Equus Capital Partners, Ltd. (“Equus”), one of the nation’s leading private real estate investment managers, announced that it has entered into a 10-year lease agreement with Harbor Freight Tools, a privately held, California-based tool and equipment retailer, for 373,100 square-feet of warehouse distribution space in the 95 Inland Port Logistics Center in Dillon County, South Carolina.
95 Inland Port Logistics Center, a newly constructed 373,100 square-foot Class-A speculative warehouse facility, is located on Interstate 95 in Dillon County, South Carolina, approximately 5 miles south of the North Carolina/South Carolina state line.
The property is immediately adjacent to Harbor Freight’s existing presence in the market (3.1 million square feet in two buildings). Additionally, the new facility is located approximately 1-mile from South Carolina Ports’ Inland Port Dillon, which serves as a transshipment point for the Port of Charleston.
“Equus is proud to partner with Harbor Freight Tools on this transaction,” stated Dan DiLella Jr., Senior Vice President of Equus. “Harbor Freight is the largest employer in Dillon County, South Carolina and they are the largest user of the Inland Port Dillon. Equus is thrilled to be able to execute our development program while simultaneously enhancing the local economy and helping the State of South Carolina advance its vision of the Inland Port Dillon.”
Inland Port Dillon was constructed in 2018. It connects to the Port of Charleston via a CSX rail line and allows users to rail imported containers to a distribution center along I-95, which can be a more cost-effective mode of transportation as compared to trucking. Upon completion of the inland port, Harbor Freight, which had been importing through the Port of Charleston and trucking its containers to Dillon, commenced using the inland port resulting in significant cost savings. It is estimated that Harbor Freight imports up to 25,000 containers annually through Inland Port Dillon.
“SC Ports’ successful Inland Port Dillon project continues the national trend of increased usage of inland ports to support supply chain activity,” commented DiLella. “Inland Port Dillon is a valuable facility for Harbor Freight and should also attract new users to the region looking to import and distribute throughout the Southeast.”
SC Ports developed Inland Port Dillon, in partnership with the local Tri-County Partnership (including the counties of Dillon, Marlboro and Marion) and the state of South Carolina, further supporting the region as a whole.
“We are thrilled to see Equus investing in a modern, large speculative building in Dillon, S.C., to support Harbor Freight Tools’ growth,” SC Ports President and CEO Jim Newsome said. “The new facility is strategically located near Harbor Freight Tools and Inland Port Dillon. Inland Port Dillon opened in 2018 with Harbor Freight Tools as the launch customer and has since provided speed-to-market for Harbor Freight Tools’ massive distribution center. Importers and exporters benefit from Inland Port Dillon’s available capacity and reliable service through its rail connection with the Port of Charleston. Investments like this one from Equus will undoubtedly bring more growth to the Pee Dee region.”
Dillon County is a key logistics location for Harbor Freight Tools. “Since we first opened our distribution center in Dillon in 2001, we have continued to be proud members of, and significantly invest in, the Dillon community,” said Trey Feiler, SVP of Real Estate for Harbor Freight Tools. “We are excited to expand both our presence and our capacity with this new warehouse facility. We’re also excited to bring an expected 150 additional local jobs to join the more than 2,300 Harbor Freight associates in our community.”
The 95 Inland Port Logistics Center is constructed of pre-cast concrete panels and possesses a 32’ clear height, energy efficient LED interior lighting, 7” concrete floors, 50’ x 50’ column spacing and an ESFR sprinkler system. The warehouse is a 410’ deep, single-side loaded building with a 100% concrete 180’ deep truck court which includes 35 loading docks as well as excess trailer parking away from the loading docks.
Equus anticipates continuing its commitment to the region as the company is in advanced discussions about acquiring property for future, similar development in the immediate area.
Harbor Freight was represented in the transaction by Matthew Miller of CRESA. Equus was represented by Bob Barrineau and Brendan Redeyoff of CBRE and Drew Chaplin of Palmetto Realty.
About Equus Capital
Equus Capital Partners, Ltd.® is one of the nation’s leading private real estate investment managers. Equus’ diversified portfolio consists of office, multi-family, R&D, and industrial properties located throughout the United States. The firm is headquartered in the Philadelphia area with regional offices in Chicago, Los Angeles, Washington D.C., Boston, Atlanta, Raleigh-Durham, and Florida. For additional information, please visit the company’s website at www.equuspartners.com.