CHEROKEE COUNTY, S.C. — A joint venture between GTIS Partners and Collett Industrial has acquired a 107-acre site located on Tribal Road in Cherokee County, midway between Charlotte and Greenville, S.C. Plans for the site include the development of 850,000 to 930,000 square feet of industrial warehouse space across two phases. Phase I will comprise a 200,000- to 225,000-square-foot rear-load building, and Phase II will include either a single 510,000-square-foot cross-dock building or two rear-load buildings totaling roughly 423,000 square feet. GTIS and Collett also plan to widen and implement improvements to a portion of Tribal Road. Construction is scheduled to begin in February 2024.
HARDEEVILLE, S.C. — HIC Land has acquired 2,600 acres in Hardeeville, a city within the Hilton Head Island-Bluffton metropolitan area, for $36 million. The land had been in the Morgan family for over 100 years before it sold to the the Charleston-based company. HIC Land, along with homebuilding partner D.R. Horton, plans to develop a master-planned community on the tract that will include homes, commercial spaces, amenities, parks, nature trails and sidewalks. The projected 20-year development is expected to break ground in 2024. As part of the transaction, HIC Land and D.R. Horton will improve the area’s infrastructure, including roads and utilities.
MOUNT PLEASANT, S.C. — Ziff Real Estate Partners (ZRP) has acquired Wando Crossing, a retail center located in the Charleston suburb of Mount Pleasant, for $46.8 million. Marshalls/HomeGoods, T.J. Maxx, Total Wine & More, Petco, Ashley HomeStore, Michaels and Five Below anchor the property, which totals 214,029 square feet. Ohio-based SITE Centers Corp. was the seller. Brad Peterson, Scott Israel, Whitaker Leonhardt, Joe Montgomery and Patrick Nealon of Colliers represented the seller in the transaction. Donald Jennewein of Colliers arranged an undisclosed amount of acquisition financing for ZRP.
ROCK HILL, S.C. — SRS Real Estate Partners has brokered the $6.3 million sale of a freestanding, 14,550-square-foot store in Rock Hill, a southern suburb of Charlotte. Built in 2013 on two acres, the single-tenant property was fully leased at the time of sale to Walgreens. Susan Harris of SRS represented the seller, an investor based in Washington, in the 1031 transaction. Andrew Margulies of Marcus & Millichap represented the buyer, a private investor based in North Carolina. Walgreens has 15 years remaining on its corporate-guaranteed lease, according to SRS.
GREENVILLE, S.C. — Colliers has arranged a 37,654-square-foot office lease renewal at 55 Beattie Place in downtown Greenville. The tenant, regional law firm Gallivan White & Boyd, is renewing its space within One Liberty Square. Bailey Tollison, Brantley Anderson and Taylor Allen of Colliers represented the tenant in the lease transaction. The landlord was not disclosed. In addition to the One Liberty Square renewal, the Colliers team recently represented Gallivan White & Boyd in other office leases in Columbia, S.C., and Charlotte.
CONWAY, S.C. — JLL has provided an $18.5 million Freddie Mac acquisition loan for Bellamy Coastal, a 480-bed student housing community situated near Coastal Carolina University. Built in 2018, the property is located at 300 Bellamy Ave. in Conway, a half-mile east of the university and 10 miles from Myrtle Beach. Amenities include a resort-style pool, sundeck, beach volleyball court, 24-hour fitness center, computer lab, study area, hammock garden and in-apartment security systems. Dan Kearns, Patricia Heminger, Sam Tarter and Katia Novi of JLL originated the five-year, fixed-rate loan on behalf of the borrower, Eastman Residential. The loan will be serviced by JLL Real Estate Capital LLC, a member of Freddie Mac Multifamily’s Optigo network of seller-servicer partners.
SPARTANBURG, S.C. — Two entities of SVN | Blackstream — Reedy River Retail and Second Story Real Estate Management — have been retained to offer for sale the leasehold interest of WestGate Mall, an enclosed regional shopping mall in Spartanburg. The mall’s anchor tenants include Belk, Dillards, JC Penney and Costco, which is located on a separate parcel and not included in the sale. The sale includes 431,306 square feet of gross leasable area as part of a ground lease that has extension options through 2084. WestGate Mall, which is the only enclosed mall in Spartanburg County, is located on a 52-acre site along I-26. The asset is currently 82 percent occupied. The mall’s former owner, Chattanooga-based CBL Properties, filed for bankruptcy in 2020 and the mall is now in receivership, according to local media outlets.
Eric Newton Real Estate Breaks Ground on 517-Bed Student Housing Development Near Clemson University
CLEMSON, S.C. — Eric Newton Real Estate has broken ground on Maverick Hills, a 517-bed student housing development located near the Clemson University campus in South Carolina. The property will offer cottage and townhome units in a mix of two-, three- and four-bedroom configurations with bed-to-bath parity. Shared amenities are set to include a resort-style swimming pool with lounge seating; clubhouse; full-service coffee bar; study rooms; 24-hour fitness center; courtyard for outdoor games; dog park; pickleball and basketball courts; and “The Rock” community center. The project is scheduled for completion in fall 2025.
ROCK HILL, S.C. — Selwyn Property Group and CIP Real Estate have broken ground on Waterford Business Park, a 240,000-square-foot speculative industrial development in Rock Hill, approximately 30 miles southwest of Charlotte in South Carolina. Upon completion, which is scheduled for the fourth quarter of 2024, the property will comprise two 120,000-square-foot facilities situated on 25 acres at 656 Red River Road. Designed for single-tenant use, the buildings will also have the ability to be subdivided for multi-tenant use. Patrick Gildea, Rob Hardway, Matt Smith, Grayson Hawkins, Trey Barry and Frank Fallon of CBRE secured an $11.1 million limited partnership equity placement for the development of the property.
GREER, S.C. — Red Rock Developments has signed a 304,884-square-foot lease at the developer’s speculative warehouse in Greer, about 12 miles from Greenville, S.C. Delivered in August, the property is situated within the second phase of Smith Farms Industrial Park, an industrial park that Red Rock owns with capital partner LXP Industrial Trust. Dunlop Sports Americas will fully occupy the building, which features 36-foot clear heights, shipping/receiving offices and dock packages with 40,000-pound hydraulic levelers, seals, dock fans and lights. Marcus Cornelius, Trey Pennington and Jeff Benedict of CBRE represented Red Rock in the lease negotiations. Jeff Head and Tommy Turner of Newmark represented the tenant.