EARLY BRANCH, S.C. — Frampton Construction plans to build a new 300,000-square-foot distribution facility in Early Branch for Le Creuset of America, a kitchen supply retailer that operates boutique and outlet stores around the country. Set for completion in late 2025, the facility will feature space for bulk and direct-to-consumer distribution, general storage and a two-story designated office space spanning 22,000 square feet with amenities including locker rooms, a kitchen/breakroom, outdoor patio with a grill and a stone walking path surrounding a pond. The space will also feature a lobby and a 2,180-square-foot storefront that will display Le Creuset’s cookware. The build-to-suit facility will sit on 62 acres along Bob Gifford Boulevard and consolidate the tenant’s operations in the area, as well as create 30 new jobs. Architect McMillan Pazdan Smith designed the facility to be expandable by 120,000 square feet.
South Carolina
RIDGEVILLE, S.C. — JLL has arranged the sale of Building D within Camp Hall Commerce Center, a 6,800-acre industrial park in the Charleston industrial market. The 1.1 million-square-foot facility is located at 2274 Volvo Car Drive in Ridgeville and was fully leased to an unnamed global car manufacturer at the time of sale. Completed in 2023, the cross-dock building features 40-foot clear heights, 208 dock-high doors, four drive-in doors, 84 dock levelers, 847 auto parking spaces and 804 trailer storage spaces. Rockpoint, a Boston-based real estate private equity firm, and Portman Industrial sold the property to Stockbridge for an undisclosed price. JLL represented the sellers in the transaction.
GASTON, S.C. — Red Rock Developments has delivered a 519,792-square-foot speculative industrial facility located at 201 Integrity Way in Gaston, a suburb of Columbia. The cross-dock warehouse is situated along I-26 in Calhoun County within the 760-acre Sandy Run Industrial Park, a portion of which also lies within Lexington County. Chuck Salley, Thomas Beard and John Peebles of Colliers are marketing the property to an industrial user for sale or lease on behalf of Red Rock. Colliers has also been retained for property management services. The design-build team includes Miller Valentine Construction, MCA Architecture, Alliance Consulting Engineers and S&ME. The facility, which is expandable to nearly 1.2 million square feet, is the only available industrial building in Central South Carolina with 40-foot clear heights, according to Red Rock.
MURRELLS INLET, S.C. — A fund launched by South Florida-based commercial real estate brokerage services firm NAI Merin Hunter Codman has sold Prince Creek Village, an 18,035-square-foot shopping center located at 11920 SC Highway 707 in Murrells Inlet, a suburb of Myrtle Beach. The fund, named MHCommercial Real Estate Fund, sold the property after five years of ownership to Prince Creek Investments LLC, an affiliate of Zapolski Real Estate LLC, for approximately $6.4 million. Tom Kolarczyk and Andrew Jomantas of JLL Capital Markets’ Charlotte office represented the seller in the transaction. Prince Creek Village was fully leased at the time of sale. The property is shadow-anchored by Publix and is adjacent to TPC Championship Myrtle Beach Golf Club.
Capital Development Partners Delivers 160,250 SF Industrial Facility Adjacent to Port of Charleston
by John Nelson
CHARLESTON, S.C. – Capital Development Partners has delivered Shipyard Creek, a new 160,250-square-foot transload industrial facility that offers direct access to the Port of Charleston. Situated on a 42-acre site adjacent to the port’s new $1.3 billion Hugh K. Leatherman Terminal, the property was designed to handle container movement from users including retail importers. Shipyard Creek features 153 dock doors, 724 trailer parking spaces and onsite storage parking that can accommodate five stacked shipping containers. Capital Development Partners has tapped Lee Allen, Kevin Coats and Tyler Smith of JLL to handle the project’s leasing assignment. Shipyard Creek enjoys access to the port’s marine terminals, as well as interstates and the upcoming SC Ports Navy Base Intermodal Facility, which will be dual-served by Norfolk Southern and CSX.
BLUFFTON, S.C. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $18.8 million sale of Bluffton Target Center, a shopping center located in Bluffton, approximately seven miles west of Hilton Head Island. Built in 2001, the property totals 100,314 square feet and was fully leased at the time of sale to tenants including Dick’s Sporting Goods, Staples and Starbucks Coffee. Zach Taylor of IPA represented the seller, an entity doing business as Stafford Bluffton LLC, in the transaction and procured the buyer, Tarantino Properties Inc.
NEW YORK CITY — New York City-based Newmark has arranged a $533 million loan for the refinancing of a multifamily portfolio located across six states in the Sun Belt. Boston-based investment firm West Shore is the borrower. Totaling 2,806 units, the portfolio comprises nine Class A, garden-style multifamily communities. The properties include: Citigroup provided the fixed-rate CMBS financing, which features a single-asset, single-borrower (SASB) loan structure. Purvesh Gosalia, vice chairman of Newmark, secured the financing on behalf of West Shore. According to a press release issued by the firm, this loan transaction reflects continued investor interest in the Sun Belt markets, which benefit from population growth and demand for rental housing. Newmark also recently announced an assignment to market 10 multifamily properties comprising 2,845 units across eight states for sale. The assets are expected to draw a total of roughly $500 million. — Hayden Spiess
IRVINE, CALIF. — BWE has arranged a $45.5 million loan for the financing of a Circle K portfolio across six states in the Sun Belt. Located in Arizona, Florida, Georgia, Louisiana, North Carolina and South Carolina, the portfolio comprises 104 single-tenant convenience store and gas station properties. Tom Kenny and Josh Boehling of BWE’s Irvine, Calif., office arranged the loan through a life insurance company on behalf of the undisclosed borrower. The five-year, fixed-rate financing features interest-only payments and a five-year extension option.
CH Realty Partners Secures $50M Refinancing for Industrial Facility Near Spartanburg, Carolina
by John Nelson
UNION, S.C. — Development and investment firm CH Realty Partners has secured a $50 million loan for the refinancing of its industrial facility located at 260 Midway Drive in Union, roughly 30 miles southeast of Spartanburg. Built in 2023 for mycelium technology company MycoWorks, the property spans 150,000 square feet. The refinancing with 3650 Capital will allow CH Realty Partners to optimize the capital structure of the property and ensure long-term support for MycoWorks. CH Realty Partners is also currently underway on a build-to-suit food manufacturing facility in Wilson, N.C., for Believer Meats.
Frampton Begins Construction on 100-Room Residence Inn Hotel in Mount Pleasant, South Carolina
by John Nelson
MOUNT PLEASANT, S.C. — Frampton Construction Co. has broken ground on a new, 100-room hotel in Mount Pleasant. Frampton is serving as the general contractor on behalf of the developer, Bennett Hospitality, which will operate the property as Residence Inn. Upon completion, the hotel will total 82,000 square feet across five stories. The Residence Inn will be situated within the five-phase, $500 million Patriots Annex development located on the east side of Charleston Harbor and will be within walking distance of Patriots Point Soccer Stadium, the College of Charleston Baseball Stadium x Tennis Center, the Patriots Point Links golf course and the Patriots Point Naval and U.S. /Maritime Museum. The Residence Inn hotel will feature a fitness center, pool, meeting rooms and dining and bar areas. The project team includes Winford Lindsay Architect and civil engineer Seamon Whiteside. Completion of the hotel is scheduled for 2026.