South Carolina

Centennial American Properties to Break Ground on Next Phase of $200M Mixed-Use Project in Greenville

by Alex Tostado January 3, 2019

GREENVILLE, S.C. — Centennial American Properties (CAP), the developer of Camperdown, a four-acre, $200 million mixed-use development in downtown Greenville, is set to break ground on the project’s next phase. Falls Tower, the second office tower in the development, is scheduled to begin construction in the first quarter. The 15-story building will have 10 stories of office space, topped by five floors of for-sale condominiums. At full buildout, Camperdown will have more than 200,000 square feet of office space, 18 condos, an AC Hotel and 217 apartment residences. Construction on Camperdown is expected to be complete in 2020.

January 3, 2019

Acquisitions Mixed-Use South Carolina Southeast

CapRocq Sells Retail, Multifamily Space in Downtown Greenville for $9.4M

by Alex Tostado December 21, 2018

GREENVILLE, S.C. — An affiliate of Arkansas-based CapRocq has sold 14,414 square feet of retail space and 22 multifamily units within the Wells Fargo Center in downtown Greenville for $9.4 million to an undisclosed buyer. The retail and multifamily space is situated on the second and third floors. The Wells Fargo Center is a mixed-use development leased to Charles Schwab, Sully’s Steamers, Sticky Fingers and Port City Java. The selling entity, CapRocq Greenville LLC, still owns the remainder of Wells Fargo Center. Scott Burgess and Lance Byars of Colliers International represented the seller in the transaction. Furthermore, Colliers retains the leasing and property management of the portion of the center still owned by CapRocq Greenville.

December 21, 2018

Development Industrial South Carolina Southeast

CRG to Build 467,200 SF Distribution Center in Upstate South Carolina

by Alex Tostado December 13, 2018

DUNCAN, S.C. — CRG, the development arm of Clayco Inc., has purchased 39.3 acres of land in Duncan for the construction of The Cubes at Inland Woods. The speculative, cross-dock distribution center will span 467,200 square feet and feature 36-foot clear heights, 128 dock doors, four drive-in doors, 240 employee parking spaces and 74 trailer parking spaces. The Cubes will be situated less than two miles from the Inland Port Greer and less than three miles from BMW’s Spartanburg plant. The design team includes Clayco and its architect subsidiary BatesForum. Colliers International’s Garrett Scott, John Montgomery and Brockton Hall represented CRG on the land purchase and have also been chosen to manage the leasing of the new building. Atlanta-based The Net Lease Group arranged financing on behalf of CRG. The Cubes at Inland Woods is the second project in CRG’s distribution series. The St. Louis-based developer is also currently under construction on The Cubes at Inland 85 in Spartanburg.

December 13, 2018

Acquisitions Industrial South Carolina Southeast

Foam Manufacturer Buys 676,548 SF Industrial Facility Near Columbia, South Carolina

by Alex Tostado December 12, 2018

WINNSBORO, S.C. — Healthcare US Co., a Chinese foam manufacturer, has bought a 676,548-square-foot industrial facility that sits on 150.5 acres in Winnsboro. The company plans to create 250 jobs and use the facility to produce memory foam for bedding and other products. The property is located at 1 Guardian Way, about 30 miles north of Columbia. Shaun Kirchin and Doug Faris of Philadelphia-based Binswanger represented the seller, Knauf Insulation, in the transaction. The sales price was not disclosed.

December 12, 2018

Development Multifamily South Carolina Southeast

FCA Partners, Spectrum Break Ground on $43M Multifamily Development in North Charleston

by Alex Tostado December 3, 2018

NORTH CHARLESTON, S.C. — Charlotte, N.C.-based companies FCA Partners and Spectrum have kicked off the construction of a multifamily development in North Charleston. The joint venture acquired the land in late October for the project, which is expected to cost $43 million and bring 286 units near Charleston International Airport. Amenities are set to include a saltwater pool, two-story clubhouse, fitness center and a dog park. Completion is slated for summer 2020. This is the second project under development for the firms’ partnership. In September, the joint venture began construction on a 199-unit apartment complex in Greenville. This is the first time since 2014 FCA has capital investment in the multifamily sector.

December 3, 2018

Acquisitions Florida Georgia Multifamily North Carolina Property Type South Carolina Southeast Top Stories

Carroll Organization, PGIM Acquire $600M, 13-Property Multifamily Portfolio in Southeast

by David Cohen November 28, 2018

ATLANTA — Carroll Organization and PGIM Real Estate have acquired three multifamily portfolios in the metro areas of Raleigh-Durham, N.C.; Ponte Vedra Beach, Fla.; and Charleston, S.C. valued at $600 million. The combined properties total 4,043 residential units. The three acquisitions by the joint venture include an eight-property, 2,883-unit portfolio in Raleigh-Durham; a two-property, 480-unit portfolio in Ponte Vedra Beach; and a three-property, 680-unit portfolio in Charleston. The sellers and price were not disclosed. “These latest portfolio acquisitions are consistent with PGIM Real Estate’s strategy to pursue workforce housing investments in well-located, pro-business metropolitan markets with a limited supply of apartments and a robust demand for affordable housing options,” said Alfonso Munk, Americas chief investment officer for PGIM Real Estate. “Our ongoing partnership with Carroll Organization will enable us to create an enhanced living experience for the residents at these 13 communities, while delivering compelling, supply-resistant investment opportunities to our investors.” The acquisitions were led by Jim Mehalso, Atlanta-based managing director and head of Southeast Transactions at PGIM Real Estate, and Josh Champion, president and chief investment officer for Atlanta-based Carroll Organization. The transactions mark the fifth joint venture between PGIM Real Estate and Carroll Organization since December 2017. To …

November 28, 2018

Development Industrial South Carolina Southeast

Miller-Valentine Construction Finishes Midway Logistics III in South Carolina

by Alex Tostado November 27, 2018

WEST COLUMBIA, S.C. — Miller-Valentine Construction has completed Midway Logistics III, a 200,000-square-foot speculative building in the Lexington County Industrial Park (LCIP) in West Columbia. The building is designed for multi-tenant, Class A distribution and light manufacturing. The facility, developed by Magnus Development Partners, features 21 dock doors, two drive-ins and entries for tenant offices. It was designed to allow for a shared dock truck court to support a future distribution facility on the adjacent lot. LCIP sits on 350 acres and is home to Midway Logistics I and II, Husqvarna, JanPak, Home Depot, Republic National Distributing Co., Scholastic Book Fairs and Garden State Lumber Corp.

November 27, 2018

Industrial Leasing Activity South Carolina Southeast

GSP North America Leases 115,764 SF of Industrial Space in Upstate South Carolina

by Alex Tostado November 21, 2018

SPARTANBURG, S.C. — GSP North America Co. Inc. has leased 115,764 square feet of industrial space in Spartanburg, located at 2725 New Cut Road, about 29 miles northeast of BMW’s American headquarters. GSP specializes in distributing and providing auto parts. Brian Young, Elliott Fayssoux and Kacie Jackson of Cushman & Wakefield | Thalhimer represented the landlord, Becknell Industrial, in the transaction. Brockton Hall, Garrett Scott and John Montgomery of Colliers International represented the tenant.

November 21, 2018

Acquisitions Multifamily South Carolina Southeast

Berkadia Negotiates $42.2M Sale of Loft Apartment Community in Greenville

by Alex Tostado November 20, 2018

GREENVILLE, S.C. — Berkadia has negotiated the sale of West Village Lofts at Brandon Mill in Greenville for $42.2 million. West Village Lofts was redeveloped in 2017 and offers one- , two- and three-bedroom floor plans. Amenities include a dog park, pool, fitness center, wine cellar and a clubroom. The buyer and seller were undisclosed.

November 20, 2018

Acquisitions Office South Carolina Southeast

LRC Properties Acquires 104,610 SF Charleston Office Building

by Alex Tostado November 19, 2018

CHARLESTON, S.C. — LRC Properties LLC has acquired Ashley Overlook, a 104,610-square-foot office building located at 4390 Belle Oaks Drive in Charleston that serves as Select Health of South Carolina’s headquarters. Stan Johnson Co. brokered the deal between New York-based LRC and the seller, a group of individual investors based in San Jose, Calif. The property was 81 percent leased at the time of the October sale. The sales price was undisclosed.

November 19, 2018

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