South Carolina

Preferred Apartment Communities Acquires 99,384 SF Shopping Center Near Columbia

by Camren Skelton July 31, 2017

IRMO, S.C. — Preferred Apartment Communities (PAC) has purchased Irmo Station, a 99,384-square-foot, Kroger-anchored shopping center in Irmo, roughly 12 miles northwest of Columbia. PAC acquired the asset through its wholly owned subsidiary New Market Properties LLC, and financed the acquisition using a $10.7 million, non-recourse loan from Nationwide Mutual Insurance Co. The loan features a fixed 3.9 percent interest rate and matures in 2030. Located approximately one mile off Interstate 26, Irmo Station is anchored by a 56,942-square-foot Kroger grocery store. The acquisition marks New Market Properties’ 34th grocery-anchored shopping center across seven states.

July 31, 2017

Multifamily South Carolina Southeast

Wood Partners Breaks Ground on 329-Unit Apartment Community Near Charleston

by Camren Skelton July 28, 2017

SUMMERVILLE, S.C. — Wood Partners has broken ground on Alta Brighton Park, a 329-unit multifamily community in Summerville, roughly 25 miles northwest of Charleston. Located within Nexton, a mixed-use community, the Class A apartment property will feature a saltwater swimming pool, fitness center, resident library and business center. The apartment community is slated to begin leasing in summer 2018.

July 28, 2017

Retail South Carolina Southeast

Matthews Brokers $22M Sale of Retail Center Near Hilton Head

by Camren Skelton July 28, 2017

BLUFFTON, S.C. — Matthews Real Estate Investment Services has arranged the $22 million sale of Low Country Village, a 140,000-square-foot shopping center in Bluffton, roughly seven miles west of Hilton Head. Scott Henard of Matthews led the transaction on behalf of the seller, Retail Properties of America Inc. A private, California-based buyer acquired the property. At the time of sale, Low Country Village was fully leased to 14 tenants including Ross Dress for Less, Michaels, Cost Plus World Market, Big Lots and Pier 1 Imports. Constructed in 2001, the shopping center is situated between two Tanger Factory Outlet Centers.

July 28, 2017

Office South Carolina Southeast

NAI Avant Brokers $11.3M Sale of Office Building in North Charleston

by Camren Skelton July 21, 2017

NORTH CHARLESTON, S.C. — NAI Avant has arranged the $11.3 million sale of 4221 Faber Place Drive, a 48,000-square-foot, Class A pharmaceutical manufacturing and testing facility located within the Faber Place Executive Park in North Charleston. Dexter Rumsey of NAI Avant represented the buyer, JEMA I LLC, in the transaction. CBRE’s Charlie Carmody represented the seller, The Medical University of South Carolina. At the time of sale, the building was leased long-term to a pharmaceutical testing company.

July 21, 2017

Industrial North Carolina South Carolina Southeast

CBRE Brokers $72.5M Sale of Industrial Portfolio in Carolinas

by Camren Skelton July 17, 2017

CHARLOTTE, N.C. — CBRE Group Inc. has arranged the $72.5 million sale of a 1.2 million-square-foot industrial portfolio along the I-85 corridor in the Carolinas. The portfolio includes four warehouse and distribution buildings — one in Charlotte and one in Greensboro in North Carolina and two in Greenville, S.C. Patrick Gildea, Matt Smith, Anne Johnson, Bryan Crutcher, Trey Pennington and Dodson Schenck of CBRE represented the seller, Charlotte-based Beacon Partners, in the transaction to New York-based Gramercy Property Trust. The properties were 87 percent leased at the time of sale to anchor tenants including HD Supply, BMW Manufacturing, LeSaint Logistics and XPO Logistics.

July 17, 2017

Industrial South Carolina Southeast

Ridge Breaks Ground on 686,300 SF Industrial Project at Charleston Logistics Center

by Camren Skelton July 13, 2017

JEDBURG, S.C. — Ridge, the industrial division of Transwestern Development Co., has broken ground on two industrial buildings totaling 686,300 square feet of speculative space in Jedburg, roughly 30 miles northwest of Charleston. Located within Charleston Logistics Center, the two Class A buildings will feature 32-foot clear heights, 54-by-48-foot column spacing, a 60-foot staging bay, ESFR sprinkler systems, 64 dock doors, two drive-in doors, 202 car parking spaces and 76 truck parking spaces. The two buildings are slated for delivery in the first quarter of 2018. Simons Johnson and Peter Fennelly of Colliers International will handle leasing of the properties.

July 13, 2017

Office South Carolina Southeast

Colliers International Arranges $29M Sale of Office Tower in Columbia

by Camren Skelton July 12, 2017

COLUMBIA, S.C. — Colliers International has arranged the $29 million sale of Wells Fargo Tower, a 264,857-square-foot office tower located at 1441 Main St. in Columbia. Mark De Riemer of Colliers International brokered the sale to Atlanta-based Glenfield Capital on behalf of the seller, Franklin Street Properties Corp. The Class A building was 79 percent leased at the time of sale to 17 tenants including Wells Fargo, GSA, Centene and Accenture. Glenfield Capital has retained Tommy Johnson and David Lockwood of Colliers International to handle the leasing assignment for Wells Fargo Tower.

July 12, 2017

Loans Multifamily North Carolina South Carolina Southeast

Hunt Mortgage Provides $51.5M in Refinancing for Two Multifamily Properties in Carolinas

by Camren Skelton July 11, 2017

CHARLOTTE, N.C. AND COLUMBIA, S.C. — Hunt Mortgage Group has provided $51.5 million in financing for two apartment communities in the Carolinas — $31.9 million for the refinancing of Highlands at Alexander Pointe in Charlotte and $19.6 million for the refinancing of Carrington Place at Wildewood in Columbia. Hunter Mortgage Group arranged the seven-year, adjustable-rate loans through Freddie Mac on behalf of the borrower, an undisclosed national real estate fund. Built in 2002, Highlands at Alexander Pointe features a fitness center, clubhouse, grill area, pool, laundry center and a dog park. Constructed in 2005, Carrington Place at Wildewood includes a fitness center, grill area, pool, laundry center, playground and a dog park.

July 11, 2017

Hospitality Loans North Carolina South Carolina Southeast

The Carlton Group Secures $55M in Acquisition Financing for Hotel Portfolio in Carolinas

by Camren Skelton July 6, 2017

NEW YORK — The Carlton Group has arranged approximately $55 million of equity and debt for a 511-room hotel portfolio acquisition in North and South Carolina. Comprising five hotels branded by Marriott, IHG and Choice flags, the portfolio is located in North Myrtle Beach, S.C., and the North Carolina metros of Charlotte, Gastonia, Goldsboro and Wilmington. Michael Campbell, Steven Weiss and Steven Fenster of Carlton secured a roughly $36.5 million first mortgage and $8 million of preferred equity from a West Coast wealth manger, as well as $9 million of common equity from an undisclosed investor. The undisclosed hotel manager also invested capital along with the sponsors.

July 6, 2017

Industrial South Carolina Southeast

Samsung to Open $380M Home Appliance Manufacturing Plant in South Carolina

by Camren Skelton June 29, 2017

NEWBERRY, S.C. — Samsung plans to open a $380 million home appliance manufacturing plant in Newberry, roughly halfway between Greenville and Columbia, S.C. The project is expected to produce 954 jobs, including craftsmen, operators, engineers and other technical and non-technical positions, by 2020. Samsung already operates a call center in Greenville that supports 800 full time and contracted jobs. The Newberry plant is the latest in a series of investments over the past 18 months totaling $10 billion that will expand Samsung’s U.S. holdings and operations.

June 29, 2017

Newer Posts

Older Posts