REBusinessOnline

Healthcare Systems, Physicians are ‘More Sophisticated’ When it Comes to Real Estate, Says InterFace Healthcare Panel

CHARLOTTE, N.C. — Healthcare systems and physicians groups once viewed their real estate operations as a line item on a ledger and not as high a priority as staffing, education or equipment. In the years since reimbursements from Medicare began tightening as it went from a fee-for-service model to an outcome-based one, healthcare systems and physicians are getting more savvy when it comes to their real estate strategies. “With respect to real estate, healthcare systems used to be …

Competition Intense Among Real Estate Lenders, Says InterFace Carolinas Panel

CHARLOTTE, N.C. — Capital One Multifamily Finance’s Chad Thomas Hagwood kicked off with a fastball. When prompted with the often used “what inning are we in?” question, Hagwood’s response was indicative of how competitive commercial real estate lending is today. “I don’t know what inning we are in of the cycle, but I know I want to play ball,” says Hagwood, senior vice president of Capital One Multifamily Finance. “People are after it, and we intend to fight it out tooth …

‘Broadening’ Economy on Track for Longest Expansion Cycle in U.S. History, Says Wells Fargo’s Mark Vitner

CHARLOTTE, N.C. — It’s been nine years since the Great Recession ended, and if the economy can make it to June 2019 without suffering a relapse, it will be the longest business cycle in U.S. history. Mark Vitner, managing director and senior economist of Wells Fargo Securities, believes that will happen because of how broad-based the recovery has been. “For the most part, over the last nine months to a year all 50 states have been growing, which is something that hasn’t happened …

Stockbridge Capital Acquires 350,856 SF Industrial Building North of Charleston for $30.5M

HANAHAN, S.C. — Stockbridge Capital Group has acquired a newly constructed industrial facility in the north Charleston suburb of Hanahan for $30.5 million. The 350,856-square-foot facility is located at 1025 N. Pointe Industrial Road, five miles from the Port of Charleston’s North Charleston terminal and nine miles from Charleston International Airport. The building features an ESFR sprinkler system, 32-foot clear heights, LED lighting, 180-foot truck courts and on-site trailer storage. The …

Ziff Properties Sells Retail Center Near Columbia for $12.6M

LEXINGTON, S.C. — Ziff Properties Inc. has sold Lexington Towne Center, a 131,809-square-foot retail center in Lexington, for $12.6 million. The property is located at 934 N. Lake Drive, roughly 15 miles west of Columbia. Berkeley Capital and The Palomar Group arranged the transaction on behalf of Ziff Properties. A New York-based private buyer acquired Lexington Towne Center, which is home to tenants such as Food Lion, Stein Mart, Tuesday Morning, Urban Nirvana, Cold Stone Creamery, Moe’s …

Mortgage Company to Relocate Headquarters to New $34M Office Building Near Charlotte

FORT MILL, S.C. — RoundPoint Mortgage Servicing Corp. will expand and relocate its headquarters from Charlotte, N.C., to a new $34 million office building in Fort Mill, a South Carolina suburb of Charlotte. The new facility will bring 1,100 new jobs to the area upon completion in the third quarter of 2019. Dan Woodley of Savills Studley arranged the 150,000-square-foot, build-to-suit deal on behalf of RoundPoint. The new building will be located within Southbridge Business Park, a 350-acre …

Keurig to Build $350M Coffee Roasting Facility in Upstate South Carolina

MOORE, S.C. — Keurig Green Mountain Inc. will invest $350 million to build a new roasting and packaging facility in Moore, a city in Upstate South Carolina’s Spartanburg County. The specialty coffee and coffeemaker company acquired 215 acres of land within Tyger River Industrial Park from Pacolet Milliken Enterprises to build the new facility, which is expected to create 500 new jobs upon completion. Garrett Scott, John Montgomery and Brockton Hall of Colliers International …

Marcus & Millichap Brokers $13.4M Sale of Two Walmart-Leased Properties in Georgia, South Carolina

HEPHZIBAH, GA. AND CAYCE, S.C. — Marcus & Millichap has brokered the $13.4 million sale of two properties leased to Walmart Neighborhood Market in Hephzibah and Cayce. The Hephzibah property is located at 3697 Windsor Spring Road, roughly 14 miles south of Augusta. The property sold for $6.6 million. The Cayce building is located at 1355 Knox Abbott Drive, roughly four miles south of Columbia, and sold for $6.8 million. Both properties span 41,921 square feet and were constructed in 2015. …

Stan Johnson Co. Arranges $57M Sale of 21-Property Childcare Portfolio in Carolinas, Colorado

TULSA, OKLA. — Tulsa-based Stan Johnson Co. has arranged the $57 million sale of a Gateway Academy portfolio located throughout Colorado, North Carolina and South Carolina. The portfolio includes 21 single-tenant assets that are net-leased to the childcare organization. Six of the facilities are located in North Carolina, 10 in South Carolina and five in Colorado. Milo Spector, Chris Lomuto and Matt Lipson of Stan Johnson Co. arranged the transaction on behalf of the seller, which developed …

RocaPoint Partners to Lead $1B Mixed-Use Redevelopment in Upstate South Carolina

GREENVILLE, S.C. — RocaPoint Partners, an affiliate of The Georgetown Co., has unveiled plans to develop a $1 billion mixed-use project in downtown Greenville. The Atlanta-based development firm has received unanimous approval from Greenville County Council to redevelop 37 acres along University Ridge. The land currently houses administrative offices at County Square, along with offices across the street including the South Carolina Department of Motor Vehicles and the Greenville County …