South Carolina

SVN Blackstream Selected to Market Sale of WestGate Mall in Spartanburg, South Carolina

by John Nelson October 25, 2023

SPARTANBURG, S.C. — Two entities of SVN | Blackstream — Reedy River Retail and Second Story Real Estate Management — have been retained to offer for sale the leasehold interest of WestGate Mall, an enclosed regional shopping mall in Spartanburg. The mall’s anchor tenants include Belk, Dillards, JC Penney and Costco, which is located on a separate parcel and not included in the sale. The sale includes 431,306 square feet of gross leasable area as part of a ground lease that has extension options through 2084. WestGate Mall, which is the only enclosed mall in Spartanburg County, is located on a 52-acre site along I-26. The asset is currently 82 percent occupied. The mall’s former owner, Chattanooga-based CBL Properties, filed for bankruptcy in 2020 and the mall is now in receivership, according to local media outlets.

October 25, 2023

Development South Carolina Southeast Student Housing

Eric Newton Real Estate Breaks Ground on 517-Bed Student Housing Development Near Clemson University

by John Nelson October 24, 2023

CLEMSON, S.C. — Eric Newton Real Estate has broken ground on Maverick Hills, a 517-bed student housing development located near the Clemson University campus in South Carolina. The property will offer cottage and townhome units in a mix of two-, three- and four-bedroom configurations with bed-to-bath parity. Shared amenities are set to include a resort-style swimming pool with lounge seating; clubhouse; full-service coffee bar; study rooms; 24-hour fitness center; courtyard for outdoor games; dog park; pickleball and basketball courts; and “The Rock” community center. The project is scheduled for completion in fall 2025.

October 24, 2023

Development Industrial South Carolina

Selwyn, CIP Break Ground on 240,000 SF Waterford Business Park in Metro Charlotte

by John Nelson October 23, 2023

ROCK HILL, S.C. — Selwyn Property Group and CIP Real Estate have broken ground on Waterford Business Park, a 240,000-square-foot speculative industrial development in Rock Hill, approximately 30 miles southwest of Charlotte in South Carolina. Upon completion, which is scheduled for the fourth quarter of 2024, the property will comprise two 120,000-square-foot facilities situated on 25 acres at 656 Red River Road. Designed for single-tenant use, the buildings will also have the ability to be subdivided for multi-tenant use. Patrick Gildea, Rob Hardway, Matt Smith, Grayson Hawkins, Trey Barry and Frank Fallon of CBRE secured an $11.1 million limited partnership equity placement for the development of the property.

October 23, 2023

Development Industrial Leasing Activity South Carolina Southeast

Red Rock Signs Dunlop Sports to 304,884 SF Warehouse Lease in Greer, South Carolina

by John Nelson October 20, 2023

GREER, S.C. — Red Rock Developments has signed a 304,884-square-foot lease at the developer’s speculative warehouse in Greer, about 12 miles from Greenville, S.C. Delivered in August, the property is situated within the second phase of Smith Farms Industrial Park, an industrial park that Red Rock owns with capital partner LXP Industrial Trust. Dunlop Sports Americas will fully occupy the building, which features 36-foot clear heights, shipping/receiving offices and dock packages with 40,000-pound hydraulic levelers, seals, dock fans and lights. Marcus Cornelius, Trey Pennington and Jeff Benedict of CBRE represented Red Rock in the lease negotiations. Jeff Head and Tommy Turner of Newmark represented the tenant.

October 20, 2023

Acquisitions Healthcare South Carolina Southeast

Montecito Medical Acquires Seven Medical Office Buildings in Upstate South Carolina

by John Nelson October 20, 2023

NASHVILLE, TENN. — Nashville-based Montecito Medical has acquired a portfolio comprising seven medical office buildings (MOBs) in upstate South Carolina. Concentrated in the Greenville and Clemson markets, the properties total 88,000 square feet. The portfolio was fully leased at the time of sale. Clemson Eye occupies six of the buildings, and Carolinas Centers for Sight leases the seventh property. Both tenants are affiliates of Eye Health America. HREA | Healthcare Real Estate Advisors represented the undisclosed seller in the transaction. The sales price was also not disclosed.

October 20, 2023

Build-to-Rent Development Multifamily Single-Family Rental South Carolina Southeast

TruAmerica Multifamily Plans $86M Build-to-Rent Residential Project Near Spartanburg, South Carolina

by John Nelson October 17, 2023

INMAN, S.C. — TruAmerica Multifamily has purchased a 33-acre site in the Spartanburg suburb of Inman for the development of Hartley View, an $86 million build-to-rent (BTR) residential community. The project will include 281 rental homes, including a mix of 214 townhomes, as well as 67 detached single-family residences. Layouts will range from 1,260 square feet to 2,200 square feet. Amenities will include a pool, dog parks, playgrounds, community parks and four acres of open wooded and recreation spaces. Hartley View represents TruAmerica’s first BTR community. The developer plans to begin horizontal construction at the site in summer 2024 and begin vertical construction in December 2024. Delivery of the first homes is scheduled for summer 2025. Brad Morris of New Deco Inc. represented the seller, Converse Development, in the land sale.

October 17, 2023

Acquisitions Multifamily South Carolina Southeast

Marcus & Millichap Brokers $5.4M Sale of Clement Arms Apartments in North Charleston

by John Nelson October 12, 2023

NORTH CHARLESTON, S.C. — Marcus & Millichap has brokered the $5.4 million sale of Clement Arms Apartments, a 49-unit multifamily community located at 1815 Clements Ave. in North Charleston. The property was built in 1980 on 1.2 acres. Ryan Lipomi, Will Graves and Nate McDaniel of Marcus & Millichap’s Charleston office represented the seller and procured the buyer in the transaction. Both parties requested anonymity.

October 12, 2023

Data Centers Development Industrial South Carolina Southeast

DC Blox Opens 125,000 SF Cable Landing Station in Myrtle Beach, South Carolina

by John Nelson October 11, 2023

MYRTLE BEACH, S.C. — DC Blox, a data center provider based in Atlanta, has opened its Cable Landing Station in Myrtle Beach. The 125,000-square-foot facility is equipped with 19 megawatts (mW) of power and can host up to five subsea cables and colocation space for network and cable operators, communications providers, local enterprises and partners. DC Blox is also building a dark fiber route from the new facility to its communications hub in Atlanta. Google has announced two subsea cables that will land at the Myrtle Beach station, including the Firmina cable connecting Myrtle Beach to Argentina, Brazil and Uruguay, and the Nuvem cable to connect to Portugal and Bermuda. Edge Holdings (a subsidiary of Meta, parent company of Facebook and Instagram) has announced that it plans to land its Anjana cable connecting to Spain.

October 11, 2023

Acquisitions Industrial South Carolina Southeast

Rockefeller Group Sells 1.1 MSF Stateline 77 Industrial Park in Fort Mill, South Carolina

by John Nelson October 5, 2023

FORT MILL, S.C. — The Rockefeller Group has sold Stateline 77, a 1.1 million-square-foot, two-building industrial park located along I-77 in Fort Mill, a South Carolina suburb of Charlotte. EQT Exeter purchased the 77.5-acre asset from Rockefeller Group for an undisclosed price. Pete Pittroff, Dave Andrews, Josh McCardle, Michael Scarnato and Britton Burdette of JLL represented Rockefeller Group in the sale. Last month, solar panel manufacturer Silfab Solar announced plans to invest $150 million to upfit and operate out of the larger of Stateline 77’s two buildings, a 786,167-square-foot cross-dock facility located at 7149 Logistics Lane. The property’s second building, a 221,000-square-foot distribution center at 7107 Logistics Lane, was fully leased in 2022 by two tenants, Element Designs and Motion Industries Inc.

October 5, 2023

Affordable Housing Development Multifamily South Carolina Southeast

Town of Hilton Head Island Selects OneStreet to Develop First Workforce Housing Community

by John Nelson October 4, 2023

HILTON HEAD ISLAND, S.C. — The Town of Hilton Head Island has awarded its request for proposal (RFP) for the island’s first ever workforce housing community to Atlanta-based OneStreet Residential. The project, preliminarily named Northpoint, will feature 150 to 170 workforce housing units and will be located on an 11-acre tract of town-owned land. The project is envisioned to house the caregivers, teachers, medical professionals and first responders who work on Hilton Head Island. At least half of the units will be reserved for households earning between 60 to 80 percent of the area median income (AMI). OneStreet Residential was selected as the town’s preferred development partner after months of deliberation by town staff and an advisory committee, which included tours of the developer’s projects in Atlanta. OneStreet will begin site due diligence, site planning, engineering and architectural renderings. The development agreement is expected to go before Hilton Head Town Council for a vote in early 2024, with the commitment to maintain the Northpoint community as workforce housing forever.

October 4, 2023

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