CHARLESTON, S.C. — NAI Charleston has brokered the $12 million sale of two retail buildings located at 585 and 587 King St. in Charleston’s Upper King Street district. These buildings, which span approximately 13,700 square feet, were leased to Fuji Sushi Bar and Uptown Social at the time of sale. Thomas Boulware of NAI Charleston represented the undisclosed buyer in the transaction. Tim Weldon of Colony Commercial Real Estate represented the locally based seller, Vanderking Properties.
ROCK HILL, S.C. — Karis Cold is under construction on a 277,785-square-foot cold storage facility in Rock Hill. Situated on a 40-acre site, the project represents the first cold storage speculative facility in metro Charlotte. The property, which Karis Cold expects to open in first-quarter 2024, will feature convertible freezers, 50-foot clear heights, 28 dock doors with two drive-in doors, 47 trailer parking stalls and 147 regular parking spaces. Spencer Yorke, John Cashion and Rich Grieder of JLL will lead the development’s marketing and leasing efforts on behalf of Karis Cold.
LYMAN, S.C. — Kansas City-based Hunt Midwest has completed construction on Fort Prince Logistics Center, an industrial project comprising 476,280 square feet in Lyman, roughly 20 miles northeast of Greenville. Located within Fort Prince Industrial Park at 1090 Fort Prince Blvd., the cross-dock development features 48 dock positions with 36-foot clear heights, mechanical dock equipment, 7-inch concrete slab flooring, speculative office space, 189 surface parking stalls (expandable to 385), up to 125 tractor trailer parking stalls and a 135-foot-deep truck court. Seamon Whiteside provided civil engineering services; LS3P designed the building; and Evans General Contractors oversaw construction. John Montgomery, Garrett Scott, Brockton Hall and Dillon Swayngim of Colliers will handle leasing at the development.
COLUMBIA, S.C. — Greystone has arranged $27.1 million in financing for Merrill Gardens at Columbia, a 120-unit seniors housing community in Columbia. The five-year loan for the independent living and assisted living community featured a floating interest rate, 30-year amortization schedule, three years of interest-only payments and a mid-200 basis point loan spread. Tyler Armstrong of Greystone worked with the client in placing the regional bank loan on behalf of the borrowers, AEW Capital Management and Merrill Gardens, a seniors housing owner-operator based in Seattle.
ROCK HILL, S.C. — The Keith Corp., with partners Springsteen Properties and Capitol Broadcasting Co., will break ground Tuesday, Jan. 17 on The Thread, a 400,000-square-foot adaptive reuse project located in Rock Hill, roughly 30 miles southwest of Charlotte. Built in 1946, the property originally housed a textile mill and warehouse. Upon completion, the first phase of development will feature 170,000 square feet of office space and 30,000 square feet of ground-floor retail space. Delivery is scheduled for January 2024. Horizon Bank is providing construction financing. A second phase — construction of which will commence upon completion of the first — will include 200,000 square feet of residential and retail space, with apartments in one-, two- and three-bedroom layouts.
CHARLESTON, S.C. — Aventon Cos. has broken ground on Aventon Bees Ferry, a 394-unit apartment community located on a 30-acre site in Charleston’s West Ashley submarket. The development is the first project in South Carolina for the Raleigh-based developer. Situated near the intersection of Bees Ferry Road and Savannah Highway, Aventon Bees Ferry will feature one-, two- and three-bedroom apartments, as well as a community clubhouse with a fitness center and coworking spaces and two courtyards that will feature a resort-style pool, gaming lawn, pet spa and a dog park. Aventon expects to open Aventon Bees Ferry in early 2024. Other members of the development team include Watts Leaf Architects, Studio 5 Interiors Inc. and Thomas & Hutton.
CHARLESTON, S.C. — Atlanta-based SJC Ventures has announced plans to break ground on the second phase of West Ashley Station, a retail center in Charleston, later this month. The first phase was built in 2016 with a 45,062-square-foot Whole Foods Market as the anchor tenant. Phase II of the development will add 20,000 square feet of shopping, dining and fitness space. Demolition of a building that formerly housed a Doscher’s IGA Supermarket will occur this month, with vertical construction scheduled to begin in the first quarter of 2023. Planned tenants include Hollywood Feed, Hand & Stone, Another Broken Egg, MADabolic, Pacific Dental and GoodVets. The center is currently 93 percent leased.
NORTH MYRTLE BEACH, S.C. — Edgewater Ventures plans to develop a 164,850-square-foot build-to-suit distribution facility in North Myrtle Beach for Pepsi Bottling Ventures LLC (PBV). Located in Palmetto Coast Industrial Park, the project will break ground in January of next year. Constructed on 25 acres, the PBV facility will feature tilt-up concrete construction, 30-foot minimum clear heights, an ESFR sprinkler system and expansion capability up to 217,000 square feet. PBV marks the first tenant at the park, which will comprise 720,000 square feet upon completion and includes a dedicated interchange at Highway 31.
GREENWOOD, S.C. — An affiliate of Phoenix Investors has purchased the Fujifilm North American Campus in Greenwood, which has been home to Fujifilm Manufacturing U.S.A. Inc. since 1988. The 11-building property spans more than 2.7 million square feet over 500 acres. Fujifilm has leased back approximately 50 percent of the campus from the buyer and plans to keep over 300 employees at the site for manufacturing and administrative purposes. Phoenix Investors plans to market approximately 1.4 million square feet of space for lease to new tenants. James Medbery, Doug Faris and Shaun Kirchin of Binswanger brokered the transaction. The sales price was not disclosed.
SUMMERVILLE, S.C. — Frampton Construction has delivered a 204,000-square-foot speculative industrial facility within Portside Distribution Center in Summerville, about 25 miles northwest of Charleston via I-26. Randolph Development is the developer of the facility, the second building within the industrial park. Colliers is leasing the property for lease. The rear-load, tilt-wall facility features clear heights of 32 feet, 38 dock doors, four drive-in doors, 142 car parking spaces and 52 trailer parking spaces. The design-build team includes civil engineer Thomas & Hutton and architect McMillan Pazdan Smith.
