South Carolina

JLL Arranges Sale of 255,868 SF Shopping Center in Metro Charlotte

by Julia Sanders February 10, 2022

INDIAN LAND, S.C. — JLL Capital Markets has arranged the sale of Promenade at Carolina Reserve, a 255,868-square-foot shopping center in Indian Land, a South Carolina suburb of Charlotte. Jim Hamilton, Brad Buchanan, Tom Kolarczyk, Ryan Eklund and Andrew Kahn of JLL represented the seller, Chattanooga, Tenn.-based Hutton. Dallas-based Bandera Ventures acquired the property for an undisclosed amount. Completed in 2018, Promenade at Carolina Reserve was fully leased at the time of sale to tenants including T.J. Maxx, Burlington, Ross Dress for Less, HomeGoods, Ulta Beauty, Hobby Lobby and Petco. Additionally, the center includes five single-tenant outparcel pads totaling 22,410 square feet, which are leased to Heartland Dental, The Habit Burger Grill, Taco Bell, Chili’s and Mavis Discount. Located at US 521 at Jim Wilson Road, Promenade at Carolina Reserve is situated 25.4 miles from Charlotte and is 27.4 miles from the Charlotte Douglas International Airport.

February 10, 2022

Acquisitions Retail South Carolina Southeast

SRS Brokers $14.5M Sale of Walmart-Occupied Retail Property in Summerville, South Carolina

by Julia Sanders February 7, 2022

SUMMERVILLE, S.C. — SRS Real Estate Partners’ National Net Lease Group has brokered the sale of a single-tenant retail property in Summerville leased to Walmart Neighborhood Market. Richard Dorfman of SRS represented the 1031 exchange buyer, a private investor from California. The seller, an undisclosed investor based in Florida, sold the property for $14.5 million. Cushman & Wakefield represented the seller in the transaction. Built in 2016 on nearly seven acres at 1616 Central Ave., the store is situated at the signalized intersection of Orangeburg Road and Central Avenue. The property is located 22.6 miles from North Charleston and 26.7 miles from Charleston.

February 7, 2022

Acquisitions Industrial South Carolina Southeast

Equus Sells Warehouse in Dillon, South Carolina for $47.5M

by Julia Sanders February 4, 2022

DILLON, S.C. — Equus Capital Partners has sold 95 Inland Port Logistics Center, a 373,100-square-foot warehouse logistics facility in Dillon, about 62.8 miles from Myrtle Beach. An entity doing business as IPD South LLC purchased the property for $47.5 million. Frank Fallon and Bob Barrineau of CBRE represented Equus in the sale of 95 Inland Port Logistics Center, which was fully leased to Calabasas, Calif.-based retailer Harbor Freight Tools at the time of sale. Developed by Equus Development LP on a 30-acre site, 95 Inland Port Logistics Center is a 410-foot deep, single-side loaded building with a 180-foot deep, all-concrete truck court that includes excess trailer parking away from the loading docks. The warehouse was constructed with precast concrete panels and features 32-foot clear heights, LED interior lighting, 50-foot by 50-foot column spacing, an ESFR sprinkler system and air conditioning. The property is located near Interstate 95 and is 3.5 miles from South Carolina Ports Authority’s Inland Port Dillon.

February 4, 2022

Acquisitions Multifamily South Carolina Southeast

Continental Realty Acquires Multifamily Community in Mount Pleasant, South Carolina for $28.3M

by Julia Sanders January 31, 2022

MOUNT PLEASANT, S.C. — Baltimore-based Continental Realty Corp. has acquired The Six Apartments, a 92-unit multifamily community located in Mount Pleasant, for $28.3 million. Tai Cohen of Cushman & Wakefield represented the undisclosed seller in the transaction. The asset was purchased via Continental Realty Fund V LP, a $210.8 million private equity fund focused on acquiring retail and multifamily properties in the Mid-Atlantic and Southeast regions. Developed by an affiliate of Origin Development Partners LLC, the Six offers studio, one- and two-bedroom floorplans ranging from 574 to 1,154 square feet of space. Built in 2018, unit features include granite kitchen and bathroom countertops, custom cabinetry, hardwood flooring, tile backsplashes, pendant lighting, walk-in closets, ceiling fans throughout, in-unit washers and dryers, stainless steel appliances, garden tubs and balconies. Community amenities include an outdoor pool, clubhouse with conference center, health and fitness center, pet park, bike and kayak storage area, private garages and a recreational area with an outdoor kitchen, movie screen wall and firepit. The three-story community was 97 percent occupied at the time of sale. Located at 2170 Snyder Circle, the property is situated near top employers including Joint Base Charleston, Medical University of South Carolina, The Boeing Co. and …

January 31, 2022

Company News North Carolina Retail South Carolina Southeast

Petco to Launch New In-Store Concept at Select Lowe’s Stores in Sun Belt

by Julia Sanders January 31, 2022

MORRESVILLE, N.C. AND SAN DIEGO — Mooresville-based Lowe’s and San Diego-based Petco Health and Wellness Co. Inc. have plans to open a new in-store concept that will offer both home and pet products within select Lowe’s locations. The first Lowe’s + Petco store-in-store concept is slated to open at the Lowe’s Alamo Ranch store in San Antonio at the beginning of February. The companies plan to also expand to 14 additional Lowe’s locations in Texas, North Carolina and South Carolina by the end of March. The purpose of the new Lowe’s + Petco locations is to provide a unique customer experience where customers can support their pet’s health and wellness through an assortment of Petco’s pet food, supplies and services and improve the home they share in one shopping trip. The new store locations are also expected to offer a selection of Petco’s pet services, including Vetco vaccination clinics, microchipping, prescription pest prevention and mobile grooming at select times and locations.

January 31, 2022

Acquisitions Industrial South Carolina Southeast

Alice Manufacturing Sells 343,686 SF Distribution Center in Metro Greenville

by Julia Sanders January 25, 2022

EASLEY, S.C. — Alice Manufacturing Co. Inc., a textile company, has sold Arial Mill, a 343,686-square-foot distribution center in Easley, about 12.6 miles west of Greenville. Farpoint Acquisitions LLC purchased the property for $2.6 million. Nick Hollstegge and Katherine Southard of CBRE represented the seller in the transaction. Located on 19.2 acres at 212 Rice Road, Arial Mill is situated within an Opportunity Zone on the Highway 8 corridor. The property is also within five miles of Pickens County Commerce Park and Pickens County Airport, and within 20 miles of downtown Greenville and Clemson University. Originally built as a textile mill in 1924, Arial Mill most recently served as a distribution center for textile products.

January 25, 2022

Acquisitions Florida Multifamily South Carolina Southeast

West Shore Acquires Three Multifamily Properties in South Carolina, Florida

by Julia Sanders January 24, 2022

BOSTON — West Shore has acquired Sweetwater Apartments in Charleston, Vantage at Wildewood in Columbia, S.C., and Uptown Village in Gainesville, Fla. The acquisition brings the Boston-based investor’s total units to over 12,000. The sales price and sellers were not disclosed. Sweetwater Apartments is a 320-unit waterfront luxury community that offers studio, one-, two- and three-bedroom floorplans. Community amenities include community gardens, a fitness center, outdoor kitchen, yoga studio, six deep water docks, private boat ramp and a kayak ramp. Located at 12000 Sweet Place, the property is 17.7 miles from the College of Charleston and 10.7 miles from Charleston International Airport. Vantage at Wildewood, a 264-unit apartment complex with newly renovated units, offers one-, two- and three-bedroom floorplans. Unit features include in-unit washers and dryers, fireplaces and open layouts. Community amenities include a pool and an outside fireside sitting area. The property also has access to local trails and nearby parks. Located at 811 Mallet Hill Road, the property is 12.3 miles from the University of South Carolina. Uptown Village, formerly known as Evergreen at Uptown Village, is a 322-unit luxury apartment community that offers one-, two- and three-bedroom floorplans. Community amenities include a resort-style pool, shaded cabana, nature …

January 24, 2022

Acquisitions Multifamily South Carolina Southeast

Marcus & Millichap Brokers $68.8M Sale of Three-Property Multifamily Portfolio in North Charleston

by Julia Sanders January 14, 2022

NORTH CHARLESTON, S.C. — Marcus & Millichap has brokered the sale of a three-property, 430-unit multifamily portfolio in North Charleston. The sales price for the portfolio was $68.8 million, or $160,105 per unit. Ian Turnbull, Jim Davis, Nate McDaniel and William Graves Jr. of Marcus & Millichap represented the undisclosed seller, the developer of the properties, and procured the undisclosed buyer, a private investor. The properties include Summerfield Apartments, Willow Ridge Apartments and Dove Creek Townhomes. Built in 2009, Summerfield includes 152 units and was sold for $24.7 million. Willow Ridge is a 145-unit property built in 2002 and was sold for $22.5 million. Built in 2010, Dove Creek features 133 units and was sold for $21.6 million.

January 14, 2022

Development Industrial South Carolina Southeast

Rockefeller Group to Develop 827,000 SF Industrial Park in Metro Greenville

by Julia Sanders January 14, 2022

DUNCAN, S.C. — Rockefeller Group has plans to develop Duncan Logistics Center, three industrial warehouses totaling 827,000 square feet in Duncan, about 19.4 miles north of Greenville. The firm purchased 98 acres for the industrial park, which is the company’s first project in the Greenville-Spartanburg metro area. The seller and sales price for the land were not disclosed. Duncan Logistics Center will feature Building One, a 431,000-square-foot cross-dock building, and Building Two, a 142,000-square-foot rear-load building. Construction on the first two buildings will be completed in the fourth quarter. Additionally, a build-to-suit pad will be available to accommodate a 254,000-square-foot rear-load building. Duncan Logistics Center is located off Highway 290 between Greenville and Spartanburg along Interstate 85. Building One will feature 36-foot clear heights, 54- by 50-foot column spacing and up to 233 parking spaces and 144 trailer spaces. Building Two will feature 32-foot clear heights, 52- by 50-foot column spacing and up to 140 parking spaces and 44 trailer spaces. Campbell Lewis and Nick Hollstegge of CBRE are the exclusive leasing agents for Duncan Logistics Center. Harper General Contractors, in conjunction with MCA Architects, is providing design-build services. SeamonWhiteside is the project’s civil engineer.

January 14, 2022

Development Retail South Carolina Southeast

Morgan Cos. to Develop 200,000 SF Shopping Center in Beaufort, South Carolina

by Julia Sanders January 13, 2022

BEAUFORT, S.C. — The Morgan Cos. has plans to develop Beaufort Station, a 200,000-square-foot shopping center in Beaufort. The firm acquired 31 acres for the project. The sales price and seller for the land were not disclosed. Construction is expected to start this quarter, with the project slated for completion by the fall of 2023. Beaufort Station will be located at the southwest corner of Robert Smalls Parkway and Parris Island Gateway. The shopping center development already had four anchor tenants sign leases: Hobby Lobby, Ross Dress for Less, Ulta Beauty and Old Navy. Zach Means of Divaris Real Estate Inc. represented The Morgan Cos. in the land transaction, and Mark Hall of Judge Realty represented the sellers.

January 13, 2022

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