South Carolina

Liberty Property Trust Signs Two Tenants to Industrial Leases in Upstate South Carolina

by Alex Tostado April 30, 2019

DUNCAN, S.C. — Liberty Property Trust (LPT) has signed Rochling Automotive USA and XPO Logistics to industrial leases at Hillside Industrial Park in Duncan. Hillside Industrial Park is situated near U.S. Highway 290, less than a mile from the Interstate 85 interchange. Rochling Automotive has renewed its 124,800-square-foot, full-building lease at 265 East Parkway. The German-based automotive company designs and engineers components and system solutions in the fields of aerodynamics, propulsion and new mobility for automotive manufacturers globally. Bobby Lyons of Lyons Industrial represented the tenant in the lease transaction. Bryan Blythe represented LPT internally. The industrial REIT also signed XPO Logistics to a 32,000-square-foot lease at 170 Parkway West. Russell Perry and Russell Perry Jr. of R.E. Perry Co. represented XPO Logistics in the lease transaction. Brian Young, Elliott Fayssoux and Kacie Jackson of Cushman & Wakefield | Thalhimer represented LPT.

April 30, 2019

Development Multifamily Seniors Housing South Carolina Southeast

Cardinal Ventures, Blake Management to Develop 88,000 SF Seniors Housing Community in Greenville

by Alex Tostado April 23, 2019

GREENVILLE, S.C. — A partnership between Cardinal Ventures LLC and Blake Management Group will develop an 88,000-square-foot seniors housing community in Greenville. The property will offer assisted living units in studio, one- and two-bedroom formats and memory care units in studio and one-bedroom floor plans. Construction is scheduled to be complete by spring 2020.

April 23, 2019

Acquisitions Multifamily South Carolina Southeast Student Housing

Cushman & Wakefield Arranges Sale of 350-Unit Student Housing Community Near University of South Carolina

by Alex Tostado April 18, 2019

COLUMBIA, S.C. — Cushman & Wakefield has arranged the sale of The Southern @ 1051, a 350-unit student housing community located near the University of South Carolina in Columbia. The property offers one-, two-, three- and four-bedroom units. Community amenities include a swimming pool, clubhouse, package service, picnic and barbecue area, business center, fitness center and basketball and volleyball courts. Travis Prince, Victoria Marks, Jordan McCarley and Paul Marley of Cushman & Wakefield arranged the disposition on behalf of the seller, an undisclosed CMBS trust. Ernet Capital Management acquired the property for an undisclosed amount.

April 18, 2019

Acquisitions Retail South Carolina Southeast

Marcus & Millichap Arranges $7.1M Sale of Shopping Center Near Augusta

by Alex Tostado April 10, 2019

AIKEN, S.C. — Marcus & Millichap has arranged the $7.1 million sale of Aiken Exchange, a 101,488-square-foot shopping center in Aiken that is shadow-anchored by Target. Built in 2002 about 20 miles northeast of downtown Augusta, the property is anchored by PetSmart and Planet Fitness. Zach Taylor and Taylor McMinn of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller, Lamar Cos., in the transaction. Marc Strauss, also of Marcus & Millichap, represented the buyer, Aiken Exchange Plaza LLC. The buyer purchased the shopping center in a 1031 exchange.

April 10, 2019

Development Retail South Carolina Southeast

Publix to Open GreenWise Market in Metro Columbia

by Alex Tostado April 3, 2019

LEXINGTON, S.C. — Publix Super Markets Inc. will open a GreenWise Market store at Lexington Marketplace in Lexington, about 10 miles west of downtown Columbia. GreenWise will offer a large variety of organic, specialty and traditional items. GreenWise joins Ulta Beauty, Mod Pizza, Smoothie King and Fit Body Boot Camp at the 135,000-square-foot, 80 percent-leased retail center. Darrell Palasciano and Matt Henry of The Shopping Center Group represented the landlord and developer, Columbia Development, in the lease transaction.

April 3, 2019

Loans Multifamily South Carolina Southeast Student Housing

Financial Federal Bank Provides $24.3M Acquisition Loan for Student Housing Complex Near University of South Carolina

by Alex Tostado March 29, 2019

COLUMBIA, S.C. — Financial Federal Bank has provided a $24.3 million Fannie Mae acquisition loan for Stadium Suites Apartments in Columbia. The 264-unit, 924-bed complex was built in 2004 and is situated three miles from the University of South Carolina campus. Amenities include a resort-style pool, clubhouse with fitness center, game room, study room, business center, basketball and volleyball courts and a dog park. Rick Wood and Jon Van Hoozer of Financial Federal Bank originated the 10-year, fixed-rate loan with three years of interest-only payments and a 30-year amortization schedule on behalf of the borrower, a single-asset LLC that is a privately owned real estate investment company.

March 29, 2019

Development Industrial South Carolina Southeast

EJF Capital, North Signal to Develop 510-Acre Industrial Park Near Port of Savannah

by Alex Tostado March 28, 2019

HARDEEVILLE, S.C. — EJF Capital LLC and North Signal Capital LLC have acquired a 510-acre site in Hardeeville to develop RiverPort Commerce Park. The property will house more than 4 million square feet of industrial space and is situated within a census-designated opportunity zone about 10 miles from the Port of Savannah. EJF will invest the majority of the equity required for the land purchase and initial building construction from the EJF OpZone Fund I LP. Construction on the first building, which is slated to be 139,000 square feet, will begin in a few months.

March 28, 2019

Acquisitions Multifamily South Carolina Southeast

Cushman & Wakefield Negotiates $15M Sale of Multifamily Community in Upstate South Carolina

by Alex Tostado March 25, 2019

TAYLORS, S.C. — Cushman & Wakefield has arranged the $15 million sale of The Chimneys of Greenville, a 168-unit multifamily community in Taylors. The buyer, Cohen Investment Group, is planning renovations to unit interiors, however, details of the renovations were not disclosed. Community amenities include a dog park, business center, fitness center, playground, swimming pool and a clubhouse. Jordan McCarley, Tai Cohen and Watson Bryant of Cushman & Wakefield represented the seller, Highgate Capital Group, in the transaction.

March 25, 2019

Development Industrial South Carolina Southeast

Magnus Development Breaks Ground on 200,000 SF Speculative Industrial Facility in Columbia

by John Nelson March 21, 2019

COLUMBIA, S.C. — Magnus Development Partners has broken ground on Midway Logistics IV, a 200,000-square-foot speculative industrial building within Lexington County Industrial Park in Columbia. The tilt-up, multi-tenant building will feature 32-foot clear heights, 16 dock doors, two 12-by-14-foot drive-in doors, a 210-foot shared truck court, LED motion-detected lighting and an ESFR sprinkler system. Magnus expects to deliver the facility in the third quarter. Colliers International will handle leasing efforts on behalf of the developer.

March 21, 2019

Acquisitions Florida Industrial North Carolina South Carolina Southeast Top Stories

Graham Commercial Properties Acquires 16 Distribution Centers in Southeast for $194M

by Alex Tostado February 28, 2019

BIRMINGHAM, ALA. — Graham Commercial Properties (GCP) has acquired a distribution center portfolio that encompasses 16 facilities, 2.7 million square feet and three states in the Southeast for $194 million. The assets are located in Spartanburg, S.C.; Charlotte and Winston-Salem, N.C.; and Tampa and Orlando, Fla. The exact locations were not disclosed, but a press release stated the properties average 170,000 square feet and are situated near interstates, airports, rail and both inland and sea ports. The portfolio was 98 percent leased at the time of the sale and the portfolio has a combined 1.5 million square feet of expansion and development capabilities, according to Birmingham, Ala.-based GCP. “The Southeast distribution portfolio improves GCP’s overall portfolio in every category: quality of tenants, building metrics, geography and lease rollover,” says Taylor Graham, vice president of investments for GCP. “We are excited to increase our holdings in the Carolinas to over 30 percent of the total portfolio.” CBRE represented the privately owned buyer in the transaction. The seller was not disclosed. Wells Fargo provided acquisition financing. GCP’s portfolio now spans 11.7 million square feet across Alabama, Georgia, Florida and North and South Carolina. — Alex Tostado

February 28, 2019

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