Anderson, S.C. (Feb. 21, 2024) – InLight Real Estate Partners has simultaneously secured a full-building lease and a new development venture with EastGroup Properties at the Pelzer Point Commerce Center in Anderson, South Carolina. InLight sourced and signed the long-term lease shortly after going under contract on the property, which includes a building pad slated for future development in partnership with EastGroup. The project cements InLight’s expansion into the Greenville-Spartanburg market.
Totaling 28.4 acres, Pelzer Point is a two-parcel site comprised of a Class A 212,500-square-foot rear-load facility and an adjacent 11.6-acre building pad. Plans for the pre-graded, shovel-ready pad include a 187,200-square-foot warehousing and distribution facility that is expected to deliver late 2025 to early 2026. Given the site’s in-place sitework engineering and improvements, the project is fast-tracked for a condensed construction timeline that is favorable for accommodating potential build-to-suit users who require quick delivery timeframes.
The property is strategically located with interstate frontage and direct interchange access to the I-85 corridor, serving as the general midpoint between the major industrial markets of Atlanta and Charlotte. Proximity to Inland Port Greer, GSP Airport, Norfolk Southern’s intermodal terminals, and Donaldson Airport well positions the property to meet the demand from industrial, manufacturing, aerospace and defense users servicing the immediate market and broader geographical region.
While under contract to acquire Pelzer Point, InLight secured a 10-year, full-building lease on the existing facility with E+I Engineering, a subsidiary of Vertiv Holdings. E+I is the largest electrical switchgear manufacturer in the U.K. and Ireland, with an expanding market share in the U.S.
“We knew this site had incredible potential from the moment we came across it. The turnkey facility, coupled with the adjacent pad-ready site, allowed for optionality as we targeted the best end users for the space,” said Matt Pickard of InLight’s Charleston, South Carolina office. “With the ever-increasing activity in the manufacturing sector across the Upstate, we’re incredibly excited to have worked out a long-term lease with E+I that allows an existing industry in Anderson to further expand within the county, continuing their investment and job creation for years to come.”
InLight assigned the contractual rights for acquiring the building to EastGroup and intends to participate in the ground-up development of the adjoining parcel. The transaction was led by Matt Pickard, Vice President of investments in the region, and Associate Eric Fernandez.
The unique transaction structure between InLight and EastGroup allowed both groups to achieve their intended goals. As InLight’s entry into the Greenville-Spartanburg market, the project underscores the firm’s upward growth trajectory across the Southeast and Sun Belt markets.
About InLight Real Estate Partners
InLight Real Estate Partners (https://inlightre.com) is a full-service investment and development firm focused on industrial and logistics real estate across the Sun Belt, Midwest, East Coast and Gulf Coast markets.
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