South Carolina

CBRE Brokers Sale of 201,500 SF Industrial Park Near Charleston

by Camren Skelton February 13, 2018

MONCKS CORNER, S.C. — CBRE has brokered the sale of Foxbank Industrial Park, a 201,500-square-foot manufacturing and distribution facility located at 2550 U.S. Highway 52 in Moncks Corner, roughly 30 miles north of Charleston. Patrick Gildea, Bob Barrineau, Brandon Redeyoff and Matt Smith of CBRE arranged the transaction on behalf of the seller, JL Woode. CCP Commercial Real Estate acquired the park for an undisclosed price. Foxbank Industrial Park is situated on more than 30 acres and features 25- to 35-foot clear heights, 10,280 square feet of office space, existing bridge cranes, 18 oversized ground-level doors and an outdoor storage area. Sea Fox Boats, a manufacturer of saltwater boats, anchors the property.

February 13, 2018

Multifamily South Carolina Southeast

Berkadia Brokers $21.8M Sale of Multifamily Community in North Charleston

by Camren Skelton February 12, 2018

NORTH CHARLESTON, S.C. — Berkadia has brokered the $21.8 million sale of Ashley Village Townhomes, a 260-unit multifamily community located at 3311 Mountainbrook Ave. in North Charleston. Mark Boyce and Blake Coffey of Berkadia arranged the transaction on behalf of the seller, PEM Real Estate Group. Lurin Capital acquired the asset. Constructed in 1970, Ashley Village Townhomes includes one- to three-bedroom floor plans and features a renovated clubhouse, business center, fitness center, pool, playground and a laundry room.

February 12, 2018

Office South Carolina Southeast

Trinity Capital, Durlach Associates Sell Office Building in Charleston for $36.4M

by Camren Skelton February 9, 2018

CHARLESTON, S.C. — Trinity Capital Advisors and Durlach Associates have sold Faber Plaza, a 125,822-square-foot office building located at 4400 Leeds Ave. in Charleston. Hall Capital purchased the asset for $36.4 million. Durlach Associates, which developed the building in a joint venture with Trinity in 2015, will remain an investor in the property under the new ownership. Patrick Gildea, Matt Smith and Charlie Carmody of CBRE arranged the transaction. Faber Plaza is home to tenants including BlueCross BlueShield of South Carolina, Paychex, Cummins, HDR, Sonepar, TranSystems and TY Lin International. The building features 12-foot ceilings, floor-to-ceiling windows and park views.

February 9, 2018

Multifamily South Carolina Southeast Student Housing

SmartStop Acquires Student Housing Asset Near University of South Carolina for $64.5M

by Camren Skelton February 8, 2018

COLUMBIA, S.C. — SmartStop Asset Management LLC has acquired Aspyre at Assembly Station, a 760-bed student housing community located near the University of South Carolina in Columbia, for $64.5 million. The property offers one-, two- and three-bedroom units. Community amenities include a 24-hour fitness center, business center, computer lab, resort and lap pools, a sauna and various outdoor recreational areas. The seller in the transaction was not disclosed.

February 8, 2018

Kentucky Loans Multifamily North Carolina South Carolina Southeast

CBRE Secures $56.9M in Acquisition Financing for Apartment Portfolio in Carolinas, Kentucky

by Camren Skelton February 7, 2018

SAN DIEGO — CBRE has arranged $56.9 million in acquisition financing for three apartment communities located in South Carolina, North Carolina and Kentucky. Bill Chiles, Scott Peterson and Brian Cruz of CBRE’s San Diego office secured the floating-rate loans through Freddie Mac on behalf of the buyer, San Diego-based Strata Equity Group. The properties included in the transaction are the 183-unit Veridian Spartanburg in Spartanburg, S.C.; the 180-unit Icon on the Greenway in Gastonia, N.C.; and The Racquet Club, a 474-unit community in Lexington, Ky. All three properties were renovated in the last two years and feature granite countertops, stainless steel appliances, fireplaces, plank or hardwood-style flooring, walk-in closets and vaulted ceilings. Community amenities include resort-style swimming pools, fitness centers, pet parks and playgrounds. The Racquet Club features a massage therapist on-site, restaurant, cyber café and a private lake and gazebo.

February 7, 2018

Industrial South Carolina Southeast

SunCap Acquires 236,800 SF Industrial Building in Greenville

by Camren Skelton February 1, 2018

GREENVILLE, S.C. — SunCap Property Group has acquired Forrester Park, a three-building, 236,800-square-foot distribution and light-manufacturing center located at 201 Forrester Drive in Greenville. Other terms of the deal were not disclosed. The building is located one mile from Interstate 85 and adjacent to Millennium Park and the Clemson University International Center for Automotive Research (ICAR). At the time of sale, Forrester Park was fully leased to tenants including Gexpro Services, Safelite Auto Glass, Woodward, Trust Technologies and Aerodyne Alloys. Colliers International’s Greenville office will handle the property’s leasing assignment on behalf of SunCap.

February 1, 2018

Multifamily South Carolina Southeast Student Housing

Valeo, Harrison Street to Deliver 994-Bed Student Housing Community Near Clemson University

by Camren Skelton January 19, 2018

CLEMSON, S.C. — Valeo Groupe US, in conjunction with equity partner Harrison Street Real Estate Capital LLC, has unveiled plans to deliver Epoch Clemson, a 310-unit, 994-bed student housing community serving Clemson University in Clemson. Ed Coco, Matt Casey and Libby Malloy of HFF secured a floating-rate construction loan for the property on behalf of the developers. Other terms of the deal were not disclosed. Epoch Clemson will be situated along the shoreline of Lake Hartwell, just off U.S. Highway 123/Clemson Boulevard. The property will comprise 15 buildings with a variety of cottage, townhome, brownstone and apartment units. Community amenities will include a resort-style pool and clubhouse, volleyball court, 24-hour fitness center, computer center and landscaped courtyards. With more than 3,600 feet of Lake Hartwell frontage, the community will also feature waterfront amenities including a private beach, boat docks, lakeside pedestrian paths and select units with lake views. The community is slated for completion in summer 2019.

January 19, 2018

Office South Carolina Southeast

Colliers Arranges $18.4M Sale of Four-Building Office Portfolio in Upstate South Carolina

by Camren Skelton January 12, 2018

GREENVILLE, S.C. — Colliers International has arranged the $18.4 million sale of Axis Office Park, a four-building office portfolio located at 350-352 Halton Road in Greenville. Formerly occupied by Fluor, the buildings total 228,000 square feet. Colliers arranged the transaction on behalf of the buyer, Tempus Real Estate Investments. Other terms of the deal were not disclosed. Taylor Allen and Brantley Anderson of Colliers will handle the property’s leasing assignment, and Brendan Gower of Colliers will provide real estate management services. In addition, LCK will provide project management services for the property.

January 12, 2018

Mixed-Use Retail South Carolina Southeast

Lifescapes to Design Redevelopment of Two Entertainment Destinations in Myrtle Beach

by Camren Skelton January 11, 2018

MYRTLE BEACH, S.C. — Landscape architectural firm Lifescapes International has been selected to design the landscapes for the redevelopment of two entertainment centers in Myrtle Beach — Barefoot Landing and Broadway at the Beach. Burroughs & Chapin is leading the multi-year redevelopment of the two destinations. At Barefoot Landing, the redevelopment will include 45,000 square feet of new retail space, a new restaurant district known as Dockside Village, the addition of an amphitheater and a new boardwalk on the south end of the property. Lifescapes will design the landscape for the entire redevelopment, and plans to incorporate a water entertainment feature and show, as well as increase patio space along the waterfront. The firm will use blue stone and brick pavers throughout the center to mimic the look of Charleston. In addition, Lifescapes will add a programmable lawn that will host activities including concerts and an ice skating rink during the holiday season. At Broadway at the Beach, Lifescapes will design the landscape for the entire redevelopment, including The Avenue, the property’s entertainment and nightlife section. The Avenue recently underwent a renovation that included façade upgrades, the relocation of Hard Rock Café, opening of Dave & Buster’s and a new architectural style …

January 11, 2018

Loans Multifamily South Carolina Southeast

NorthMarq Secures $15.9M Acquisition Loan for Apartment Community in South Carolina

by Camren Skelton January 9, 2018

SUMTER, S.C. — NorthMarq Capital has arranged a $15.9 million acquisition loan for Piedmont Plantation, a 252-unit apartment community in Sumter, roughly 45 miles east of Columbia. Bill Matone of NorthMarq Capital arranged the 10-year, Freddie Mac loan with a 30-year amortization schedule. Other terms of the deal were not disclosed. Piedmont Plantation offers one- to three-bedroom floor plans and features a clubhouse, playground, swimming pool with sundeck, car care center, 24-hour fitness center, dog park and grilling stations.

January 9, 2018

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