net basis, shifting most operating expenses to the tenant. The income stream is further supported by a guarantee from AA corporate credit, providing an additional layer of security around rent payments and overall tenancy performance. ESFM (Compass Group USA), a provider of integrated facilities management and operational support services, is listed at the building’s address.
Spartanburg 221 was developed and sold by the Rockefeller Group, which brought the project online as a modern logistics asset. The building sits on an 87-acre site and is designed to accommodate large-scale distribution and logistics operations. Site features include 344 car parking spaces and 346 trailer storage spaces, supporting substantial employee and truck traffic. The facility also offers 140 dock-high loading doors and four drive-in loading doors, catering to high-throughput freight and flexible loading requirements.
The property’s 40-foot clear height positions it for contemporary warehouse and distribution use, including racking-intensive operations and bulk storage. Its configuration and loading infrastructure are intended to meet the needs of modern logistics occupiers that rely on efficient goods movement, cross-docking and rapid order fulfillment. The combination of high clear heights, abundant dock positions and significant trailer storage is consistent with large-format logistics facilities serving regional and multi-state supply chains.
Location is a key feature of Spartanburg 221, which sits roughly one mile from Interstate 85. I-85 provides direct regional connectivity, running northeast through Charlotte, N.C., and southeast through Atlanta, GA, two major Southeastern distribution and population hubs. This positioning gives the tenant access to a broad consumer and industrial base along a heavily trafficked freight corridor, enhancing the property’s appeal for long-haul and regional distribution strategies.
According to the seller, since December 2024 Manova has transacted on logistics properties worth in excess of $600 million across three continents. The acquisition of Spartanburg 221 fits within that broader logistics investment activity, adding a newly built, fully leased, single-tenant asset backed by AA corporate credit to Manova’s global portfolio. While financial terms of the Spartanburg 221 transaction were not disclosed, the deal underscores ongoing investor interest in large-scale, modern industrial facilities with long-term, credit-backed leases.
