Monday, November 25, 2024
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South Carolina

DevelopmentIndustrialLeasing ActivitySouth CarolinaSoutheast

Smart Warehousing Leases 497,952 SF Industrial Facility Underway in Central South Carolina

by John Nelson

CALHOUN COUNTY, S.C. — Red Rock Developments has preleased the first speculative distribution facility at Sandy Run Industrial Park in Calhoun County, roughly 20 miles south of Columbia, to Smart Warehousing, a warehousing, fulfillment and technology solutions company. The tenant will occupy the full 497,952 square feet of the building, which is scheduled to be completed in the second quarter of 2023. The property is located near an Amazon distribution center, Nephron Pharmaceuticals, the PS Air HUB and the Columbia Metropolitan Airport. Chuck Salley, Dave Matthews, Thomas Bear and John Peebles of Colliers represented Red Rock in the lease negotiations. John Sharpe and John DeCuto of Lee & Associates represented Smart Warehousing.

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DevelopmentIndustrialSouth CarolinaSoutheast

Magnus Begins Construction on Two Buildings at 803 Industrial Park in Columbia, South Carolina

by John Nelson

COLUMBIA, S.C. — Magnus Development Partners has broken ground on two buildings at 803 Industrial Park, a development in Columbia adjacent to the Columbia Metropolitan Airport. Dubbed Gateway One and Gateway Three, the buildings comprise 252,720 square feet each. Delivery is scheduled for the second quarter of 2023. Magnus will break ground on a third building, the 408,240-square-foot Gateway Two, in the second quarter of 2023. Magnus also plans to develop the Gateway Four building, details of which were not disclosed, at a later date. Colliers manages leasing and marketing at the park on behalf of Magnus.

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AcquisitionsIndustrialSouth CarolinaSoutheast

JLL Brokers Sale of 837,400 SF Industrial Property in Metro Charleston

by John Nelson

LADSON, S.C. — JLL Capital Markets has arranged the sale of TradePark East, a newly constructed industrial campus comprising 837,400 square feet in Ladson, roughly 15 miles outside of Charleston. Patrick Nally, Pete Pittroff, Dave Andrews and Josh McArdle of JLL brokered the transaction on behalf of the seller, Trinity Capital Advisors. A partnership between TPG Capital and Dogwood Industrial Properties acquired the property, which was fully preleased during construction, for an undisclosed price.

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AcquisitionsMultifamilySeniors HousingSouth CarolinaSoutheast

Hudson Capital Sells Active Adult Community in Myrtle Beach for $53.2M

by John Nelson

MYRTLE BEACH, S.C. — Hudson Capital Properties (HCP) has sold Inspire Coastal Grand, a 194-unit active adult community in Myrtle Beach. An undisclosed buyer acquired the property for $53.2 million. Tai Cohen of Cushman & Wakefield represented HCP in the transaction. Units are available in one-, two- and three-bedroom options. Cape Fear Commercial co-developed the project alongside HCP. The partnership broke ground on the community in 2019. Like many of the Southeastern markets where HCP invests, the greater Myrtle Beach area benefits from continued population growth that has strong potential to continue over the long term, according to HCP.

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Leasing ActivityNorth CarolinaOfficeSouth CarolinaSoutheast

IWG to Open Five New Regus Coworking Locations in the Carolinas

by John Nelson

ZUG, SWITZERLAND — IWG plc, a Swiss coworking provider, plans to open five new Regus-branded flexible offices in North and South Carolina. The five locations include 3511 Shannon Road in Durham; 8024 Glenwood Ave. in Raleigh; 140 Stoneridge Drive in Columbia, S.C.; 222 N Lafayette St. in Shelby, N.C. (Charlotte suburb); and 900 Trail Ridge Road in Aiken, S.C. (Augusta suburb). All five locations will offer IWG’s full suite of services, including private offices, coworking and collaboration spaces, meeting rooms and a host of tech services, including IT support. The new Carolinas locations are part of IWG’s plan to add more than 500 locations throughout the United States.

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AcquisitionsOfficeSouth CarolinaSoutheast

Highland Ventures Purchases Boutique Office Building in Downtown Charleston for $16.8M

by John Nelson

CHARLESTON, S.C. — Highland Ventures has purchased 174 Meeting, a 47,113-square-foot boutique office building in historic downtown Charleston. Cobalt Property Group sold the property to Highland for $16.8 million. Matt Smith, Patrick Gildea, Grayson Hawkins, Robert Hardaway, Charles Carmody and Ryan Carmody of CBRE represented the seller in the transaction. Insite Properties advised Highland Ventures. Built in 2014 near the intersection of Meeting and Market streets, 174 Meeting was fully leased at the time of sale to tenants including Truist Bank, Thrive Co-Working, Stifel Financial Corp. and Evening Post Industries. The property features three levels of office space above a ground-level bank, lobby and parking.

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DevelopmentIndustrialSouth CarolinaSoutheast

NorthPoint Breaks Ground on 3.3 MSF Industrial Park in Spartanburg, South Carolina

by John Nelson

SPARTANBURG, S.C. — Kansas City-based NorthPoint Development has broken ground on the first phase of Spartan Enterprise Park, a 310-acre industrial park in Spartanburg that will span nearly 3.3 million square feet upon completion. Phase I comprises two buildings spanning more than 1.3 million square feet, and future phases can accommodate an additional 1.9 million square feet of space. The Colliers team of Garrett Scott, Brockton Hall and Dillon Swayngim helped facilitate the land purchase and will handle all leasing for the park on behalf of NorthPoint. Preleasing for Building One and Building Two is underway, and completion is expected for fourth-quarter 2023. Spartan Enterprise Park is located at 2116 U.S. Highway 221/Chesnee Highway, which is less than one mile from I-85, four miles from downtown Spartanburg and approximately 20 miles from Inland Port Greer, Greenville-Spartanburg International Airport and BMW’s regional manufacturing plant.

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DevelopmentIndustrialSouth CarolinaSoutheast

Janko, Cresset Partners Begin Construction on 1.5 MSF Industrial Park in St. George, South Carolina

by John Nelson

ST. GEORGE, S.C. — A joint venture between Janko Group and Cresset Partners has broken ground on Port 95, a business park project in St. George that will span nearly 1.5 million square feet. The campus will feature three buildings: Building 1 will comprise 978,120 square feet, Building 2 will comprise 242,000 square feet and Building 3 will be 240,000 square feet in size. The first two buildings, which will be constructed simultaneously, are expected to be complete in spring 2024. Bridge Commercial will serve as the exclusive leasing agent on behalf of the ownership. Peak Construction Corp. is acting as the designer and builder for the site work, the first two buildings and the widening of Highway 78. Architects LS3P and McMillan Pazdan Smith will design Building 1 and Building 2, respectively. Seamon Whiteside is acting as the civil engineer for both buildings, as well as for the site work and highway widening.

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AcquisitionsIndustrialSouth CarolinaSoutheast

JLL Arranges Sale of 450,033 SF Logistics Center in Graniteville, South Carolina

by John Nelson

GRANITEVILLE, S.C. — JLL has brokered the sale of Global Avenue Logistics Center, a 450,033-square-foot, multi-tenant logistics facility located in the western South Carolina city of Graniteville. The facility, which comprises 30 acres, is located at 1043 Global Ave. within Sage Mill Industrial Park. Edgewater Ventures and Singerman Real Estate sold the property for an undisclosed price. Pete Pittroff, Britton Burdette, Patrick Nally, Dave Andrews and Zach Lloyd of JLL represented the sellers and procured the buyer, LM Real Estate Partners, in the transaction.

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DevelopmentHospitalitySouth CarolinaSoutheast

Lowe Tops Out 225-Room Cooper Hotel in Downtown Charleston

by John Nelson

CHARLESTON, S.C. — Lowe, with construction company BL Harbert International, has completed the vertical construction of The Cooper, a 225-room, waterfront hotel located at 176 Concord St. in downtown Charleston. The hotel will feature 12,000 square feet of ground-floor retail space, a 7,000-square-foot spa and fitness center, almost 20,000 square feet of indoor-outdoor event space, food-and-beverage offerings and an outdoor infinity-edge pool. Lowe is also working with the City of Charleston to expand Joe Riley Waterfront Park at the site by 400 feet. McMillan Pazdan Smith and Robert Glazier were architects for the project, with interior design by Champalimaud Design and landscape architecture by DesignWorks.

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