Manova Partners, an internationally active real estate investment boutique, has completed the acquisition of the logistics property "Spartanburg 221" in Spartanburg, South Carolina. The asset was acquired as part of a Separate Account for a German institutional investor. Completed in 2024, the Class A property comprises an area of approximately 95,000 square metres.
The logistics property is fully let to a leading e-commerce company. The lease agreement has a term of 15 years and is structured as a triple net (NNN) lease. This means that, in addition to the basic rent, the tenant also bears significant operating, maintenance, and ancillary costs. High tenant creditworthiness, confirmed by an AA rating, offers additional security for the investment. The parties have agreed not to disclose the purchase price.
The "Spartanburg 221" property is located on a plot of land measuring approximately 35 hectares. It features 344 car parking spaces, 346 trailer parking spaces, 140 loading docks, and four drive-in loading doors. The warehouse clear height is 12 metres. The development and sale of the property were carried out by the Rockefeller Group from New York.
Strategic location and market environment
The transport links of the logistics property are considered advantageous. It is located approximately two kilometres from Interstate 85, which connects Charlotte (North Carolina) to the northeast and Atlanta (Georgia) to the southeast. Furthermore, the distance to Interstate 26, which runs in an east-west direction and connects the Port of Charleston (South Carolina) with Interstate 81 near Kingsport (Tennessee), is less than 13 kilometres. Alin Sigheartau, Head of U.S. Transactions and Business Development at Manova Partners, emphasised that the combination of long-term letting, high tenant creditworthiness, and connectivity to central freight corridors aligns with the US investment strategy.
According to the U.S. Census Bureau, the Spartanburg metropolitan area was the third fastest-growing metropolitan area in the USA in terms of population growth in 2025. The cost of living there is approximately ten percent below the national average. The regional employment structure is significantly shaped by the manufacturing, logistics, healthcare, and education sectors.
Expansion of the logistics portfolio
This acquisition represents Manova Partners' first purchase in South Carolina. The company manages and holds properties worth approximately EUR 2.8 billion in Assets under Management across a total of 19 US states, including Maryland, Georgia, and Texas. In June, Manova Partners already expanded its US portfolio with a logistics property of approximately 28,400 square metres in Nashville, Tennessee. The acquisition in Spartanburg is in line with Manova Partners' global logistics strategy.
The investment manager has executed logistics properties with a transaction volume of over EUR 520 million across three continents in the past 24 months. Following this latest transaction, Manova Partners holds logistics properties worth approximately EUR 2.6 billion in Europe, the USA, and Latin America. This represents about a quarter of the globally managed real estate assets of EUR 10.4 billion. Manova Partners plans to further expand its logistics portfolio in key locations in the USA and Europe. The asset manager also collaborates with international investors to strengthen its engagement in the Mexican logistics market. Manova currently manages logistics properties worth approximately EUR 350 million in Mexico.
