South Carolina

Getty Realty Acquires Convenience Store Portfolio in South Carolina for $68.3M

by Camren Skelton October 5, 2017

JERICHO, N.Y. — Getty Realty Corp. has acquired interests in 38 fee simple convenience store properties in metro Columbia, S.C., for $68.3 million. In July, the company entered into a sale-leaseback transaction with a U.S. subsidiary of Ireland-based Applegreen PLC. Under the revised terms of the transaction, Getty Realty acquired interests in the properties and simultaneously leased them under a unitary lease to Applegreen. The portfolio includes 33 convenience store and gasoline stations, many of which contain food offerings such as Burger King, Subway and Blimpie, and five standalone Burger King restaurants. The 15-year lease features four five-year renewal options, with rent scheduled to increase annually during the initial and renewal terms.

October 5, 2017

Office South Carolina Southeast

CBRE Arranges Sale of 460,020 SF Office Tower in Columbia, South Carolina

by Camren Skelton October 5, 2017

COLUMBIA, S.C. — CBRE has arranged the sale of Capitol Center, a 460,020-square-foot office building in Columbia. The 25-story tower is the tallest building in South Carolina, and was 87 percent leased at the time of sale to tenants including Haynsworth Sinkler Boyd, BB&T, Alliance Consulting Engineers, Gallivan White & Boyd and the South Carolina Department of Commerce. In addition, Capitol Center is home to Capital City Club, the building’s private dining club. Justin Parsonnet, Will Yowell, Ryan Reethof, Patrick Gildea, Martin Moore and Aaron Dupree of CBRE represented the seller, a joint venture between M&J Wilkow and Intercontinental Real Estate Corp., in the transaction. Hamilton Equity Partners, which acquired the building for an undisclosed price, will update the building’s main lobbies, conference facilities, elevators and common areas. Hamilton Equity has retained CBRE as the exclusive leasing agent for Capitol Center.

October 5, 2017

Industrial South Carolina Southeast

Health Tech Firm Breaks Ground on 272,000 SF Manufacturing Center Near Charleston

by Camren Skelton October 2, 2017

SUMMERVILLE, S.C. — Thorne Research Inc. has broken ground on a new 272,000-square-foot manufacturing facility in Summerville, located 25 miles northwest of Charleston. The health and wellness technology company manufactures proprietary nutritional supplement products distributed through professional medical, athletic and consumer channels. The new facility will bring 330 jobs to the Summerville area and serve as Thorne Research’s corporate headquarters. Located on 26 acres within the Omni Industrial Campus, the facility is expected to be fully operational by mid-2018.

October 2, 2017

Multifamily South Carolina Southeast

TWO Capital Breaks Ground on 312-Unit Multifamily Asset in Metro Charlotte

by Camren Skelton September 29, 2017

INDIAN LAND, S.C. — TWO Capital Partners has broken ground on Capital Club at Indian Land, a 312-unit apartment community in Indian Land, approximately 20 miles south of Charlotte. TWO Capital’s financial partner, Patterson Real Estate Advisory Group, arranged a preferred equity investment from RSE Capital Partners, as well as a construction loan from Texas Capital Bank NA and HomeTrust Bank. Capital Club at Indian Land is located at the intersection of Highway 521 and Fort Mill Highway. Community amenities will include an outdoor amphitheater, saltwater pools with cabanas, outdoor kitchens, virtual golf room, dog park, fitness center and shared workspaces. The project, which marks TWO’s second multifamily development in the Charlotte area, is slated for completion at the end of 2018.

September 29, 2017

Mixed-Use Retail South Carolina Southeast

Stiles Signs Publix to Anchor New Mixed-Use Project in Charleston

by Camren Skelton September 27, 2017

CHARLESTON, S.C. — Fort Lauderdale, Fla.-based Stiles has signed Publix to anchor Point Hope Commons, a 90,000-square-foot shopping center located within Cainhoy Plantation, a mixed-use community under development in Charleston. Point Hope Commons will be designed with a low country architectural theme and feature spaces for gathering and dining, with direct frontage along Clements Ferry Road. Stiles’ development team based in the company’s Charlotte office is managing the Point Hope Commons portion of the project, and Eric Meyer and Fritz Meyer of Meyer Kapp & Associates are providing property leasing representation. DI Development Co. is managing Cainhoy Plantation, which is being developed by combination of Guggenheim corporate and family interests. Upon completion, Cainhoy Plantation will include up to 9,000 single-family residences, a 264-unit apartment community and over 500 acres of retail, restaurant and office space.

September 27, 2017

Retail South Carolina Southeast

PAC Acquires Harris Teeter-Anchored Center in Metro Charlotte for $14.3M

by Camren Skelton September 26, 2017

FORT MILL, S.C. — Preferred Apartment Communities (PAC) has purchased West Town Market, a 67,883-square-foot shopping center in Fort Mill, a South Carolina suburb of Charlotte, for $14.3 million. PAC acquired the asset through its wholly owned subsidiary New Market Properties LLC. Thomas Kolarczyk, Richard Reid, Ted Hill and Mike Allison of HFF represented the seller, Retail Properties of America Inc. Ed Coco and Matt Casey of HFF secured an eight-year, $9 million loan with a 3.65 percent interest rate through Nationwide Life Insurance Co. on behalf of New Market Properties. A 48,220-square-foot Harris Teeter grocery store anchors West Town Market, which is located in the Highway 160 corridor. The retail center is also home to Pizza Hut, Great Clips and The UPS Store. The acquisition of West Town Market increases New Market’s retail portfolio to 37 grocery-anchored shopping centers across seven states.

September 26, 2017

Alabama Multifamily South Carolina Southeast Student Housing

Mallory & Evans Breaks Ground on Two Student Housing Communities in Alabama, South Carolina

by Camren Skelton September 19, 2017

FLORENCE ALA. AND CONWAY, S.C. — Mallory & Evans Development has broken ground on two student housing communities in Alabama and South Carolina. The projects include Bellamy Florence, a $24 million, 420-bed community located near the University of North Alabama in Florence, and Bellamy Coastal, a $32 million, 480-bed community located adjacent to Coastal Carolina University in Conway. Both developments will offer fully furnished units with bed-to-bath parity. Shared amenities will include a pool, sundeck, 24-hour fitness center, study areas, covered outdoor patios with TVs, tanning beds, a clubhouse, fire pits and grills. Caliber Living, a subsidiary of Mallory & Evans, will lease and manage both communities, which are slated for completion next fall.

September 19, 2017

Loans Multifamily South Carolina Southeast

NXT Provides $33M Acquisition Loan for Apartment Community in Metro Charlotte

by Camren Skelton September 19, 2017

ROCK HILL, S.C. — NXT Capital has provided a $33 million first mortgage loan for the acquisition of Gateway at Rock Hill Apartments, a 312-unit multifamily community located in downtown Rock Hill, located five miles from Winthrop University and roughly 20 miles south of Charlotte in South Carolina. Michael Ortlip and Joshua Davis of Grandbridge Real Estate Capital arranged the transaction. The borrower was not disclosed. Gateway at Rock Hill’s community amenities include a business center, fitness center, movie theater, grill and a picnic area.

September 19, 2017

Office South Carolina Southeast

CBRE Arranges $28.1M Sale of Office Tower in Columbia, South Carolina

by Camren Skelton September 13, 2017

COLUMBIA, S.C. — CBRE has brokered the $28.1 million sale of Tower at 1301 Gervais, a 298,926-square-foot office building in Columbia. Greenville, S.C.-based RealOp Investments acquired the property from Florida-based Morning Calm Management. Patrick Gildea, Aaron Dupree, Martin Moore and Matt Smith of CBRE represented the seller in the transaction. The 20-story Tower at 1301 Gervais recently underwent a $2 million renovation, including upgrades to the fitness center, common areas, restrooms and tenant spaces offering open floor plans. At the time of sale, the building was 80 percent leased to tenants including the University of South Carolina, South Carolina Chamber of Commerce, Cumulus Media, TM Floyd & Co., IT-oLogy and Merrill Lynch.

September 13, 2017

Multifamily South Carolina Southeast Student Housing

JV Opens 706-Bed Student Housing Community Near Clemson University

by Camren Skelton September 13, 2017

CLEMSON, S.C. — A partnership between Campus Apartments and Collegiate Development Group has opened 114 Earle, a 706-bed student housing development located near the Clemson University campus in South Carolina. The property offers fully furnished studio, two-, three-, four- and five-bedroom units. Community amenities include a two-story clubhouse with an internal playground-style stairway slide; fitness center; resort-style swimming pool with a jumbo TV; and a variety of study spaces.

September 13, 2017

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