South Carolina

Grandbridge Arranges $51M Refinancing for Office Building in Charleston

by John Nelson April 27, 2017

CHARLESTON, S.C. — Grandbridge Real Estate Capital has arranged the $51 million refinancing for Bank of America Place, a 144,000-square-foot, four-story office building along Meeting Street in Charleston. The office building features ground-floor retail space and an attached 355-space parking garage. Tenants include Bank of America, New York Life, Morgan Stanley, Wells Fargo Advisors, Parker Poe Law Firm and Resurgent Capital Services. Russ Balderson and Kevin French of Grandbridge arranged the loan through AIG Global Real Estate on behalf of Charleston Financial Center LLC, a subsidiary of Oceanside Resorts Inc., which purchased Bank of America Place in 2004.

April 27, 2017

Multifamily South Carolina Southeast

Berry, Big Cypress Capital Open Apartment Property in Charleston

by John Nelson April 21, 2017

CHARLESTON, S.C. — The Berry Cos. and Big Cypress Capital have opened Cainhoy Pointe, a gated 110-unit apartment community off Jack Primus Road on Charleston’s Daniel Island. Apartment units range in size from 817 to 1,057 square feet and feature wood-style plank flooring, designer cabinetry, dual marble vanities, walk-in closets and granite countertops. Community amenities include a resident lounge, game room, cyber café, demonstration kitchen, fitness center, yoga studio, business center, community pool, fire pit, walking paths and a dog park. The property is located next to the original phase of Cainhoy Pointe, a 72-unit property originally developed in 2008 as condominiums. Berry and Big Cypress have converted 27 of the units to rental apartments. Cainhoy Pointe is situated near Cainhoy Plantation, a 9,100-acre master-planned development. The design team for Cainhoy Pointe includes general contractor Liberty Solutions, landscape architect John Tarkany Associates of Charleston, architect BB+M Architecture, property manager RAM Partners and leasing agent Sales Inc.

April 21, 2017

Industrial South Carolina Southeast

CRG, Gramercy Property Trust Break Ground on 432,000 SF Build-to-Suit Warehouse in Greenville

by John Nelson April 20, 2017

GREENVILLE, S.C. — CRG and Gramery Property Trust have broken ground on a 432,000-square-foot build-to-suit warehouse in Greenville for Bausch + Lomb, a manufacturer of eye care products including contact lenses and eye implants. Bausch + Lamb currently operates a manufacturing facility four miles from the new development, which is expandable up to an additional 432,000 square feet. The facility will include 38-foot clear heights, an ESFR sprinkler system, 42 loading docks, one drive-in door, 101 trailer spaces and 94 automobile parking spaces. The design team includes design-build firm Clayco Inc. and architect Forum Studio. Bausch + Lomb is expected to take occupancy beginning in October.

April 20, 2017

Multifamily South Carolina Southeast Student Housing

Stonemont Breaks Ground on Student Housing Community Near Clemson University

by John Nelson April 17, 2017

CLEMSON, S.C. — Stonemont Financial Group has begun construction on Plaza One89, a 45-bed student housing community located near Clemson University in South Carolina. The four-story property, which is also home to 6,000 square feet of retail space leased to Amici Italian Café, will offer two- and four-bedroom, fully furnished units with balconies. Community amenities will include a rooftop patio, on-site parking and controlled access. The project is set to open this August.

April 17, 2017

Industrial South Carolina Southeast

Miller-Valentine Breaks Ground on 200,000 SF Spec Industrial Facility in South Carolina

by John Nelson April 12, 2017

WEST COLUMBIA, S.C. — Miller-Valentine Group has begun construction on Midway Logistics II, a 200,000-square-foot speculative industrial facility located at 825 Bistline Drive in West Columbia. The property will be situated within Lexington County Industrial Park, a 350-acre master-planned industrial development located at the intersection of Interstates 77 and 26. Miller-Valentine Group has awarded Colliers International the leasing assignment for Midway Logistics II, which is the first speculative industrial facility built by a private developer in South Carolina’s Midlands region since 2009.

April 12, 2017

Loans Multifamily South Carolina Southeast

Love Funding Provides $10.8M HUD Loan to Convert Mill in Upstate South Carolina into Loft Apartments

by John Nelson April 7, 2017

GREER, S.C. — Love Funding has provided a $10.8 million loan to convert a former textile mill into Lofts by the Lake at Apache Mill, a proposed 97-unit apartment community in Greer. The development team is led by real estate veteran Dale Goodrich. Tammy Tate of Love Funding arranged the loan through HUD’s 221(d)(4) loan insurance program, which provides low-rate financing during construction and for a subsequent 40-year term. The transaction also makes use of federal and state historic tax credits, as well as state textile mill credits. Since the majority of the tax credits aren’t available until final completion, Tate also helped arrange a bridge loan for the borrower through Love Funding’s parent company, Midland States Bank. The 7.2-acre property was originally developed in the mid-1830s, and the first modern mill was constructed as a brick facility in 1988. The proposed apartment community will feature two-story windows, pine columns, exposed historic brick walls, lake views in 51 of the units and communal resources including lake access and kayak shoots. The project team includes architect Joe W. Hiller Jr. and general contractor Triangle Construction Co. Blue Ridge Property Management will manage Lofts by the Lake at Apache Mill upon completion.

April 7, 2017

Loans South Carolina Southeast Student Housing

NXT Capital Provides $21M Acquisition Loan for Student Housing Property in Charleston

by John Nelson April 4, 2017

CHARLESTON, S.C. — NXT Capital has provided a $21 million acquisition loan for 400 Meeting Street, a 41-unit, 160-bed student housing community situated less than a mile north of the College of Charleston. The Class A community includes a fitness center, covered bicycle storage, car sharing services and controlled access. According to the property website, the borrower is renovating and rebranding 400 Meeting Street as My House on Meeting.

April 4, 2017

Alabama Retail South Carolina Southeast

Cypress Equities Sells Eight Walmart Neighborhood Market Stores in Alabama, South Carolina

by John Nelson March 31, 2017

DALLAS — Cypress Equities has sold eight Walmart Neighborhood Market grocery stores in Alabama and South Carolina to an undisclosed REIT. Dallas-based Cypress Equities has served as a preferred developer in the Walmart Neighborhood Market build-to-suit program that was established in January 2014. In the past three years, Cypress has constructed and opened 20 Walmart Neighborhood Markets, and this sale represents the final disposition of the 20-store portfolio, which also includes stores in Texas. Listing brokers for the portfolio include Glen Kunofsky, Lauren Veres, Mike James and Don McMinn at Marcus & Millichap; Pat Luther, Matt Mousavi, Kyle Stonis and Ryan Hoff of SRS Real Estate’s National Net Lease Group; and Brad Moulder of Stan Johnson Co. The sales price and store locations were not disclosed.

March 31, 2017

Office South Carolina Southeast

Equity Breaks Ground on 100,000 SF Medical Campus in Charleston Area

by Taylor Williams March 20, 2017

SUMMERVILLE, S.C. — Equity Inc., an Ohio-based developer and broker, has begun construction on Palmetto Primary Care Physicians Medical Campus in the community of Nexton, about 30 miles northwest of Charleston. The $32 million project will deliver a 100,000-square-foot Class A medical office with primary and specialty care services, an urgent care center and an imaging lab. Construction is scheduled for completion in late 2018.

March 20, 2017

Mixed-Use South Carolina Southeast

NASH, Newland Acquire 4,000-Acre Nexton Community Near Charleston

by John Nelson March 6, 2017

SUMMERVILLE, S.C. — North America Sekisui House LLC (NASH) and development partner American Newland Communities LLP (Newland) have purchased 4,000 acres in Summerville from WestRock Land and Development for an undisclosed price. The acquired land is situated within the Nexton master-planned development near Charleston. WestRock will continue to develop its commercial land fronting I-26 and US 176, including the PPCP Medical Campus, the Nexton town center retail space and other commercial and retail projects. Nexton has been approved for up to 13,000 residential units, comprising single-family detached, single-family attached and multifamily. Currently, more than 200 homes have been sold or are currently under construction within Nexton. The Nexton acquisition is the first development project in the Charleston area for both NASH and Newland, whose plans for the project were not disclosed.

March 6, 2017

Newer Posts

Older Posts