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.
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.
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.
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.
Magnus Development Partners Breaks Ground on 210,600 SF Industrial Facility in Blythewood, South Carolina
BLYTHEWOOD, S.C. — Magnus Development Partners has broken ground on Access 77, a 210,600-square-foot speculative industrial facility in Blythewood. Situated within Northpoint Industrial Park, the building will feature a minimum 32-foot clear height; 54-foot by 50-foot bay spacing with a 60-foot speed bay; a 130-foot-deep truck court; motion-detected LED lighting; trailer parking; 13 dock doors expandable to 52; and two drive-in doors. The design allows for both single- and multi-tenant uses. Chuck Salley, Dave Mathews, Thomas Beard and John Peebles of Colliers will handle leasing at the property. A construction timeline was not disclosed.
CLEMSON, S.C. — Core Spaces has acquired Clemson Lofts, a 233-unit, 641-bed student housing community in Clemson. GEM Realty Capital joined Core Spaces as equity partner, and KKR provided financing. The seller and price were not disclosed. Clemson Lofts is positioned directly north of Tiger Boulevard, which is the main entryway into Clemson University and includes the most popular retail and restaurants. The property is spread across 19 acres and includes 14 separate residential buildings and a clubhouse. The floor plans include one-bedroom through four-bedroom units, each fully furnished with modern furniture and appliances. Features include high-end finishes, spacious living areas and ample storage areas. The community also boasts a variety of amenities, including a resort-style pool and hot tub, fitness center, outdoor yoga space, dog park, communal clubhouse and private study rooms. Clemson Lofts was originally built in 2015, and amenity spaces and select unit renovations started in 2021. Core and GEM plan to renovate the remaining units in summer 2024. “The growth of our acquisitions platform is predicated on finding great communities in Tier 1 university markets,” says Brendan Miller, chief investment officer of student housing at Core Spaces. “We believe the value-creation opportunities at Clemson Lofts amidst …
SPARTANBURG, S.C. — Rockefeller Group has broken ground on Spartanburg 221, a 1 million-square-foot speculative industrial facility located in Spartanburg. The 87.7-acre project will be situated off Highway 221 and approximately one mile northwest of the I-85 Exit 78 interchange. Spartanburg 221 will include 40-foot clear heights, 56- by 53-foot column spacing, up to 530 parking spaces and up to 237 trailer stalls. The design-build team includes architect Atlas Collaborative and general contractor Pattillo Construction. Campbell Lewis and Marcus Cornelius of CBRE are handling the leasing assignment. The duo is also leasing Rockefeller Group’s Duncan Logistics Center, a nearby 827,000-square-foot development that is nearing completion. The developer acquired the Spartanburg site last year and plans to deliver the facility in fourth-quarter 2024.
COVID-19 laid bare many problems inherent in offshore supply chains and spurred widespread interest in reshoring manufacturing to the United States. As companies and communities explore site selection and expansion opportunities, they should remember that manufacturing profitability often hinges on tax strategy. Staging a comeback For the first time in decades, industry and the public sector are working to make American manufacturing competitive in a rapidly changing global marketplace. The recent enactments of the Inflation Reduction Act, the Bipartisan Infrastructure Law and the CHIPS and Science Act have directed billions of dollars into enhancing domestic manufacturing capacity. The semiconductor industry presents a high-profile case study. The United States holds 12 percent of the world’s semiconductor manufacturing capacity, eroded from 37 percent in 1990. The CHIPS Act’s $52 billion in federal funding is intended to strengthen domestic semiconductor manufacturing, design and research and reinforce the nation’s chip supply chains, fortifying the economy and national security along the way. Simultaneously, the United States is becoming a leading producer of electric vehicles and vehicle battery plants. Since 2021, announced U.S. investments in semiconductors and electronics exceed $166 billion, and announced U.S. investments in electric vehicles and battery manufacturing exceed $150 billion. Deciding where …
Glenstar Secures $38.2M Construction Financing for Phase I of Industrial Park in Gaffney, South Carolina
GAFFNEY, S.C. — Glenstar has secured $38.2 million in construction financing for the development of the first phase of an industrial park in Gaffney. CrossHarbor Capital Partners provided the financing. Upon completion, the property, which is being developed by Glenstar and capital partner Creek Lane Capital, will total 3.6 million square feet across five buildings. The first phase of the park, which has been dubbed Cherokee Commerce Center 85 (CCC-85), will comprise a 555,520-square-foot building expandable to 1.3 million square feet. The building, known as 2A, will feature 232 dock doors, four drive-in doors, 540 parking spaces and 452 trailer spaces. Completion is scheduled for fall 2024. Subsequent phases of CCC-85 will include four additional warehouses totaling 1.7 million; 252,270; 278,200; and 211,640 square feet, respectively. The project team includes general contractor The Conlan Co., architect Ware Malcomb and civil engineer SeamonWhiteside. John Montgomery, Garrett Scott, Brockton Hall and Dillon Swayngim of Colliers will manage leasing at the property on behalf of ownership.
CHARLESTON, S.C. — Dallas-based Dalfen Industrial has signed AERO Logistics to an 80,814-square-foot lease at Eastport Distribution Center in Charleston. The tenant, which supports refrigerated supply chain efforts for third-party logistics, freight forwarding and airline cargo users, signed the five-year lease. Kevin Coats and Lee Allen of JLL represented Dalfen in the lease negotiations. Eastport Distribution Center is situated near I-26 and within 2.5 miles from Charleston International Airport.