South Carolina

Wheeler REIT Acquires Two Grocery-Anchored Shopping Centers in Georgia, South Carolina for $11M

by John Nelson January 16, 2017

ROYSTON, GA. AND SUMMERVILLE, S.C. — Wheeler Real Estate Investment Trust Inc. (Wheeler REIT) has acquired two BI-LO-anchored shopping centers located in Georgia and South Carolina for a combined $11 million. The acquisitions include Tri-County Plaza, a 67,577-square-foot shopping center located in Royston, Ga.; and Sangaree Plaza, a 66,948-square-foot shopping center located in Summerville, S.C. BI-LO recently executed lease extensions at both locations. Tenants at Tri-County Plaza include Maxway, Shoe Show and Snap Fitness. Tenants at Sangaree Plaza include H&R Block and Check Into Cash. Kyle Stonis and Pierce Mayson of SRS Real Estate Partners represented Wheeler REIT in the transaction.

January 16, 2017

Multifamily South Carolina Southeast

Passco Buys Apartment Community in Charleston for $38.5M

by John Nelson January 10, 2017

CHARLESTON, S.C. — Passco Cos. has purchased Woodfield South Point, a 240-unit apartment community located at 1000 Bonieta Harrold Drive in Charleston’s West Ashley submarket, for $38.5 million. Passco will rebrand the asset to 1000 West. The apartment community is situated within walking distance of the West Ashley Greenway, a 8.3-mile jogging and biking trail. Community amenities include a resort-style saltwater pool, tanning deck, outdoor grills and barbecue areas, clubhouse with an outdoor fireplace, media lounge, cyber café, dog park and a car washing station. Kevin Kempf and Phil Brosseau of CBRE represented the seller, Arsenal Real Estate Funds, in the transaction. Chris Black of KeyBank Real Estate Capital arranged acquisition financing through Fannie Mae on behalf of Passco. Including the 1000 West transaction, Passco’s acquisition volume in 2016 exceeded $540 million, and the company plans to eclipse $1 billion in acquisition volume in 2017.

January 10, 2017

Retail South Carolina Southeast

Nassimi Realty Acquires 580,000 SF Mall in Columbia

by John Nelson January 9, 2017

COLUMBIA, S.C. — Nassimi Reatly has purchased Dutch Square Center, a 580,000-square-foot enclosed retail mall in Columbia. The three-building property is attached to a 14-screen movie theater and features a single-level Burlington Coat Factory/Office Depot building and a three-story department store that features a Planet Fitness, Ashley Stewart, West Marine, Foot Locker, Rainbow and Catherine’s. Dutch Square’s outparcels include Wells Fargo Bank, Hardee’s and G.B. Shoes. The seller and sales price were undisclosed.

January 9, 2017

Multifamily North Carolina South Carolina Southeast

Greystone Arranges $33M Sale of Two Brookdale Senior Communities in the Carolinas

by John Nelson January 6, 2017

HENDERSONVILLE, N.C. AND SPARTANBURG, S.C. — Greystone Real Estate Advisors has closed the sale of Brookdale Hendersonville in North Carolina and Brookdale Skylyn in South Carolina. A private equity group purchased both properties from Brookdale Senior Living Inc., the largest owner and operator of seniors housing communities in the United States, for $33 million. Brookdale Hendersonville, located in the Asheville suburb of Hendersonville, offers independent living cottages, an independent living clubhouse, an administrative office building and a separate memory care building. Built in 1985 and 1993, the community sits on a total of 21.4 acres of land. Brookdale Skylyn, located in Spartanburg, is an independent living, assisted living, memory care and skilled nursing community. The property consists of two senior living buildings and one skilled nursing building. Built in 1986, the community sits on 17.6 acres of land. Mike Garbers and Cody Tremper of Greystone represented Brookdale Senior Living in the transaction.

January 6, 2017

Industrial South Carolina Southeast

NAI Earle Furman Closes Sale of 203,000 SF Industrial Facility in Metro Greenville

by John Nelson January 6, 2017

FOUNTAIN INN, S.C. — NAI Earle Furman has closed the sale of a 203,000-square-foot industrial facility located within Southchase Industrial Park at 107 Southchase Blvd. in Fountain Inn, about 18 miles southeast of Greenville. The asset is situated on roughly 26 acres off I-385. Caterpillar Inc. sold the asset to Southcase Investors 107 LLC for an undisclosed price. Hunter Garrett, John Staunton and Tom Daniel of NAI Earle Furman represented the buyer, and Cushman & Wakefield | Thalhimer represented Caterpillar in the transaction.

January 6, 2017

Hospitality Loans South Carolina Southeast

PMZ Realty Capital Arranges $24M Loan for Spartanburg Marriott

by John Nelson January 5, 2017

SPARTANBURG, S.C. — PMZ Realty Capital LLC has arranged a $24 million loan for The Spartanburg Marriott, a hotel in Spartanburg that features 240 rooms and seven suites. The property includes more than 30,000 square feet of meeting space, including 27 event rooms, three boardrooms and the 11,340-square-foot Heritage Ballroom. The unnamed borrower will consolidate its overall financing package into a single loan that features a fixed interest rate, according to Peter Berk of PMZ Realty Capital.

January 5, 2017

Retail South Carolina Southeast

Big V Capital Acquires Haywood Plaza Shopping Center in Greenville

by John Nelson December 23, 2016

GREENVILLE, S.C. — Big V Capital LLC has acquired Haywood Plaza, a 93,357-square-foot shopping center located in Greenville, for an undisclosed price. The property is located across from Haywood Mall, one of the three largest malls in South Carolina. The Local Cue, Bargain Hunt and Portofino’s restaurant anchor the center, which is also home to tenants including Asian Supermarket, Alpine Ski Center, Clothes Mentor, Sally Beauty, Tony’s Pizza and Reed’s Uniforms. The seller in the transaction was undisclosed.

December 23, 2016

Retail South Carolina Southeast

BC Wood Properties Acquires Grocery-Anchored Shopping Center in Columbia Suburb

by John Nelson December 16, 2016

LEXINGTON, S.C. — BC Wood Properties has purchased Town Square, a Food Lion-anchored shopping center located on the corner of West Main Street and Ellis Avenue in Lexington, a suburb of Columbia. Other tenants of the 75,763-square-foot shopping center include H&R Block, Badcock Furniture, Musician’s Supply, Terry’s Barber Shop, USA Nails, U.S. Tae Kwon Do and Liquor Depot. Town Square is BC Wood’s second shopping center acquisition in South Carolina. The sales price and seller were undisclosed.

December 16, 2016

Office South Carolina Southeast

RealOp Investments Buys Bank of America Plaza in Downtown Greenville for $22.5M

by John Nelson December 13, 2016

GREENVILLE, S.C. — RealOp Investments has purchased Bank of America Plaza, a 15-story, 196,152-square-foot office tower located at 101 N. Main St. in downtown Greenville. Renovated in 2014, the office building is connected to an Aloft Hotel and two parking structures on either side of the building. The property was 80 percent leased at the time of sale to tenants such as Bank of America, IBM, iHeartMedia and Next on Main, a shared office space provider. The building’s ground-floor retail space is leased to Methodical Coffee, TAZ Boutique and the iStore, an Apple reseller. Ryan Clutter, Scot Humphrey, Chris Lingerfelt and Zach Drozda of HFF represented the seller, Hughes Development Corp., in the sale. Travis Anderson and Brent Bowman of HFF arranged a $17.3 million, floating-rate acquisition loan on behalf of RealOp Investments.

December 13, 2016

Industrial South Carolina Southeast

CenterPoint Properties Acquires 615,090 SF Industrial Development in Metro Charleston for $41M

by John Nelson December 8, 2016

SUMMERVILLE, S.C. — CenterPoint Properties has acquired Charleston Gateway Distribution Center, a 615,090-square-foot, three-building development that features 473,124 square feet of bulk warehouse space, 121,466 square feet of cold storage space and 21,060 square feet of truck maintenance and storage space. CenterPoint purchased the asset from J.L. Woode Ltd. for $41 million. Chris Norvell of HFF represented the seller in the transaction. Situated on 109 acres at 1125 Newton Way in Summerville, Charleston Gateway Distribution Center was fully leased at the time of sale to three port-related tenants — Zinus Inc., Argo Merchants Group and H&E Equipment Services. The industrial complex features up to 42-foot clear heights, 64 dock-high loading positions, a 205-foot truck court and 94 trailer storage spaces. The property fronts I-26 and provides easy access to the Port of Charleston.

December 8, 2016

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