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Jupiter Realty purchases 510,400 sq. ft. warehouse portfolio

SPARTANBURG, S.C. – Chicago-based Jupiter Realty Corp. has acquired a 510,400 sq. ft. warehouse portfolio for $15.7 million from Duke-Weeks Realty Trust, Indianapolis. The four-warehouse portfolio comprises 40 acres of the 265-acre Hillside Park of Commerce.

The portfolio includes 197,200 sq. ft. at 285 Parkway East; 124,800 sq. ft. at 265 Parkway East; 96,000 sq. ft. at 170 Parkway West; and 92,400 sq. ft. at 190 Parkway West. The buildings were built between 1996 and 1999, and are currently 92% occupied. Major tenants include BMG Music, United Health Care and Sally Foster.

Bob Barrineau from CB Richard Ellis represented Jupiter. CB Richard Ellis has been chosen as the exclusive leasing agent. Kevin Markwordt of Insignia/ESG represented Duke-Weeks. Charlotte, N.C.-based Guardian Management Inc., a subsidiary of First LandMark USA Inc., Charlotte, N.C., will manage the property.

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