South Carolina

University Partners Acquires 494-Bed Student Housing Community Near Clemson University

by Alex Tostado January 20, 2021

CLEMSON, S.C. — University Partners has acquired Grandmarc, a 494-bed student housing community located near Clemson University in South Carolina. The property was built in 2017 and offers two- and four-bedroom units with bed-to-bath parity, as well as 9,000 square feet of retail space. Communal amenities include a pool and hot tub, 24-hour fitness center, clubhouse, private study rooms and a sand volleyball court. University Partners will oversee management of the community. Ryan Lang, Jack Brett and Ben Harkrider of Newmark brokered the transaction. The seller and terms of the transaction were not disclosed.

January 20, 2021

Industrial Loans South Carolina Southeast

Ready Capital Closes $9.7M in Acquisition, Renovation Financing for Industrial Property in Greenville

by Alex Tostado January 15, 2021

GREENVILLE, S.C. — Ready Capital has closed $9.7 million in acquisition and renovation financing for a 320,000-square-foot industrial property in Greenville. The 36-month, non-recourse loan features a floating interest rate and interest-only payments. The Class B asset is situated along Interstate 385. Upon acquisition, the undisclosed sponsor will implement a capital improvement plan to upgrade and subsequently lease-up the property. Improvements include roof and HVAC repairs, improved lighting, sprinkler system upgrades and fresh paint.

January 15, 2021

Acquisitions Industrial South Carolina Southeast

Keith Corp., Singerman Real Estate Sell Industrial Facility in Metro Charleston for $55M

by Alex Tostado January 14, 2021

SUMMERVILLE, S.C. — The Keith Corp. and Singerman Real Estate have sold a 448,765-square-foot industrial facility in Summerville for $55 million. The manufacturing and distribution facility is located at 479 Trade Center Parkway within Charleston Trade Center, an industrial park situated along Interstate 26 about 27 miles northwest of the Port of Charleston. The rear-load building features 32-foot clear heights, ESFR sprinklers, LED lighting with motion sensors, surface parking and office space. The Keith Corp. is a Charlotte-based real estate developer, and Singerman is a privately based real estate investment firm based in Chicago. Automotive parts supplier IFA Rotorion — North America, a subsidiary of Germany-based IFA Group, fully leases the facility. The asset was originally delivered in 2018 and in July 2020, The Keith Corp. and Singerman Real Estate expanded the facility by 211,000 square feet. Pete Pittroff and Patrick Nally of JLL represented the sellers in the transaction. Solid Rock Group represented the buyer, an undisclosed family office.

January 14, 2021

Development Office South Carolina Southeast

Balfour Beatty Breaks Ground on $42M Office Building in Downtown Charleston

by Alex Tostado January 14, 2021

CHARLESTON, S.C. — Balfour Beatty US has broken ground on Morrison Yard, a $42 million office building in downtown Charleston. The Keith Corp. and Origin Development Partners are the co-developers of Morrison Yard. The companies are located in Charlotte and Charleston, respectively. Morrison Yard will stand 12 stories high and will offer 140,000 square feet of office space, 8,000 square feet of ground-floor retail space and a four-story parking deck with approximately 377 parking spaces. The general contractor expects to deliver the asset in summer 2022.

January 14, 2021

Industrial Leasing Activity South Carolina Southeast

The Home Depot Signs 68,040 SF Industrial Lease in Columbia

by Alex Tostado January 13, 2021

COLUMBIA, S.C. — The Home Depot has signed a 68,040-square-foot industrial lease within Midway Logistics VI in Columbia. Magnus Development is developing the 192,780-square-foot facility, which is situated within Lexington County Industrial Park, less than two miles from the Interstate 26/77 interchange and six miles southeast of the Columbia Metropolitan Airport. Midway Logistics VI features 32-foot clear heights, ESFR sprinklers, motion-sensor LED lighting and trailer parking. The Home Depot plans to utilize the space as a last-mile distribution center. A timeline for the Atlanta-based retailer’s move-in was not disclosed. Chuck Salley, Dave Mathews, Thomas Beard and John Peebles of Colliers represented the landlord in the lease negotiations.

January 13, 2021

Acquisitions Multifamily North Carolina South Carolina Southeast

Capstone Negotiates Sales of Two Apartment Communities in the Carolinas Totaling $44.5M

by John Nelson December 21, 2020

BOILING SPRINGS, S.C. AND GASTONIA, N.C. — Capstone has negotiated the sales of Village at Mills Gap in Boiling Springs and Destination at Union in Gastonia. Alex McDermott, Austin Green and Caleb Troop of Capstone represented the seller, Read Property Group, in both transactions. In the first transaction, Read sold Village at Mills Gap, a 208-unit apartment community in Upstate South Carolina, to Southwood Realty for $25 million. The property offers one-, two- and three-bedroom floor plans that were 90 percent occupied at the time of sale. Communal amenities include a pool, fitness center, game room, dog park, grilling area, playground and a car care center. The asset is situated at 97 Mills Gap Road, six miles northwest of downtown Spartanburg. The buyer acquired the community as part of a 1031 tax exchange. In the second deal, URS Capital Partners purchased Destination at Union from Read for $19.5 million. Built in 1998, the property offers one-, two- and three-bedroom floor plans that were 93 percent occupied at the time of sale. The buyer plans to upgrade the communal amenities, which include a pool, fitness center and a dog park. The asset is situated at 1272 Union Road, 21 miles west …

December 21, 2020

Development Industrial South Carolina Southeast

Textile Manufacturer to Invest $100M in Upstate South Carolina to Expand Production Facility

by Alex Tostado December 18, 2020

SIMPSONVILLE, S.C. — Fitesa plans to invest $100 million in and create 40 jobs over the next five years to expand its footprint in Simpsonville. Fitesa was founded in 1973 and designs and manufactures nonwoven fabrics for the hygiene and healthcare industries. The facility is situated at 840 SE Main St., less than one mile from Interstate 385 and 14 miles southeast of downtown Greenville. The expansion will include a new production line that will manufacture materials for the healthcare industry. The expansion is expected to be completed in 2023. The company is headquartered in Brazil and has executive offices in Simpsonville.

December 18, 2020

Industrial Leasing Activity South Carolina Southeast

Colliers Negotiates 134,000 SF Industrial Lease in Upstate South Carolina for Automotive Supplier

by Alex Tostado December 17, 2020

DUNCAN, S.C. — Colliers International has negotiated a 134,000-square-foot industrial lease for MingHua USA Inc., a manufacturer of plastic automotive parts and molds, within Woods Chapel Crossing industrial park in Duncan. MingHua is a subsidiary of China-based Jiangnan Mold Plastic Technology Corp. (JMPT). MingHua originally entered the market in 2016 when it signed a 160,000-square-foot lease for an injection molding facility in Greer, less than a half-mile from Woods Chapel Crossing. JMPT’s customers include BMW, Mercedes-Benz, Volkswagen and General Motors. MingHua’s facility is situated at 1121 Woods Chapel Road, two miles from Interstate 85 and equidistant between Spartanburg and Greenville. The landlord, Atlanta-based Robinson Weeks, is developing Woods Chapel Crossing on a speculative basis. This is the first lease signed within the park. Dillon Swayngim of Colliers represented the tenant in the lease negotiations. Kacie Jackson, Brian Young and Elliot Fayssoux of Cushman & Wakefield | Thalhimer represented the landlord.

December 17, 2020

Acquisitions Industrial South Carolina Southeast

JLL Arranges $14.7M Sale of New Manufacturing Facility in Metro Charlotte

by Alex Tostado December 10, 2020

ROCK HILL, S.C. — JLL has arranged the $14.7 million sale of a 129,600-square-foot light manufacturing facility in Rock Hill. The seller, Scannell Properties, delivered the asset earlier this year on a build-to-suit basis for tenant DIRTT Environmental Solutions. DIRTT creates and develops customizable and sustainable architectural interiors. The property spans 22 acres within Legacy Park East. The facility is situated at 2225 Williams Industrial Blvd., less than one mile from Interstate 77 and 27 miles south of Charlotte Douglas International Airport. Patrick Nally and Pete Pittroff of JLL represented the seller in the transaction. STAG Industrial Inc. acquired the facility.

December 10, 2020

Development Industrial South Carolina Southeast

Magnus Development to Break Ground on 1 MSF Spec Industrial Park Near Columbia Metropolitan Airport

by Alex Tostado December 1, 2020

COLUMBIA, S.C. — Magnus Development Partners will break ground on 803 Industrial Park, a planned spec development that will feature nearly 1 million square feet of industrial space adjacent to Columbia Metropolitan Airport. Magnus plans to break ground on Building One, a 201,120-square-foot asset, in early 2021. Building One will feature a 130-foot-deep truck court, up to 57 dock-high doors, 72 trailer drop spaces, 50-foot-by-54-foot bays, 32-foot clear heights, ESFR fire protection and LED lighting. The building will be subdividable for users needing as little as 34,020 square feet of space. The industrial park, being developed by Columbia Metropolitan Airport’s development arm, is also situated near the UPS regional air and ground hubs, a FedEx Freight and Norfolk Southern transload rail terminal, and one mile from Interstate 26. Chuck Salley, Dave Mathews, Thomas Beard and John Peebles of Colliers International | South Carolina will handle leasing efforts on behalf of the owner. A timeline for completion was not disclosed.

December 1, 2020

Newer Posts

Older Posts