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Chambers Street Properties (NYSE:CSG), a net lease industrial and office real estate investment trust, announced it has acquired 1200 Woods Chapel Road, a 156,800 square foot industrial building near Spartanburg, S.C.
With this purchase, Chambers Street now owns more than 2.1 million square feet of warehouse/distribution properties in the Spartanburg area, which is a key logistics hub for the Southeastern United States given its proximity and access to the Port of Charleston and I-85, one of the primary interstates linking the Southeastern and Mid-Atlantic states.
Completed in 2009, the concrete tilt-up building is fully leased on a triple net basis to a leading supplier of automotive seating and electrical power management systems. The property is situated on a 32.5-acre parcel and the building is expandable to 273,000 square feet.
“With its expandability and quality tenancy, this building is an excellent complement to our Spartanburg portfolio,” said Chuck Hessel, Senior Vice President of Acquisitions, Chambers Street.
1200 Woods Chapel Road is located one mile from I-85 and two miles from Greenville-Spartanburg Airport. It is in close proximity to a new intermodal facility that the South Carolina Inland Port is developing in Greer, S.C., which will provide an overnight Norfolk Southern rail link for freight to and from the Port of Charleston. The inland port is scheduled to open in September 2013.
About Chambers Street Properties (NYSE:CSG)
Chambers Street is a leading net lease industrial and office real estate investment trust that focuses on acquiring, owning and operating high-quality warehouse/distribution and office properties leased to creditworthy tenants.
As of June 30, 2013, Chambers Street's $3.3 billion portfolio (at cost) is comprised of 129 properties, encompassing 34.2 million rentable square feet.
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