Provident Announces Sale of Building 1 at Augusta Grove Logistics Park

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Aug 28, 2024, 11:30 ET

DALLAS, Aug. 28, 2024 /PRNewswire/ -- Provident Industrial, a division of the Dallas-based development firm Provident, has successfully sold Building 1 of Augusta Grove Logistics Park, located at 1032 Bracken Road in Piedmont, South Carolina.

Augusta Grove Logistics Park is in the Greenville-Spartanburg industrial market, with easy access to the I-85 logistics corridor and I-185, Greenville's perimeter highway.

Augusta Grove Business Park - Greenville, SC

Building 1 was developed as a Build-to-Suit facility for Haier, a GE Appliances company that produces home appliances such as refrigerators, washing machines, and air conditioners. The facility will serve as a hub for warehousing and distribution of products from Haier's manufacturing sites in Alabama, Georgia, Kentucky, South Carolina, and Tennessee, as well as imported goods from the Port of Charleston.

The park's proximity to the Greer Inland Port rail line played a significant role in Haier's facility location decision. Additionally, the facility is 130 miles from GE Appliances' new water heater manufacturing plant in Camden, South Carolina, which supports Haier's growth in the Greenville area.

Building 1 is a 584,820-square-foot cross-dock logistics facility. Constructed with concrete tilt-wall, the building features a 36-foot clear height, LED lighting, and a modern glass storefront. It includes 123 dock-high doors, 2 ramped drive-in doors, and 54-foot by 50-foot column spacing with 60-foot speed bays. Provident's Case Van Lare, Managing Director, and Hunter Graham, Director of Southeast Industrial Development & Acquisitions, led the project with Cooper Construction serving as the general contractor.

Augusta Grove Logistics Park was developed through a joint venture, including CrossFirst Bank, TPA Group and Sweetwater Capital. Reflecting on the successful partnership, Hunter Graham of Provident stated, "This project's success is a testament to the continued demand for institutional quality assets strategically located in the Southeast."

Provident has significantly expanded its industrial portfolio, with 7.9 million square feet currently under construction or in pre-development across Texas, Arizona, and the Carolinas.

About Provident

Provident is a privately held real estate and investment firm with over three decades of success across multiple market cycles driven by foresight, experience, and adaptability to changing markets. Provident focuses on delivering exceptional risk-adjusted returns to investor partners through development of opportunistic and value-add strategies. Since its founding in 1991, Provident has developed or invested in over $5.9 billion in real estate projects nationwide. For more information, please visit www.providentrealty.net.

CONTACT: Hunter Graham, [email protected]

SOURCE Provident Realty Advisors, Inc.