South Carolina

Cushman & Wakefield Arranges $78.4M Sale of Two Apartment Communities in Myrtle Beach, South Carolina

by John Nelson December 14, 2022

MYRTLE BEACH, S.C. — Cushman & Wakefield has arranged the $78.4 million sale of two adjacent multifamily communities in Myrtle Beach’s Little River submarket. The assets include The Banks at Bridgewater, a new 252-unit multifamily community, and Stepping Stone at Bridgewater, a 44-unit build-to-rent community. Tai Cohen, John Phoenix and Louis Smart of Cushman & Wakefield represented the seller, Wakefield Residential, in the transaction. PassiveInvesting.com, a private equity real estate investment firm based in the Carolinas, was the buyer. Craig Davis Properties developed Banks at Bridgewater earlier this year. The property’s amenities include a coffee bar, on-demand yoga, saltwater pool, walking trails and units featuring built-in workspaces. Built in 2020, Stepping Stone at Bridgewater comprises two-bedroom/two-bath duplexes with attached garages in a neighborhood, cul-de-sac-style setting.

December 14, 2022

Development Multifamily South Carolina Southeast

Monday Properties, Glenmont Capital Break Ground on 338-Unit Willow Apartments in North Charleston

by John Nelson December 13, 2022

NORTH CHARLESTON, S.C. — Monday Properties, a multifamily developer with offices in New York City and Arlington, Va., and partner Glenmont Capital Management have broken ground on The Willow, a 338-unit apartment community located at 7562 Plantation Road in North Charleston. Monday Properties purchased the site in November 2021 and secured $48 million in construction financing from Sandy Spring Bank. The Class A multifamily community is expected to deliver in late first-quarter 2024. Amenities will include a zero-entry, saltwater pool, grilling cabana, pickleball court, outdoor fitness area, courtyards, 24-hour fitness center and yoga studio, a lounge and game room and a covered patio overlooking the pool, as well as coworking and conference spaces and a community room. The pet-friendly community will also feature a half-acre dog park.

December 13, 2022

Bahadir Yetki, Kontrolmatik Technologies

Development Industrial South Carolina Southeast Top Stories

Kontrolmatik Plans $279M Lithium Ion Battery Factory in Colleton County, South Carolina

by Taylor Williams December 12, 2022

COLLETON COUNTY, S.C. — Kontrolmatik Technologies, a construction and engineering firm based in Istanbul, has unveiled plans for a $279 million plant in coastal South Carolina’s Colleton County that will manufacture lithium ion batteries. Pomega Energy Storage Technologies, a subsidiary of Kontrolmatik, will operate the facility, which is scheduled for completion in 2024. At that time, Kontrolmatik, whose U.S. headquarters are based in Northern Virginia, expects to employ about 575 people at the facility. The exact site was not disclosed, but the southern portion of the county touches the Atlantic Ocean and offers proximity to the Port of Charleston. This aspect of the location, along with access to a qualified workforce, should help address domestic reliance on foreign supply chains for these critical devices, according to the site selection team. Keith Stauber and Meredith O’Connor of JLL led the site selection efforts for Kontrolmatik, a process that involved touring more than 200 locations. The factory will have a three-gigawatt hour capacity, meaning its annual energy consumption is enough to power about 2.3 million American homes. “South Carolina and Colleton County were aggressive in their pursuit of this exciting project and put forth compelling economic, supply chain and workforce reasons why …

December 12, 2022

Development Industrial Leasing Activity South Carolina Southeast

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

by John Nelson December 9, 2022

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.

December 9, 2022

Development Industrial South Carolina Southeast

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

by John Nelson December 2, 2022

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.

December 2, 2022

Acquisitions Industrial South Carolina Southeast

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

by John Nelson December 2, 2022

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.

December 2, 2022

Acquisitions Multifamily Seniors Housing South Carolina Southeast

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

by John Nelson November 30, 2022

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.

November 30, 2022

Leasing Activity North Carolina Office South Carolina Southeast

IWG to Open Five New Regus Coworking Locations in the Carolinas

by John Nelson November 30, 2022

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.

November 30, 2022

Acquisitions Office South Carolina Southeast

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

by John Nelson November 22, 2022

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.

November 22, 2022

Development Industrial South Carolina Southeast

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

by John Nelson November 18, 2022

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.

November 18, 2022

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