GREENVILLE, S.C. — Continental Realty Corp. has purchased Avana at Carolina Point, a 346-unit apartment property located at 201 Carolina Point Parkway in Greenville, for $51.8 million. Constructed in 2010, the property was previously owned by Greystar Real Estate Partners and its joint venture partner Lubert-Adler. The apartment community, which includes an outdoor pool, fire pit, courtyard area, fitness center, business center and dog park, is located less than one mile from an interchange of I-85. Avana at Carolina Point is the first acquisition for Continent Realty Fund IV LP, a $164 million value-add retail and multifamily fund. The transaction is also Continental Realty’s first acquisition in South Carolina.
MOUNT PLEASANT, S.C. — DSW Inc. plans to open a new 15,000-square-foot shoe store at Bowman Place in Mount Pleasant. The footwear retailer will open the store at 1122 Bowman Road on Aug. 27. Including the new location, DSW operates 453 stores in 42 states. The company also supplies footwear and accessories to 374 locations in the United States. According to DSW, the new Mount Pleasant store will supply 20,000 pairs of men’s and women’s shoes.
GREER, S.C. — Beacon Partners has begun construction on a 240,020-square-foot speculative industrial facility located at 545 Brookshire Road in Greer. Beacon Partners expects to complete the property in February 2016. The location is approximately two miles from I-85, Greenville-Spartanburg International Airport and the South Carolina Inland Port at Greer. Tim Robertson of Beacon Partners will lead the leasing efforts for the facility, which will feature an ESFR sprinkler system, 32-foot clear heights and a 185-foot truck court to accommodate on-site trailer parking.
NORTH CHARLESTON, S.C. — Hotel Development Partners and funds managed by Ares Management LP have purchased three select-service hotels in North Charleston totaling 248 rooms. The properties include the Residence Inn by Marriott Charleston North/Ashley Phosphate, the Fairfield Inn & Suites by Marriott Charleston North/Ashley Phosphate and an unnamed Choice Hotels-branded hotel. Including this transaction, HDP and Ares Management have purchased 10 hotels together, with the other seven hotels located in the metro Atlanta area. HDP is an Atlanta-based joint venture between Hotel Equities and IRE Capital. Hotel Equities has assumed management of the three hotels.
CHARLESTON, S.C. — The Rockefeller Group and WestRock Land and Development (formerly MWV Community Development and Land Management) have broken ground on a 477,000-square-foot distribution center in Charleston. The companies are developing the center on behalf of Gerber Childrenswear LLC, a children’s apparel company whose licensed brand portfolio includes Gerber, Jockey, New Balance and NFL. The company’s proprietary brands include Onesies Brand and Always Baby. The new distribution center will double Gerber’s footprint in the Charleston metropolitan area. The new facility will be located in the 400-acre Rockefeller Group – MeadWestvaco Foreign Trade Zone/Charleston industrial campus in Berkeley County. Peter Fennelly and Simons Johnson of Colliers International’s Charleston office represented Gerber Childrenswear in the transaction. Evans General Contractors is the general contractor for the project. The new distribution center is slated for a January 2016 completion.
ROCK HILL, S.C. AND HIGH POINT, N.C. — The Shopping Center Group has arranged the sale of two grocery-anchored neighborhood centers in the Carolinas — Belleview Square in Rock Hill and Fairfield Square in High Point. The 77,800-square-foot Belleview Square sold for $5.8 million. The shopping center is anchored by Super BI-LO and was 90 percent leased at the time of sale to tenants such as Cricket Wireless, Papa John’s, HomeSmart Lease-To-Own and Albright’s Liquor Store. The 71,000-square-foot Fairfield Square sold for $4.1 million. The shopping center is anchored by Food Lion and was 100 percent leased at the time of sale to tenants such as Radio Shack, Family Dollar and Donut World. An affiliate of New York-based Juster Development sold both assets to an affiliate of Richmond, Va.-based Hackney Real Estate Partners. Anthony Blanco, Lenard Williams, Darrell Palasciano and Mallory Ham of The Shopping Center Group marketed both properties.
GREENVILLE, S.C. — CBRE has brokered the $44.7 million sale of McBee Station Apartments, a 197-unit, Class A apartment community in downtown Greenville. The property is located adjacent to a Publix-anchored shopping center, the Swamp Rabbit Trail, Cleveland Park and Falls Park. Atlanta-based TriBridge Residential purchased McBee Station from an undisclosed seller. Phil Brosseau, Kevin Kempf and Malcolm McComb of CBRE represented the seller in the transaction. Steve Haffner and Nate Sittema of CBRE arranged $29 million in acquisition financing through Allianz Real Estate of America on behalf of TriBridge Residential.
DUNCAN, S.C. — Marcus & Millichap has brokered the $11.3 million sale of the 133-room Hampton Inn & Suites Greenville/Spartanburg. The five-story hotel is located at 108 Spartangreen Blvd. in Duncan, a suburb of Greenville. The hotel is located near I-85, Tyger River Park, the headquarters of Denny’s and the BMW manufacturing plant. David Greenberg and Robert Hunter of Marcus & Millichap’s Fort Lauderdale office represented both the buyer and seller in the transaction. Raj Ravi is Marcus & Millichap’s broker of record in South Carolina.
COLUMBIA, S.C. — DTZ has brokered the sale of Crown Pointe, a Class A office building in Columbia. The property was fully leased at the time of sale to Allstate, CGI Technologies and Sharp Corp. Rob Cochran and Jared Londry of DTZ represented the seller, Charleston, S.C.-based Durlach Associates, in the transaction. The buyer, East West Capital, purchased the office building for an undisclosed amount. Crown Pointe is East West Capital’s first purchase in South Carolina.
GREENVILLE, S.C. — Garrison Investment Group has signed nearly 100,000 square feet of office space to new tenants at its eight-building office portfolio in Greenville. The leases include Ahold leasing 26,000 square feet at 651 Brookfield Parkway; The Gordian Group leasing 21,000 square feet at Patewood 2 in Office Park Patewood; and Real Page leasing 46,400 square feet at Patewood 3. Other new tenants at Patewood include NFP, OB Hospitalist Group, Auto-Owners, Palmetto Security Group and Keyence Corp. of America. The portfolio is managed by Trinity Partners, asset-managed by Trinity Capital Advisors, and leased by CBRE. Charles Gouch, Blaine Hart and Shelby Dodson of CBRE represented Garrison Investment Group in the new lease transactions. Garrison recently completed a $2 million capital improvement program at its portfolio comprising the addition of a fitness center at Office Park Patewood, new signage and lobby upgrades.