Charlotte’s Insite Properties Buys 120,000-Square-Foot Pelham at Hyland Flex Park Off I-85 in Greenville, Plans Upgrades and Spec Suites

GREENVILLE, S.C. — A Charlotte real estate firm has bought a four-building flex and office park along Greenville’s Pelham Road corridor and plans to put money into upgrades aimed at small-bay tenants, according to reports from the Upstate Business Journal and REBusiness Online.

Insite Properties acquired Pelham at Hyland, a 120,000-square-foot small bay flex property at 7001 and 7005 Pelham Road just off Interstate 85, the Upstate Business Journal reported. The publication put the sale price at $16.4 million, citing an announcement from Greenville-based brokerage Trinity Partners. REBusiness Online, which reported the acquisition in late October, said the price and the seller were not disclosed. Neither outlet named the seller.

Trinity Partners brokers Edward Wilson, Grayson Burgess and Anthony Porchetta represented Insite in the deal, according to the Upstate Business Journal. REBusiness Online reported that CBRE represented the seller and that the Charlotte office of BWE helped the buyer arrange capital. Trinity Partners will handle leasing at the park, while Insite will manage the property itself, REBusiness Online said.

The new owner plans a capital improvement program for the property. According to the two reports, the work includes parking lot and landscaping upgrades, new signage and branding, and additional dock and roll-up doors. The Upstate Business Journal said Insite will also upgrade vacant suites, and REBusiness Online said the plan includes adding spec suites. Neither report gave a timeline for the improvements or named current tenants.

The purchase deepens Insite’s footprint in Greenville. The company bought the park to expand its presence in the city, the Upstate Business Journal reported, and it already owns Main @ Broad, a 65,000-square-foot office building downtown.

For brokers and investors, the deal shows out-of-market capital targeting Greenville’s small-bay flex segment, where buildings with dock access typically serve contractors, distributors and light manufacturers that need less space than big-box warehouses offer. The planned spec suites and added loading doors suggest Insite is positioning the park to lease vacant space to smaller users along one of the county’s busiest business corridors, with Trinity Partners leading that leasing effort.

Sources: Upstate Business Journal, REBusiness Online