South Carolina

WRS Acquires Three Industrial Buildings Totaling 55,643 SF in Metro Charleston

by Julia Sanders April 21, 2022

SUMMERVILLE, S.C. — WRS Inc. Real Estate Investments has acquired three fully tenanted industrial/flex buildings totaling 55,643 square feet in Summerville. Patrick Marr of WRS Inc. represented the firm internally. The seller and sales price were not disclosed. The industrial/flex buildings include the following: 114-A&B Trigard Lane (20,803 square feet); 215-A&B Varnfield Drive (25,000 square feet); and 220 Varnfield Drive (9,840 square feet). The properties are located about 25 miles from Charleston and 18 miles from Charleston International Airport.

April 21, 2022

Development Industrial South Carolina Southeast

Citimark, Pure Development, NCP Capital Plan $200M Industrial Project in Metro Charleston

by Julia Sanders April 18, 2022

SUMMERVILLE, S.C. — Indianapolis-based partners Citimark Inc. and Pure Development Inc., along with Charleston-based NCP Capital LLC, have plans to build Coastal Crossroads, a $200 million industrial project in Summerville. Coastal Crossroads will include more than 2.5 million square feet of new industrial distribution and manufacturing space. The project is a 180-acre master planned industrial park with speculative and build-to-suit opportunities. Additionally, about 1 million square feet of space will be available in early 2023 for leasing. Located on Strathmore Road along Interstate 26, the project will be situated within 30 miles or less of three South Carolina Ports Authority terminals. The industrial park will also be 21.1 miles from Charleston International Airport and about 20 miles from downtown Charleston. Bob Barrineau, Tim Raber and Brendan Redeyoff of CBRE will handle leasing and marketing efforts for Coastal Crossroads.

April 18, 2022

Alabama Conference Coverage Features Georgia Industrial North Carolina South Carolina Southeast Southeast Feature Archive Virginia

I-85 Corridor Markets See Explosion of Industrial Development, But InterFace Panelists Wonder if Housing Will Follow

by John Nelson April 15, 2022

CHARLOTTE, N.C. — During the closing panel at France Media’s InterFace I-85 Industrial Corridor conference, brokers from the major markets along the 666-mile interstate gave updates about developments and opportunities in their territories. Brockton Hall, vice president of Colliers’ Upstate South Carolina office, said that the Greenville-Spartanburg industrial market in South Carolina had 16 million square feet of industrial space under construction, which represents an inventory growth of approximately 7.4 percent. Graham Stoneburner, senior vice president of Cushman & Wakefield, said that the Richmond, Va., market currently had 11 million square feet underway, which represents an inventory growth of 11 percent. Similarly Robbie Perkins, shareholder and market president at NAI Piedmont Triad, said North Carolina’s Triad region had 8.7 million square feet in the development pipeline, a nearly 11 percent growth rate compared to the market’s 80 million-square-foot inventory. During nearly every panel throughout the conference, which was held on Wednesday, April 13 at the Hilton Uptown Charlotte, brokers, investors and developers described the industrial growth along the I-85 Industrial Corridor as “unprecedented.” “There’s a real lack of supply at the moment, but we have a lot coming,” said John Montgomery, managing director of Colliers’ Upstate South Carolina office, during …

April 15, 2022

Development Industrial South Carolina Southeast

Red Rock Breaks Ground on 497,952 SF Industrial Facility in Gaston, South Carolina

by Julia Sanders April 6, 2022

GASTON, S.C. — Columbia, S.C.-based Red Rock Developments has broken ground on a 497,952 square-foot facility in Gaston. Construction is slated for completion by the second quarter of 2023. The cross-dock property will be the first spec facility within Sandy Run Industrial Park, a 761-acre park that will ultimately span 5.9 million square feet, according to Red Rock. The first building will feature 36-foot clear heights and will be expandable to 663,836 square feet. Chuck Salley, Dave Matthews, Thomas Beard and John Peebles of Colliers will oversee leasing at the property. Located along Interstate 26, Sandy Run Industrial Park is situated near the Port of Charleston, an Amazon distribution center and Columbia Metropolitan Airport.

April 6, 2022

Acquisitions Industrial South Carolina Southeast

MDH Partners Acquires 158,886 SF Industrial Facility in Upstate South Carolina

by Julia Sanders April 1, 2022

PIEDMONT, S.C. — Atlanta-based MDH Partners has acquired 301 Grove Reserve, a 158,886-square-foot industrial building in Piedmont, about 12.5 miles from Greenville. Joe DeHaven served as the acquisition lead for MDH Partners. Clay Williams and Grice Hunt of NAI Global represented the undisclosed seller in the transaction. The sales price was also not disclosed. Built in 2021, 301 Grove Reserve is fully leased to an undisclosed pharmaceutical company that uses the facility to distribute cosmetic and pharmaceutical goods across the country. Situated in the Upstate’s I-85 West submarket, 301 Grove Reserve is located off Grove Reserve Parkway and is located only 16 miles southwest of Greenville-Spartanburg International Airport and 22 miles southwest of Inland Port Greer.

April 1, 2022

Development Hospitality Loans South Carolina Southeast

Newmark Secures $53M Construction Loan for Hotel Development in Johns Island, South Carolina

by Julia Sanders March 22, 2022

JOHNS ISLAND, S.C. — Newmark has secured a $53 million construction loan for The Dunlin, Auberge Resorts Collection at Kiawah River, a 72-room hotel project in Johns Island. Jordan Roeschlaub, Dustin Stolly and Nick Scribani of Newmark arranged the loan through United Bank on behalf of the borrower, Kiawah River Hospitality Group. Construction on the project is slated for completion by 2024. The Dunlin is located within the Kiawah River master-planned residential resort community. The project will be situated along the 12-mile riverfront, offering 2,000 acres of nature trails and marshlands. The hotel will feature a branded restaurant and lounge and over 10,000 square feet of event space, including a 5,200-square-foot wedding hall. Resort amenities will include a pool with cabanas, full-service spa and a riverfront swim and fitness facility. The Dunlin will be the newest addition to the Auberge Resorts Collection’s portfolio of luxury hotels, resorts and residences.

March 22, 2022

Acquisitions Florida Multifamily North Carolina South Carolina Southeast

Arch Cos. Sells Multifamily Portfolio in Carolinas, Florida for $199M

by Julia Sanders March 18, 2022

NEW YORK CITY — Arch Cos. has sold 1,993 multifamily units across six properties in Winston-Salem, N.C.; Spartanburg, S.C.; and Jacksonville, Fla. The sales price was $199 million. The buyer was not disclosed. Arch Cos. invested more than $15.5 million in capital expenditures in the properties and renovated 59 percent of all units over the past two years. The properties in the sale include The Arlington, The Arcadian and The Charleston in Winston-Salem; The Abner in Spartanburg; and Riverbank and Midtown Oaks in Jacksonville. Jeffrey Julien, Roberto Casas, Vic Ciancetta, Bill Weber, Bill Shippen and Denise Fansler of JLL represented Arch Cos. in the portfolio transaction. Other agents involved in the transaction include Kay Hill and Bern DuPree of Furman Capital Advisors and John Rutherford of NAI Hallmark.

March 18, 2022

Acquisitions Development Mixed-Use South Carolina Southeast Top Stories

13th Floor Investments Acquires 168 Acres in Greenville, Plans for Mixed-Use Development

by Julia Sanders March 18, 2022

GREENVILLE, S.C. — Miami-based 13th Floor Investments has acquired 168 acres in Greenville with plans to build the first phase of On The Trail, a mixed-use project. The sales price for the land was not disclosed. In partnership with Miami-based developers Dean Warhaft and Warren Zinn, the team plans to redevelop the abandoned 250 acres surrounding Greenville’s historic Union Bleachery mill, which fronts the Swamp Rabbit Trail, a 22-mile, multi-use recreational greenway. Originally built in the 1990s, The Union Bleachery mill formerly was used as a commerce center but has sat vacant since a fire shut down its operations in 2003. 13th Floor Investments, which now owns a majority ownership stake in the development project, will take over the management, construction and implementation of Warhaft and Zinn’s strategic vision for the site. Warhaft is a licensed professional land surveyor with experience as a real estate development lawyer and manager of all aspects of construction projects. Zinn is an attorney with experience acquiring, developing and managing commercial properties. On The Trail will be built in multiple phases, featuring a variety of residential, commercial, office, retail and hospitality uses. Construction of the project’s first phase is slated to begin later this year …

March 18, 2022

Development Industrial South Carolina Southeast

Keith Corp., Singerman Complete 1 MSF Industrial Property in Summerville, South Carolina

by Julia Sanders March 11, 2022

SUMMERVILLE, S.C. — Charlotte-based The Keith Corp. and its Chicago-based partner Singerman Real Estate has completed a 1 million-square-foot industrial property in Summerville. The concrete tilt-wall and steel frame industrial building was built as part of the three-million-square-foot, 230-acre Charleston Trade Center campus. Twin Star Home, a designer and manufacturer of indoor and outdoor living products, will lease the building. Twin Star Home’s new cross-docked facility features 40-foot clear heights, 120 dock doors, two drive-in doors and 4,000 square feet of upfit office space. Construction began in January 2021 and was completed in less than 12 months. McMillan Pazdan Smith Architecture designed the project, Frampton Construction was the general contractor and Alliance Consulting Engineers was the civil engineer. Lee Allen and Kevin Coats of JLL handled the marketing and leasing for the development team.

March 11, 2022

Loans Multifamily South Carolina Southeast

KeyBank Secures $40M Refinancing for Multifamily Property in Charleston

by Julia Sanders March 9, 2022

CHARLESTON, S.C. — KeyBank Real Estate Capital has secured a $40 million Freddie Mac loan for the refinancing of Paxton Pointe Hope Apartments, a 274-unit community in Charleston. Hayley Suminski of KeyBank structured the financing for the Framingham, Mass.-based borrower, VTT Management. The fixed-rate loan features five years of interest-only payments. Built in 2018 on more than 20 acres, Paxton Pointe Hope is a low-rise apartment complex featuring 12 three-story residential buildings. The property offers studios, one-, two- and three-bedroom floorplans. Unit features include patios or balconies, designer kitchens, full-size laundry appliances and walk-in closets. Community amenities include a saltwater pool, recreation room, fitness center and a fenced dog park.

March 9, 2022

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