Thursday, April 3, 2025
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South Carolina

AcquisitionsRetailSouth CarolinaSoutheast

NAI Merin Hunter Codman Sells Shopping Center Near Myrtle Beach for $6.4M

by John Nelson

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.

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DevelopmentIndustrialSouth CarolinaSoutheast

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.

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AcquisitionsRetailSouth CarolinaSoutheast

IPA Brokers $18.8M Sale of Shopping Center in Bluffton, South Carolina

by John Nelson

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.

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Sovereign-Apartments_Fort-Worth-Texas
FloridaGeorgiaLoansMultifamilySouth CarolinaSoutheastTennesseeTexasTop Stories

Newmark Arranges $533M Refinancing for Sun Belt Multifamily Portfolio 

by Hayden Spiess

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

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FloridaGeorgiaLoansLouisianaNorth CarolinaRetailSouth CarolinaSoutheast

BWE Arranges Financing for 104-Property Circle K Retail Portfolio in the Sun Belt

by John Nelson

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.

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IndustrialLoansSouth CarolinaSoutheast

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.

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DevelopmentHospitalityMixed-UseSouth CarolinaSoutheast

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.

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AcquisitionsHospitalitySouth CarolinaSoutheast

Marcus & Millichap Brokers Sale of 77-Room Hotel in Charleston

by John Nelson

CHARLESTON, S.C. — Marcus & Millichap has brokered the sale of Clarion Pointe Charleston-West Ashley, a 77-room hotel located at 2455 Savannah Highway in Charleston. The out-of-state buyer purchased the Choice Hotels-branded hotel for an undisclosed price. The seller was also not disclosed. Jack Davis, Chase Dewese, Joce Messinger and Joseph Simpson of Marcus & Millichap represented the seller in the transaction. Robert Hunter and McLean Hicklin, also with Marcus & Millichap, procured the buyer. Built in 2005, the four-story hotel features an indoor swimming pool, fitness center and a breakfast bar.

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DevelopmentLeasing ActivityMixed-UseRestaurantRetailSouth CarolinaSoutheast

RocaPoint Signs Four Restaurants to Join $1B Greenville County Square Mixed-Use Development

by John Nelson

GREENVILLE, S.C. — RocaPoint Partners has added four new food-and-beverage tenants to join the roster at Greenville County Square, a $1 billion mixed-use redevelopment in downtown Greenville. Mama’s Comfort Food & Cocktails, Leo’s Italian Social, CRÚ Food & Wine Bar and MOA Korean Barbeque have signed on to join the 40-acre project, which will be anchored by a Whole Foods Market grocery store. The new concepts bring the number of committed eateries at Greenville County Square to 15, including The Perch Kitchen & Tap, The Salty Donut, ​​Ben & Jerry’s and JINYA Ramen. Other tenants will include Pins Mechanical, Fairway Social, Sports & Social and Agave Bandido as the entertainment anchors and national retailers William Sonoma and Pottery Barn. The development also houses Greenville County’s newly opened 250,000-square-foot administrative building.

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Build-to-RentDevelopmentMultifamilySingle-Family RentalSouth CarolinaSoutheast

East West, Holder Break Ground on 50-Unit Build-to-Rent Community on Daniel Island in Charleston

by John Nelson

CHARLESTON, S.C. — East West Partners and Holder Properties have broken ground on Fenland, a 50-unit build-to-rent community located on Daniel Island in Charleston. The townhome property will be situated on 5.5 acres within Nowell Creek Village, a 36-acre waterfront community. Upon completion, Fenland will feature three- and four-bedroom, three-story rental townhomes ranging in size from 2,100 to 2,400 square feet. Amenities will include two-car attached garages, a private swimming pool, community grill and fire pit and a landscaped courtyard along with access to Daniel Island’s network of trails, a community dock and park and planned waterside dining and retail options. East West Hospitality will manage Fenland, which will begin preleasing in early 2025 with move-ins expected by spring 2025.

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