Mapletree Investments has leased ±307,778 square feet of industrial space at 1375 Howell Road in Duncan, SC to major retailer Dollar General for an expansion of their distribution footprint near the Inland Port in Greer. Located just off the Highway 290 corridor, the building is configured for distribution with cross-dock orientation and a ±3,600-square-foot shipping and receiving office which allowed Dollar General to take occupancy and begin operations immediately at the new facility.
The owner and landlord of the building, Singapore-based Mapletree Investments, was represented in the transaction by the Colliers industrial team of Garrett Scott, John Montgomery and Brockton Hall.
The expansion at 1375 Howell Road will enhance Dollar General’s existing supply chain and distribution network with easy access to the Inland Port in Greer via Highway 290, allowing them to better serve their growing consumer base throughout the Greenville-Spartanburg market.
“Demand for move-in ready industrial is higher than ever in the Upstate of South Carolina right now,” said Mapletree Investments Asset Manager Scott Silver. “This dynamic, combined with the Howell Road building’s size, orientation and proximity to I-85 and the Inland Port in Greer, translated into a tremendous amount of interest as soon as the availability rolled out to the market. By partnering with the Colliers team we were able to secure a mutually beneficial lease for all parties in a very short period of time and are pleased to welcome Dollar General as the newest tenant in our portfolio.”
The Greenville-Spartanburg industrial market has absorbed a large percentage of existing space, with an estimated ±7 million square feet absorbed from January to August. This demand is spurring new development across the Upstate region and shorter vacancy timeframes for existing buildings including the property at 1375 Howell Road.
Colliers experts John Montgomery, Garrett Scott and Brockton Hall make up one of the top industrial development and leasing teams in South Carolina. The team is currently working with regional and international investment companies and developers to ensure facilities are available to meet the needs of economically beneficial projects interested in the upstate region.
Colliers | South Carolina has over 150 staff members, including 62 licensed real estate professionals, covering the entire state with locations in Charleston, Columbia, Greenville and Spartanburg. Total 2020 brokerage volume exceeded $533 million, which included over 456 sales and leasing transactions. In addition to traditional commercial real estate representation services for our clients, the company is actively engaged in Corporate Solutions and Healthcare Services. Colliers is an Accredited Management Organization (AMO) through the Institute of Real Estate Management (IREM) and is the largest manager of commercial real estate properties in South Carolina, with a portfolio of over 17 million square feet of office, industrial, retail and healthcare properties. Colliers | South Carolina’s staff hold 49 professional designations, the most of any firm in South Carolina. Colliers | South Carolina’s partner, LCK, provides project management services for new facilities and renovations across South Carolina.
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