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.
South Carolina
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.
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.
SPARTANBURG, S.C. — Hughes Commercial Property is underway on its I-26 Logistics Center, a 226,800-square-foot industrial facility located in Spartanburg. Scheduled for completion in the second quarter of 2023, the facility will feature 32-foot clear heights, 60 dock doors, two drive-in doors, 53 trailer parking spaces and 225 car parking spaces. Other industrial and distribution companies located in the park include Walmart Return Center, Master Gardener and Yusen Logistics. Harper General Contractors is coordinating construction, and Lee & Associates will manage leasing at the property.
GREENVILLE, S.C. — Aspens Senior Living has completed construction of The Aspens Verdae, a 159-unit active adult community in Greenville. The property totals 196,000 square feet and offers one-and two-bedroom options ranging from 607 square feet to 1,243 square feet. Aspens broke ground on the project in December 2020. It is the company’s second community in the Carolinas. The site is close to Legacy Park, The Preserve at Verdae Golf Club and the Prisma Health Swamp Rabbit Trail, a 22-mile walking and biking greenway that connects Greenville to Travelers Rest, S.C. Shiel Sexton served as general contractor for The Aspens Verdae, with Arrive Architecture Group as designer for the project.
GAFFNEY, S.C. — New York-based Treeline has acquired a 36-acre site in Gaffney, a city in South Carolina roughly equidistant between Greenville, S.C., and Charlotte. Treeline was self-represented in the transaction, in which they acquired the property from Hart Consumer Products Inc. The land will be used for the development of a 300,000-square-foot, $30 million industrial facility dubbed Victory Crossing. The project will mark Treeline’s third industrial facility in the Southeast. Choate Construction Co. will serve as general contractor for the development, with Warren Snowdon of Foundry Commercial acting as the exclusive leasing agent for the property, which will house manufacturing and warehouse/distribution tenants.
Berkadia Arranges $87.8M Acquisition Loan for Affordable Housing Portfolio in Georgia, South Carolina
by John Nelson
ATLANTA — Berkadia has arranged $87.8 million in acquisition financing for a 13-property affordable housing portfolio in Georgia and South Carolina. Jeff Lawrence of Berkadia’s Atlanta office arranged the two-year loan on behalf of the borrower, Georgia-based Infinity RE Impact. The portfolio comprises 12 Georgia properties, including Lake Forest Apartments in Gainesville; Forest Creek at Moultrie Apartments in Moultrie; Lakeview Apartments in Carrollton; Rolling Ridge Apartments in Athens; Shenandoah Forest Apartments in Newnan; Sunny Brook Apartments Road in Elberton; Briarwood Apartments in Jesup; Indian Oaks in Fort Valley; Shadowood in Augusta; The Cliffs in Dalton; Georgian Woods in Douglas; and Riverbend in Milledgeville. The lone South Carolina property in the portfolio is Crestview Village in Easley.
NORTH CHARLESTON, S.C. — ECI Group has acquired The Factory at Garco Park, a 271-unit apartment community located at 4993 O’Hear Ave. in North Charleston’s Park Circle neighborhood. SouthState Bank provided an undisclosed amount of acquisition financing. Alex Okulski of Newmark represented the unnamed seller in the transaction. Atlanta-based ECI Group purchased the Factory at Garco Park for an undisclosed price in a 1031 exchange involving the recent sale of The Columns at Vinings in metro Atlanta. Built in 2017, Factory at Garco Park features studio, one-, two- and three-bedroom units, as well as a saltwater pool with cabanas, outdoor kitchen and grill area, outdoor pavilion, 24/7 fitness center, clubroom, conference room, dog park and pet spa, car washing station, Amazon Hub Lockers, boat storage, community bikes and a fire pit. The community represents ECI Group’s entry into the greater Charleston market.
Montford, Opterra Capital Acquire 136-Room Aloft by Marriott Hotel in North Charleston
by John Nelson
NORTH CHARLESTON, S.C. — A partnership between The Montford Group and Opterra Capital has acquired the 136-room Aloft Charleston Airport and Convention Center hotel by Marriott in North Charlesotn. The hotel is situated across I-526 from Charleston International Airport and near the Tanger Outlets Charleston. The new ownership plans to invest nearly $3 million to renovate the hotel and has hired Aimbridge Hospitality as a third-party operator. The seller and sales price were not disclosed. The hotel features a fitness center, business center, market, lounge, indoor pool and dry cleaning services. In addition to the Aloft hotel, Montford and Opterra Capital are currently developing four hotels in the Charleston market, including Moxy by Marriott, which is currently under construction and scheduled to open in early 2023.
Blaze Capital, Cross Lake Sell 132-Unit Single-Family Rental Community in Summerville, South Carolina
by John Nelson
SUMMERVILLE, S.C. — Blaze Capital Partners and Cross Lake Partners have sold Chamberlain Pines, a 132-unit single-family rental community in Summerville, a suburb of Charleston. The duo delivered the townhome-style property last year. The buyer and sales price were not disclosed. Chamberlain Pines features two-story townhomes averaging 1,685 square feet across three and four-bedroom rental units. All units feature attached garages, concrete backyard patios and private, fenced-in yards.