CBRE brokers sale of Office Park Patewood in Greenville
February 23, 2017
CBRE Group, Inc. announced the sale of Office Park Patewood in Greenville, SC. Patrick Gildea and Tripp Sellers exclusively represented the seller, New York-based Garrison Investment Group, in the transaction. The portfolio sold on January 26, 2017.
Office Park Patewood is a six-building office park located at 10 Patewood Dr., 30 Patewood Dr., 50 International Dr. and 80 International Dr. The park has an 82% occupancy rate and totals 448,505 square feet. Ideally positioned along the thriving I-385 corridor, Office Park Patewood offers the best-in-class product in suburban Greenville. The new ownership will continue to raise the bar for suburban Class-A product with new amenities and services, further elevating the park’s ability to attract and retain quality tenants by offering unrivaled quality in workplace environment.
With nearly 6.0 million square feet of rentable space, the Greenville Suburban submarket is the largest submarket in the overall Greenville–Spartanburg Office market. Class-A rental rates within the submarket have increased 12.9% over the past year.
Tenants include Ogletree Deakins, Mustang Process and Industrial, RealPage and The Gordian Group.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
