South Carolina

7748 Palmetto Commerce Parkway North Charleston

NORTH CHARLESTON, S.C. — Lineage Logistics LLC, a warehousing and logistics company backed by investment firm Bay Grove, has opened its 180,000-square-foot cold storage distribution center in North Charleston. The property is located at 7748 Palmetto Commerce Parkway within Palmetto Commerce Park. Lineage Logistics worked with the South Carolina Ports Authority to facilitate the new property. Norfolk Southern provides rail service to the facility, which features 30 truck doors, four rail doors and parking for 100 cars.

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211 Farmington Drive Summerville

SUMMERVILLE, S.C. — Colliers International has brokered the $4.8 million sale of a 131,535-square-foot industrial facility located at 211 Farmington Drive in Summerville. Hagood Morrison and Hagood S. Morrison of Colliers International’s Charleston office represented the seller, The W.W. Williams Co., a national industrial equipment sales and service company. The unnamed buyer is currently renovating the property and will offer it to lease as soon as construction is completed. The property features five acres of undeveloped land suitable for a build-to-suit project.

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Half Mile North Charleston

CHARLESTON, S.C. — CBRE’s capital markets debt and structured finance team has secured a $35 million loan to recapitalize Half Mile North, an 89,919-square-foot mixed-use development in Charleston. The loan will also provide construction financing for a similar and associated 131,174-square-foot development to be called Pacific Box & Crate. Jeff Ackemann and Porter McDonald of CBRE’s Atlanta office arranged the financing through Citizens Bank on behalf of Raven Cliff Co. LLC, which is the developer of the two adaptive reuse projects. Half Mile North is close to being delivered and is nearly fully leased. Pacific Box & Crate, one-fourth of a mile away from Half Mile North, is slated to deliver in the fourth quarter of 2016 and will provide additional office and retail space. BoomTown and Phish Labs have signed leases at Pacific Box & Crate, and Blue Acorn occupies space at Half Mile North. The two properties are approximately 83 percent pre-leased.

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Campus View Clemson

CLEMSON, S.C. — ARA Newmark has arranged the sale of the 107-unit Campus View student housing property in Clemson. The 355-bed community was constructed in 2014 and was 99 percent occupied at the time of sale. The fully furnished property is within walking distance of Clemson University, three of its sports stadiums and the College Avenue district, which features more than 20 restaurants, bars and entertainment venues. Campus View is the only student housing property in Clemson that features on-site retail space. The property also includes a pool, sun deck, fitness center, entertainment facilities and an art gallery. Charleston-based developer McAlister Development sold Campus View to Columbus Nova in partnership with Coastal Ridge Real Estate. Campus View is Columbus Nova’s first student housing acquisition. Ryan Lang of ARA Newmark’s student housing group represented McAlister Development in the sale.

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Daniel Island Town Center Publix

DANIEL ISLAND, S.C. — Crossman & Co. has brokered the sale of Daniel Island Town Center, a Publix-anchored, 68,688-square-foot shopping center located on Seven Farms Drive in Daniel Island in metro Charleston. The property was 98 percent occupied at the time of sale. Publix Super Markets Inc. purchased the shopping center from an unnamed institutional group based in the Northeast for nearly $14 million.

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CHARLESTON, S.C. — A joint venture between Alex. Brown Realty Inc. (ABR), a privately owned real estate manager, and Lat Purser Associations Inc., a Charlotte-based investment firm, has purchased Ashley Oaks Plaza, a 58,720-square-foot shopping center in Charleston. The companies plan to redevelop the property, which was 81 percent leased at the time of sale. Built in 1985, the unanchored center is located less than six miles from downtown Charleston in the Ashley River Road retail corridor. ABR Chesapeake Fund V, a value-add real estate fund sponsored by ABR, invested $4 million in the joint venture.

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Daniel Island Town Center

DANIEL ISLAND, S.C. — Crossman & Co. has brokered the sale of Daniel Island Town Center, a Publix-anchored, 68,688-square-foot shopping center located on Seven Farms Drive in Daniel Island in metro Charleston. The property was 98 percent occupied at the time of sale. Publix Super Markets Inc. purchased the shopping center from an unnamed institutional group based in the Northeast.

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The Blake at Woodcreek Farms Elgin

ELGIN, S.C. — Cardinal Ventures, a developer based in Mississippi, has broken ground on The Blake at Woodcreek Farms, a seniors housing community located within the 2,300-acre resort-style community of Woodcreek Farms in the Columbia suburb of Elgin. The Blake at Woodcreek Farms will total 88,000 square feet, with a scheduled opening in early 2017. The community will have assisted living and memory care apartments. Development costs and number of units were not disclosed. Blake Management Group will operate the community once complete. The company currently manages other Blake-branded communities in Alabama, Louisiana, Mississippi and Tennessee.

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NORTH CHARLESTON, S.C. — Kettler and The Stillman Group have purchased Jamison Park in North Charleston from Middle Street Partners for $22.5 million. The apartment complex is located near the Joint Force Air Force Base, the Charleston International Airport and The Boeing Co. Phil Brosseau and Kevin Kempf of CBRE represented the buyers in the transaction. The acquisition increases the number of apartment units that Kettler manages to roughly 33,000.

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RedStone Indian Land

INDIAN LAND, S.C. — MPV Properties has broken ground on RedStone, a retail development located in Indian Land. Phase I of the property will feature a 14-screen Stone Theatre and 54,900 square feet of retail shop space. Upon completion, the shopping center will total 310,000 square feet. The property will be situated at the intersection of Highway 521 and Highway 160 in northern Lancaster County. MPV’s team for the RedStone project includes developer Mike Bilodeau and leasing agent Keely (Simerville) Hines.

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