South Carolina

Atlas, FIDES Acquire Site in Charleston for 331-Unit Darby Apartment Project

by John Nelson January 30, 2023

CHARLESTON, S.C. — Atlas Real Estate Partners and FIDES Development have acquired a site in Charleston for the development of The Darby, a 331-unit multifamily community. Located at 1590 Meeting St., the asset will be situated in Charleston’s NoMo corridor. Full entitlements and site plan approval have been obtained for the project, which will include units in studio, one- and two-bedroom layouts. Upon completion, the community will feature two courtyards, a pool, pickleball court, dog park and 9,000 square feet of indoor amenity space, including a coworking facility. The sales price for the land was not disclosed.

January 30, 2023

Georgia Industrial Market Reports South Carolina Southeast Southeast Market Reports

Port Authorities in Charleston, Savannah are Pushing the Boundaries

by John Nelson January 30, 2023

As port authorities around the country invest billions of dollars in infrastructural improvements, industrial users are taking notice and looking for sites near all the action. In the Southeast, the elevated demand for new industrial space near the Port of Savannah and Port of Charleston is pushing the boundaries as far as what’s considered normal levels for property performance indicators such as new construction, rent growth and leasing activity. “It’s hard to say that anything is ‘normal’ right now — there are a lot of new phenomena out there,” says Robert Barrineau, senior vice president of CBRE’s Charleston office. “We are seeing nationally now that a tie to a seaport as being key for economic growth and for operational efficiencies for companies.” In one of the bigger announcements in 2022, Hyundai Motor Group chose a 3,000-acre site in Bryan County, which is close to both the Port of Savannah and Interstate 95, for its $5.5 billion manufacturing plant. Construction is already underway, and the facility should be operating at full capacity, which entails production of 300,000 units annually, by the first half of 2025. The South Korean automotive giant intends to use a combination of local labor and AI technology …

January 30, 2023

Acquisitions Restaurant Retail South Carolina Southeast

NAI Charleston Brokers $12M Sale of Two Retail Buildings in Charleston’s Upper King District

by John Nelson January 25, 2023

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.

January 25, 2023

Development Industrial South Carolina Southeast

Karis Cold to Open 277,785 SF Cold Storage Facility in Metro Charlotte in 2024

by John Nelson January 24, 2023

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.

January 24, 2023

Development Industrial South Carolina Southeast

Hunt Midwest Delivers 476,280 SF Industrial Development in Lyman, South Carolina

by John Nelson January 23, 2023

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.

January 23, 2023

Loans Seniors Housing South Carolina Southeast

Greystone Arranges $27.1M Financing for Seniors Housing Community in Columbia, South Carolina

by John Nelson January 10, 2023

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.

January 10, 2023

Development Mixed-Use Office Retail South Carolina Southeast

Keith Corp. to Break Ground on 400,000 SF Adaptive Reuse Project in Rock Hill, South Carolina

by John Nelson January 9, 2023

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.

January 9, 2023

Development Multifamily South Carolina Southeast

Aventon Breaks Ground on 394-Unit Apartment Community in Charleston

by John Nelson January 5, 2023

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.

January 5, 2023

Development Retail South Carolina Southeast

SJC Ventures to Break Ground on 20,000 SF Second Phase of West Ashley Station Retail Development in Charleston

by Jeff Shaw December 19, 2022

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.

December 19, 2022

Development Industrial South Carolina Southeast

Edgewater to Develop 164,850 SF Distribution Facility in Coastal South Carolina for Pepsi Bottling Ventures

by John Nelson December 16, 2022

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.

December 16, 2022

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