Manova Partners, an international real estate investment boutique, has acquired the Class A logistics property "Spartanburg 221" in Spartanburg, South Carolina, as part of a separate account for a German institutional investor. The approximately 95,000 square metre property was completed in 2024 and is fully let to a leading e-commerce company with a term of 15 years. The lease is structured as a triple-net contract (NNN), in which the tenant bears essential operating, maintenance and ancillary costs in addition to the rent. In addition, the tenant's very good corporate creditworthiness with an AA rating offers a high level of protection. The purchase price was not disclosed.
"With Spartanburg 221, we are securing a first-class logistics property in one of the most dynamic growth markets in the southeastern United States. The combination of long-term leasing, high tenant credit rating and excellent connections to central freight corridors is particularly in line with our US investment strategy," said Alin Sigheartau, Head of U.S. Transactions and Business Development at Manova Partners.
Spartanburg 221 was developed and sold by the New York-based Rockefeller Group. The property is located on a plot of around 35 hectares and has 344 car parking spaces, 346 parking spaces for trailers, 140 loading ramps, 4 entry-entry loading gates and a height of 12 meters.
The logistics facility is located just approximately two kilometres from Interstate 85, which runs northeast through Charlotte, North Carolina and southeastwards through Atlanta, Georgia, and less than 13 kilometres from Interstate 26, which runs east-west and connects the Port of Charleston, South Carolina to Interstate 81 near Kingsport, Tennessee.
According to the U.S. Census Bureau, the Spartanburg metropolitan area was the third-fastest-growing metropolitan area in the U.S. in 2025 in terms of population growth. At the same time, the cost of living is about 10 percent below the national average. The region's employment structure is largely driven by manufacturing, logistics, health care and education.
This is Manova Partners' first acquisition in South Carolina. Manova Partners holds and manages real estate worth around EUR 2.8 billion in assets under management in a total of 19 US states, including Maryland, Georgia and Texas. Most recently, the company expanded its US portfolio in June with a logistics property of around 28,400 square metres in Nashville, Tennessee.
The acquisition in Spartanburg follows the global logistics strategy of Manova Partners. In the last 24 months, the investment manager has completed logistics properties with a transaction volume of more than EUR 520 million on three continents.
Following the acquisition of Spartanburg 221, Manova Partners holds logistics properties worth around €2.6 billion in Europe, the US and Latin America, representing around a quarter of its global real estate assets under management of €10.4 billion.
Manova Partners plans to expand its logistics portfolio in key locations in the USA and Europe. In addition, the asset manager is working together with international investors to further increase its commitment to the Mexican logistics market. Manova currently manages logistics properties worth around EUR 350 million in Mexico.
