Pacolet Milliken Hires Colliers International for Brokerage Services
May 11, 2015
SPARTANBURG, SC – Pacolet Milliken Enterprises, Inc. has retained Colliers International for brokerage services in the Upstate, recently listing five major tracts for sale consisting of approximately 2,900 acres with the potential for twelve million square feet of industrial development. Garrett Scott, Givens Stewart, SIOR and Brockton Hall of Colliers International are lead brokers on the project.
“We are excited to be working with the Colliers industrial team and feel confident the experience and connections that they have in this industry will bring great opportunities to these sites as they position them for the future,” said John Montgomery, vice president of real estate.
The land tracts are coming onto the market at a prime time as the Upstate becomes increasingly desirable for major manufacturing and distribution development. Driving this demand is the region’s key location between Atlanta and Charlotte, along with easy access to major highways, airports and railways. Prime examples of the market’s current success is the South Carolina Inland Port (SCIP), which connects manufacturers and distributors with the Port of Charleston, surpassing its first-year expectations and the recent announcements of Boeing supplier Toray Industries and Kobelco Construction Machinery in Pacolet Milliken’s Tyger River Industrial Park.
“The availability of these properties is notable because of the scarcity of comparable opportunities,” said Scott of Colliers International. “Properties of this size, ranging from 130 to 830 acres, with access to all utilities, are increasingly uncommon in the Upstate. Recent absorption in the market, coupled with physical and utility service limitations, make sites located in close proximity to I-26, I-85, and the Inland Port a major attraction. Colliers is excited to partner with Pacolet Milliken and looks forward to bringing great opportunities to the Upstate.”
Along with a desirable location, these properties are complemented by their readiness for construction start and occupancy as they are certified industrial sites by the South Carolina Department of Commerce as project-ready sites. Each tract is available for sale, build to suit or possible joint venture equity. The properties can accommodate facilities of more than 1.5 million square feet or multiple buildings of 250,000 to 500,000 square feet.
About Pacolet Milliken Enterprises, Inc.
Pacolet Milliken Enterprises, Inc. is a private, family-owned investment company founded in 2007 by the shareholders of Milliken & Company with a forward-looking mission to secure and grow high-quality assets with enduring value in the energy and real estate markets. For more information, please visit www.pacoletmilliken.com.
