GREER, S.C. — NAI Earle Furman has represented The Taft Family Office and Appian-Gilliam LLC in purchasing a 23.5-acre industrial park in Greer. The site has a newly constructed speculative building that spans about 100,000 square feet. The industrial park was 60 percent leased at the time of the sale. NAI Earle Furman will also handle the management and marketing of the rebranding of the park, now called The Inland Distribution Center. The center is located a few miles off Interstate 85 and neighbors the South Carolina Ports Authority’s Inland Port Greer. The seller and sales price were undisclosed.
COLUMBIA, S.C. — Adventurous Journeys Capital Partners (AJ) has purchased the Inn at USC, a 116-room hotel located near the campus of University of South Carolina in Columbia. The hotel will undergo renovations throughout its common areas in the spring. The hotel and common areas are expected to remain open throughout the renovation process. The hotel is set to become part of AJ’s Graduate Hotels collection next fall. This is the first planned hotel for Graduate Hotels in the Carolinas. Arpit Shah of CBRE represented the sellers, University Foundations and IMIC Hotels. The sales price was not disclosed.
SUMMERVILLE, S.C. — Nexton and RealtyLink Commercial have announced a list of 22 tenants that will occupy Nexton Square, a shopping center in Summerville that is set to open this summer. The vendors include Tropical Smoothie Café, The Bicycle Shoppe and Fuji Sushi, as well as other restaurants, apparel, beauty, fitness, entertainment and finance tenants. The first buildings are scheduled to be available to tenants for up-fit later this year. Nexton Square will be located in Summerville’s Nexton master-planned community, which is located about 25 miles northwest of downtown Charleston. The design team includes architect McMilan Padzen Smith Architects, civil engineer and landscape architect Seamon Whiteside, construction manager Landmark Construction and general contractor Ordner Construction.
MYRTLE BEACH, S.C. — Eyzenberg & Co. has secured a $26 million first mortgage bridge loan to replace a $22.6 million construction loan for THEBlvd, a mixed-use property in Myrtle Beach. Land South of MB LLC is the borrower and retained Eyzenberg & Co. last year as its financial advisor for the development of THEBlvd. David Eyzenberg, Jeff Conti and Anastasia Vladislavova of Eyzenberg & Co. arranged the loan, which was provided by Rialto Capital Management. Located at 1410 N. Ocean Blvd., the 42,000-square-foot property features live entertainment, restaurant and retail space. At the time of financing, the recently completed property was 70 percent leased to tenants, including Tin Roof, Banditos Cantina, BurgerFi and Starbucks Coffee.
GREENVILLE, S.C. — TWO Capital Partners has completed the sale of Harbinger, a three-building office campus located in Greenville. CCP Commercial Real Estate acquired the asset for $22 million. Located at the Interstate 385 and North Pleasantburg Drive in Greenville, the property was 93 percent leased at the time of sale. Originally constructed in 1982, the 162,962-square-foot, Class A office campus was fully repositioned in 2017 and 2018 through an approximately $3.5 million capital improvements program. Rob Cochran, Jared Londry and Nolan Ashton of Cushman & Wakefield represented the seller in the deal.
SPARTANBURG, S.C. — Capital One has provided an $11 million adjustable-rate loan to Altera Development, a Dallas-based real estate development company. The company used the loan proceeds to acquire a 109,000-square-foot medical office building located on the campus of Mary Black Hospital in Spartanburg. The loan consists of $6.5 million in initial funding, a holdback for tenant improvements/leasing commissions and an earnout.
JOHNS ISLAND, S.C. — Grandbridge Real Estate Capital has closed a $31.5 million first-mortgage loan for Crowne at Live Oak Square, a multifamily community located at 3014 Reva Ridge Drive in Johns Island, an island 16 miles southwest of Charleston. The name of the borrower was not released. Funding for the permanent, fixed-rate refinance was originated through Freddie Mac’s Lease-Up loan program, which is designed for refinancing newly constructed properties. The 11-year, non-recourse loan was structured with an initial period of interest-only payments and a 30-year amortization schedule. Constructed in 2017, the 282-unit Crowne at Live Oak Square comprises 11 three- and four-story buildings across 18.9 acres. Units feature nine-foot ceilings, crown molding in living and dining areas, stainless steel appliances, European cabinets and granite countertops. Community amenities include a resort-style swimming pool, sun deck, grill area and cabana, interactive health and athletic center, lounge area with multiple TVs, media center, hiking trails and a pet spa and grooming station. The apartment community is situated within PUD, a mixed-use development that features a shopping center.
MYRTLE BEACH, S.C. — Passco Cos. has purchased The Lively at Carolina Forest, an apartment property located at 107 Village Center Blvd. in Myrtle Beach. Orange Capital Advisors/CF Evans sold the property for $48.2 million. Constructed in 2017, the property features 305 units in a mix of studio, one-, two- and three-bedroom floorplans with nine- and 10-foot ceilings, quartz or granite countertops, vinyl plank wood or polished concrete flooring, stainless steel appliances, washers/dryers and walk-in closets. Onsite amenities include a standalone community “beach house” backing up to a several-acre water feature, community gardens, a fire pit, gathering area, gas grilling stations, fitness center with kids’ room, car care station, dog park, dog washing station, package attendant service, a saltwater pool and elevators. Marc Robinson, Jordan McCarley and Tai Cohen of Cushman & Wakefield represented both the buyer and seller in the deal. Chris Black and Caleb Marten of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing for Passco Cos.
CHARLESTON, S.C. — Holder Properties has completed the development of a corporate campus in Charleston’s Daniel Island submarket for Blackbaud, a provider of software and services for the global philanthropic community. The 172,000-square-foot property features open workspaces, private offices, employee lounges, conference rooms, classrooms, team rooms, a game room, full-service kitchen, cafeteria and a Starbucks café. Exterior amenities include two terraces, a timber-framed pavilion, putting green, bocce ball court, employee garden, activity field and a full-length basketball court. ASD | SKY designed the property, which was built by Balfour Beatty. JLL provided tenant support services for the campus. The building’s interior is designed to LEED Gold standards with energy-saving technologies, like solar panels, HVAC automation, LED lighting and low-flow plumbing fixtures.
SPARTANBURG, S.C. — Courtland Group has received $19.5 million in construction financing, as well as joint venture equity from JDI Realty, for the development of Fort Prince Distribution Center, a bulk industrial warehouse building in Spartanburg. Travis Anderson, Chris Norvell, Cory Fowler, Trent Niederberger and Patrick Nally of HFF arranged the joint venture equity and placed the five-year construction loan with CrossHarbor Capital Partners on behalf of Courtland Group. The 436,800-square-foot Fort Prince Distribution Center will feature 36-foot clear heights, 66 dock doors and two automatic drive-in doors in a cross-dock configuration. Situated on 56 acres in the city’s West Side industrial submarket, the property’s location offers access to interstate 85 and 26, enabling tenants to reach more than 95 million consumers within a day’s drive and direct interstate access to import/export goods through the Port of Charleston.