ICM Adds Spartanburg Industrial Property to USCI III Portfolio
(Atlanta, Georgia – March 2026) ICM Asset Management (“ICM”), in partnership with Longleaf Capital Partners (“Longleaf”), is pleased to announce the acquisition of 185 Littlejohn, a 247,341-square-foot industrial property in Spartanburg, South Carolina within the Greenville–Spartanburg industrial corridor.
The investment was made through U.S. Co-Investment Real Estate III LP (“ICM USCI III”), a fund strategy focused on acquiring assets where operational improvements and leasing initiatives can drive value over the investment period.
The property consists of two Class B industrial buildings situated on approximately 24 acres and is currently 54% leased to a plastics processing tenant under a long-term lease extending through 2032, with the remaining 113,840 square feet presenting a value-add leasing opportunity through targeted capital improvements and active asset management.
“This closing reflects the type of opportunity we are working to identify and execute for our ICM USCI III investors,” said Spencer Patton, Partner and Managing Director, U.S., at ICM Asset Management. “Assets like 185 Littlejohn combine durable in-place income with a clear path to value creation through operational improvements and lease-up. With strong fundamentals in the Greenville–Spartanburg market, we believe this investment is well positioned to generate attractive outcomes for our limited partners.”
The Greenville–Spartanburg corridor continues to see strong demand for industrial space supported by regional manufacturing growth and logistics infrastructure, including proximity to Interstate-85, Inland Port Greer, and BMW’s North American manufacturing facility.
“ICM USCI III was designed to identify opportunities like this,” said John Courtliff, CEO, Partner and Portfolio Manager at ICM Asset Management. “Across many real estate markets today, pricing adjustments and operational complexity are creating opportunities for disciplined investors. Through ICM USCI III, we are focused on selectively deploying capital into assets where active management and strong local partnerships can drive value for our investors.”
The acquisition of 185 Littlejohn represents another step in ICM’s deployment of capital through USCI III, as the firm continues identifying opportunities created by evolving real estate market conditions across North American markets.
ICM U.S. Co-Investment Real Estate III LP
Following on the success of its predecessors, ICM USCI III is a private limited partnership focused on opportunistic acquisition, development, leasing and stabilization of high-quality real estate assets across the U.S. Sun Belt, targeting markets supported by long-term population growth, employment expansion, and pro-business fundamentals.
About ICM Asset Management
ICM Asset Management is a multi-strategy alternative investment firm specializing in institutional-quality real estate strategies across North America. The firm focuses on disciplined capital deployment, operational excellence, and value creation through strategic partnerships and active asset management.
About Longleaf Capital Partners
Longleaf Capital Partners is a commercial real estate investment and advisory firm focused on the strategic acquisition and operation of industrial, office, retail, and alternative assets across the Southeastern United States. The firm combines institutional investment expertise with a hands-on operational approach grounded in disciplined underwriting and active asset management.