COLUMBIA, S.C. — Magnus Development Group has broken ground on Midway Logistics V, a 180,000-square-foot industrial building within Lexington County Industrial Park (LCIP) in Columbia. Kardex Remstar, a Swiss automated storage and retrieval solutions supplier, will fully occupy the building upon completion, which is slated for second quarter 2020. The new property will include 50-foot bay spacing, energy-efficient LED motion detection lighting, a 60-millimeter TPO roof, eight dock doors, 20 future knock out dock doors, two 16-foot-by-16-foot drive-in doors and a private 130-foot truck court for receiving and shipping. Magnus Development has developed all five building within LCIP, most recently breaking ground on Midway Logistics IV in March.
MYRTLE BEACH, S.C. — Eyzenberg & Co. has arranged a $14.1 million acquisition loan for THEBlvd, a 42,000-square-foot entertainment, retail and restaurant building in Myrtle Beach. The property is located at 1410 N. Ocean Blvd., a mile north of downtown Myrtle Beach. The seller, Land South of MB LLC, developed the three-story asset, which was fully triple-net leased to tenants including live music venue Tin Roof Myrtle Beach, Bandito’s Restaurant and Cantina and American Resort Management. An undisclosed New York-based family investor acquired the property for $22.6 million via a 1031 exchange. David Eyzenberg and Anastasia Vladislavova of Eyzenberg & Co. represented the buyer in placing debt financing through Morgan Stanley.
COLUMBIA, S.C. — A public-private partnership between Greystar and the University of South Carolina (USC) is set to break ground on Campus Village. The multiphase redevelopment will be located on the current site of Cliff Apartments at the northeast corner of Sumter and Whaley streets in Columbia. The partnership will begin construction on the $210 million first phase of development in February 2020 with completion scheduled for fall 2022. When complete, the living-learning community will feature 1,800 beds, an academic support space, dining hall, campus safety office, sundry store and coffee shop. Under the development agreement, Campus Village will be owned by the university and maintained by Greystar under a management contract. USC will manage and provide housing operations and student support at Campus Village.
SPARTANBURG, S.C. — DMG Investments is set to break ground on Auden Upstate, a 480-bed student housing community located near the University of South Carolina Upstate campus in Spartanburg. The $28 million development will consist of seven, four-story buildings offering two-, three- and five-bedroom units. Shared amenities will include a fitness center, study room, resident lounge, gaming room and a swimming pool. Construction is scheduled for completion in August 2020.
BLUFFTON, S.C. — Continental Realty Corp. (CRC) has purchased The Bluestone, a 360-unit apartment complex in Bluffton, for $69.3 million. The property offers one-, two- and three-bedroom floor plans. Communal amenities include two swimming pools, sundecks, outdoor kitchens, fitness center, grilling areas, clubhouse, coffee bar, yoga studio and a fireplace lounge area. The Bluestone was constructed in phases between 2004 and 2007 and is located six miles from Hilton Head Island. CRC purchased the asset from a joint venture between Charleston, S.C.-based Blaze Partners and The Carlyle Group, a global investment firm based in Washington, D.C.
SUMMERVILLE, S.C. — American Landmark Apartments has acquired Alta Brighton Park, a 329-unit multifamily property in Summerville. American Landmark will invest $800,000 and rename the property Elevate at Brighton Park. The property offers one- through three-bedroom floor plans. Communal amenities include a saltwater swimming pool, outdoor lounge area with grills, 24-hour fitness center and a resident clubhouse. Alta Brighton Park is located at 115 Great Lawn Drive, 25 miles north of downtown Charleston. Alex Okulski, Sean Wood, John Heimburger, Dean Smith, John Munroe and Jason Kon of Newmark Knight Frank (NKF) represented the seller in the transaction. Bill Weber, Matt Mense, Ari Schwartzbard and Henry Stimler of NKF arranged acquisition financing on behalf of American Landmark. Further details of the transaction were not disclosed.
COLUMBIA, S.C. — Capstone Apartment has negotiated the sale of Hunter’s Way, a 304-unit apartment complex in Columbia. The garden-style property offers one-, two- and three-bedroom floor plans spanning 38 two-story buildings. The community was 92 percent occupied at the time of sale. Communal amenities include a swimming pool, playground and clubhouse, as well as laundry facilities in each building. The buyer, GLP Investments, plans to rebrand the community and implement a multimillion-dollar renovation. Ron Corrao, Alex McDermott, Austin Green, and Brian Ford of Capstone represented the seller, Rivercity Ventures, in the transaction. The sales price was not disclosed.
NORTH CHARLESTON, S.C. — Berkadia has arranged the $28 million sale of Planters Crossing, a 256-unit multifamily community in North Charleston. The property is located at 7910 Crossroads Drive, 15 miles north of downtown Charleston. The community offers one- and two-bedroom floor plans. Communal amenities include a clubhouse, swimming pool, sundeck, barbecue area and laundry facilities. Mark Boyce and Blake Coffey of Berkadia represented the seller, Intersouth Realty, in the transaction. John Bray of Berkadia originated a Fannie Mae acquisition loan on behalf of the buyer, Charleston-based Blaze Partners.
MONCKS CORNER, S.C. — The Keith Corp. and Frampton Construction Co. LLC have broken ground on a 615,000-square-foot industrial facility for A&R Logistics within West Branch Commerce Park in unincorporated Moncks Corner. The building will feature 36-foot clear heights and the potential for future expansion. CSX will provide rail services, granting A&R Logistics direct access to the Port of Charleston, which is located about 30 miles southeast of the site. Keith Corp. and Frampton Construction expect the facility to be operational in November 2020.
SIMPSONVILLE, S.C. — Marcus & Millichap has arranged the $29.4 million sale of Garden District, a 223-unit multifamily community in Simpsonville. The property was delivered in 2008 and offers one- through three-bedroom floor plans. Communal amenities include barbecue areas, picnic areas, an internet café, fitness center, swimming pool, business center and a clubhouse. Garden District is located at 100 Garden District Drive, 15 miles southeast of downtown Greenville. Drew Babcock of Marcus & Millichap represented the seller, an undisclosed Florida-based partnership, in the transaction. The buyer was a private investor based in Simpsonville.