hcp.

385 Exchange

Greenville, SC — I-385 Corridor — 22.58 Acres
341,820 SF
Total Area
$8.75/SF
NNN Rent
Q4 2027
Delivery
Scroll
341,820 SF
Total Area
$8.75/SF
NNN Rent
385 Exchange, Greenville, SC
Lease Comps
Lease Comp
Cook & Boardman — Access Point
$8.40/SF NNN
46,765 SF • Rear Load • HCP-BuiltSep 2024 • Access Point, Greenville$10.00/SF TI
★ At the intersection — closest comp to 385 Exchange
Lease Comp
Carrier Enterprises — Piedmont Grove
$8.75/SF NNN
43,600 SF • 120 Mo Term • 3.50% Esc.Feb 2026 • 301 Piedmont Grove Park, Greenville$25.00/SF TI
Lease Comp
Voltaira — Tanner Price Way
$8.00/SF NNN
34,106 SFMar 2024 • 350 Tanner Price Way, Greenville$16.00/SF TI
Lease Comp
Magna (Build-to-Suit)
$8.38/SF NNN
625,161 SF • Rear LoadDec 2024 • 923 Matrix Pkwy, Piedmont
Lease Comp
ElringKlinger AG — Easley
$9.85/SF NNN
121,875 SF • 180 Mo Term • 2.50% Esc.Jul 2025 • Calhoun Memorial Hwy, EasleyMake Ready
Lease Comp
ElringKlinger AG — Easley (Phase 2)
$9.48/SF NNN
246,585 SF • 180 Mo Term • 2.50% Esc.Jul 2025 • Calhoun Memorial Hwy, EasleyMake Ready
Lease Comp
Fenecon — Tanner Price Way
$9.61/SF NNN
34,020 SF • 84 Mo Term • 3.50% Esc.Apr 2025 • 350 Tanner Price Way, Greenville$22.00/SF TI
Lease Comp
Maher & Associates — Antioch Church Rd
$9.10/SF NNN
40,600 SF • 61 Mo Term • 2.75% Esc.Mar 2025 • 812 Antioch Church Rd, Greenville$16.14/SF TI
Lease Comp
Matica Corp — Pelham Crossing
$15.50/SF NNN
18,660 SF • 63 Mo Term • 4.00% Esc.Jun 2024 • 2750 S Hwy 14, Greer
Lease Comp
Lauren Ashtyn Collection — Pelham Crossing
$15.00/SF NNN
12,154 SF • 124 Mo Term • 4.00% Esc.Jan 2025 • 2740 S Hwy 14, Greer
Lease Comp
ARKU Inc. — Pelham Crossing
$14.32/SF NNN
14,175 SF • 61 Mo Term • 4.00% Esc.Aug 2024 • 2740 S Hwy 14, Greer
Lease Comp
Renewal by Andersen — Pelham Crossing
$12.90/SF NNN
20,102 SF • 62 Mo Term • 3.75% Esc.Apr 2024 • 2750 S Hwy 14, Greer
Lease Comp
JR Automation — Piedmont Grove
$6.40/SF NNN
129,816 SF • Rear LoadJul 2025 • 201 Piedmont Grove Park, Greenville$8.50/SF TI
Lease Comp
Ellsworth Adhesives — Commerce Park
$7.22/SF NNN
32,512 SF • Rear LoadJan 2026 • 560 Commerce Park Dr, Greer$20.00/SF TI
Lease Comp
American Tire Distributors
$7.50/SF NNN
169,000 SF • Rear LoadJul 2023 • 315 Tanner Price Way, Greenville$9.00/SF TI
Lease Comp
Qualflex — Tanner Price Way
$7.40/SF NNN
102,060 SF • Rear LoadApr 2024 • 350 Tanner Price Way, GreenvilleAs-Is
Lease Comp
Confidential — Woods Chapel Rd
$7.90/SF NNN
33,480 SF • 60 Mo Term • 3.75% Esc.Jul 2025 • 1120 Woods Chapel Rd, Duncan$20.91/SF TI
Lease Comp
Yanfeng — Fountain Inn
$7.17/SF NNN
201,972 SF • Rear LoadDec 2024 • 200 International Blvd, Fountain Inn$13.95/SF TI
Lease Comp
Tesla — Fountain Inn
$6.90/SF NNN
251,100 SF • Rear LoadJul 2023 • 100 Fox Hill Dr, Fountain Inn$15.00/SF TI
Lease Comp
Consumer Crusaders
$6.15/SF NNN
112,320 SF • Rear LoadOct 2024 • 25 Barnes Trail, Greenville$8.00/SF TI
Lease Comp
Custom Goods — Victor Hill Rd
$6.15/SF NNN
297,607 SF • Rear LoadFeb 2023 • 915 Victor Hill Rd, Greer
Lease Comp
Roger Cleveland Golf
$5.90/SF NNN
304,884 SF • Rear LoadSep 2023 • 140 Smith Farms Pkwy, Greer$9.00/SF TI
Sale Comps
Sale Comp
Bldg 1 (Ares Portfolio) — Green Rd
$273/SF
94,500 SF • Greer, SCDec 2025 • Prologis → Ares CRE
Sale Comp
Caliber Ridge Industrial Park
$155/SF
156,000 SF • Greer, SCDec 2025 • Prologis → Ares CRE
Sale Comp
Pelham Crossing — S Hwy 14
$227/SF • 6.57% Cap
96,817 SF • Greer, SCNov 2025 • Greenberg Gibbons → Fairway Investments
Sale Comp
Inland Port Greer — Bldg 3
$104/SF • 5.78% Cap
607,160 SF • Greer, SCDec 2023 • Clarius/Walton St → Transwestern
Project Location
385 Exchange
Rental Comps
I-385/Simpsonville Submarket
Vacancy
1.8%
Q1 2026
Under Construction
0 SF
vs. 230K SF 10-Yr Avg
Net Absorption
~70K SF
Trailing 12 Months
Rent Growth
~8.0%
5-Year Avg Annual

Severely Supply-Constrained

The I-385/Simpsonville corridor is one of the tightest industrial submarkets in the Southeast. At 1.8% vacancy, available options for tenants are nearly exhausted, and there is zero speculative construction in the pipeline. The 10-year average annual delivery of ~230,000 SF has fallen to nothing, amplifying scarcity for quality industrial product.

Strong Rent Trajectory

Market rents reflect ~8% annualized growth over the past five years. Tenant demand continues to outpace supply, particularly from automotive and logistics operators. The broader Greenville–Spartanburg region absorbed 11.7M SF in 2025, underscoring regional momentum.

Economic Engine

Greenville–Spartanburg is anchored by BMW, Michelin (N.A. HQ), Lockheed Martin, GE Vernova, and 120+ automotive suppliers. More than $15B in international capital has been deployed since 2010, creating 43,000+ jobs. SC Inland Port Greer provides direct Norfolk Southern rail service to the Port of Charleston, a critical logistics advantage.

Distribution & Transportation
1.4 MI
to US-25
1.5 MI
to I-185
4.5 MI
to I-85
6.0 MI
Donaldson Field
16.9 MI
GSP Int’l Airport
21.5 MI
Inland Port Greer

I-85 “Golden Quadrant”

Located within the I-85 super corridor, the property provides seamless access to the Southeast’s top industrial artery connecting Richmond, Raleigh, Greensboro, Charlotte, Charleston, and Atlanta. One-day truck access to 100+ million U.S. consumers.

Demographics (5-Mile)

135,636 estimated population (2025) with 7.2% growth (2020–2025). Median household income of $95,655. 42% college education attainment with a median age of 38.3. Projected to reach 149,219 by 2030.

Hughes Commercial Properties

Hughes Commercial Properties is a Greenville, SC-based developer with over 50 years of experience in the market. The owner-operated model provides direct oversight across acquisition, entitlements, design, construction, leasing, and asset management.

Project Portfolio

Current Development

385 Exchange

385 Exchange

Simpsonville, SC

341,820 SF industrial park · Spec development on 22.58 acres adjacent to I-385

Mills River Logistics Center

Mills River Logistics Center

Mills River, NC

517,860 SF logistics facility · Adjacent to AVL airport with immediate I-26 access

101 E Court Street

101 E Court Street

Greenville, SC · Winter 2027

101,298 SF Class A mixed-use office building in downtown Greenville CBD

Watch Video

Completed Projects

Durham Logistics

Durham Logistics

Durham, NC

350,000 SF industrial facility · Triangle market logistics hub

Access Point

Access Point

Greenville, SC

600,000 SF · Industrial park on I-85

385 Business Park

385 Business Park

Greenville, SC

155,000 SF · Industrial park

Brookfield Industrial

Brookfield Industrial

Greenville, SC

150,000 SF · Industrial flex

I-26 Logistics

I-26 Logistics

Spartanburg, SC

230,000 SF · Logistics center

Pleasant Run Logistics

Pleasant Run Logistics

Dallas, TX

270,000 SF · Logistics facility

110 E Court Street

110 E Court Street

Greenville, SC

125,000 SF · Erwin Penland, Avenue, First Horizon, Cherry Bekaert

300 E McBee

300 E McBee

Greenville, SC

165,000 SF Class A office · Prisma Health, Lima One, Ameris, Sola Salons, Stir

Academy Sports

Academy Sports

Southeast U.S.

Preferred developer for Academy Sports throughout the Southeast (2009–2018)

Trader Joe's

Trader Joe’s

Southeast U.S.

Preferred developer for Trader Joe’s grocery-anchored centers throughout the Southeast

BI-LO

BI-LO

Southeast U.S.

Preferred developer for BI-LO grocery-anchored shopping centers throughout the Southeast