Greenville commercial property sells for $16.4 million as investor expands Upstate holdings

Photo from Trinity Partners website

Charlotte-based Insite Properties has acquired Pelham at Hyland, a four-building commercial property in Greenville, for $16.4 million, expanding its real estate holdings in the Upstate. They plan to attract new tenants through property upgrades, including improved parking, landscaping, signage, additional loading docks and renovations to vacant suites.

The 120,000-square-foot office and flex-industrial complex is located at 7001 and 7005 Pelham Road, near Interstate 85. The acquisition was announced Nov. 3 by Trinity Partners, the commercial real estate firm that represented the buyer in the transaction.

The acquisition adds to Insite Properties’ existing Greenville portfolio, which includes Main @ Broad, a 65,000-square-foot office building in downtown Greenville.

Trinity Partners, a commercial real estate services firm founded in Charlotte in 1998, represented Insite Properties in the acquisition and will oversee leasing at Pelham at Hyland. The company provides brokerage, property management and investment services throughout the Carolinas.

Edward Wilson, Grayson Burgess and Anthony Porchetta of Trinity Partners’ Greenville office represented the buyer. Rhett Craig of CBRE represented the seller, while BWE’s Charlotte office assisted with sourcing capital for the transaction.

Insite Properties will manage the property and oversee the planned improvements.

The transaction highlights continued investment in Greenville’s commercial real estate market, particularly in properties offering flexible space for businesses that require a combination of office and industrial capabilities. Small-bay and flex-industrial properties can accommodate a range of businesses, including contractors, distributors, service companies and light manufacturers. Their versatility allows property owners to serve tenants with different operational and space requirements.

Pelham at Hyland’s location along the Interstate 85 corridor provides access to Greenville’s established commercial and industrial centers and the broader Upstate transportation network.

For Insite Properties, the acquisition represents an opportunity to reposition an existing commercial property through targeted improvements rather than new construction.