South Carolina

Husqvarna Consumer Outdoor Products Orangeburg

Beacon Partners to Develop 513,000 SF Build-to-Suit Distribution Center in South Carolina

by John Nelson May 12, 2016

ORANGEBURG, S.C. — Beacon Partners has broken ground on a new 513,000-square-foot distribution center in Orangeburg. The project is a build-to-suit facility for Husqvarna Consumer Outdoor Products, a subsidiary of the Swedish manufacturer of outdoor power products. Husqvarna has signed a long-term lease at the property, which will be situated adjacent to the company’s existing 1 million-square-foot manufacturing facility. Beacon Partners expects to deliver the property in the fourth quarter of this year. The project team includes general contractor InterCon Building Corp., architect Merriman Schmitt and civil engineer Alliance Consulting & Engineers.

May 12, 2016

Retail South Carolina Southeast

Ziff Properties Sells Retail Center in South Carolina for $4.3M

by John Nelson May 11, 2016

LEXINGTON, S.C. — Ziff Properties Inc. has sold Colonnade at White Knoll, a 22,466-square-foot retail center located in Lexington. A North Carolina-based buyer purchased the property from Ziff Properties in a 1031 exchange for $4.3 million. Berkeley Capital represented Ziff Properties in the transaction.

May 11, 2016

Coastal North Town Center North Myrtle Beach

Retail South Carolina Southeast

Inland Real Estate Income Trust Purchases Retail Power Center in North Myrtle Beach for $72.4M

by John Nelson May 6, 2016

NORTH MYRTLE BEACH, S.C. — Inland Real Estate Income Trust Inc. has purchased the 311,313-square-foot Coastal North Town Center in North Myrtle Beach. According to Inland’s federally mandated quarterly report, the sales price was $72.4 million and the company borrowed from its credit facility to fund a portion of the acquisition. Constructed in 2014, the shopping center was 93.5 percent leased at the time of sale to tenants such as Publix, Hobby Lobby, Dick’s Sporting Goods, Ulta Beauty, PetSmart, T.J. Maxx, Ross Dress for Less, Rack Room Shoes, Mattress Firm and several restaurants. Mark Cosenza of Inland Real Estate Acquisitions Inc. facilitated the purchase of the property on behalf of Inland Income Trust. The seller was undisclosed.

May 6, 2016

Alabama Georgia Retail South Carolina Southeast

Preferred Apartment Communities Purchases Grocery-Anchored Retail Portfolio for $68.7M

by John Nelson May 2, 2016

ATLANTA — Preferred Apartment Communities Inc. (PAC) has purchased six grocery-anchored retail properties in Georgia, South Carolina and Alabama for $68.7 million. The portfolio spans 535,000 square feet and comprises five Publix-anchored centers and one Walmart Supercenter-anchored property. PAC purchased the six properties through its wholly owned subsidiary New Market Properties LLC. PAC used roughly $25 million in debt from Unum Life Insurance Co. of America, Colonial Life & Accident Insurance Co. and First Unum Life Insurance Co. to purchase four of the properties. PAC used available funds to purchase the remaining balance of the four properties and to purchase the other two retail centers completely without debt.

May 2, 2016

Office South Carolina Southeast

Cushman & Wakefield Brokers $67.1M Sale of Lash Group HQ Building in Metro Charlotte

by John Nelson April 26, 2016

FORT MILL, S.C. — Cushman & Wakefield has arranged the $67.1 million sale of The Lash Group headquarters, a 247,834-square-foot, Class A office building located in Fort Mill, roughly 19 miles south of Charlotte. The office building is fully leased to The Lash Group, a subsidiary of AmerisourceBergen Corp. The buyer, 90 North Real Estate Partners LLP, purchased the building from a joint venture between Childress Klein and The Springs Co. Cushman & Wakefield’s Charlotte capital markets team represented the seller in the transaction.

April 26, 2016

Alabama Georgia Industrial South Carolina Southeast

CenterPoint Properties Acquires 1.2M SF Warehouse Portfolio in the Southeast

by John Nelson April 26, 2016

OAK BROOK, ILL. — CenterPoint Properties has purchased a three-building, 1.2 million-square-foot portfolio of Class A warehouses located in Savannah, Ga.; Charleston, S.C.; and Mobile, Ala. All three buildings are fully leased and feature 32-foot clear heights, cross dock loading configurations, 50- by 52-foot column spacing and parking for trailers. All three buildings are also located near the Ports of Savannah, Charleston and Mobile. CenterPoint purchased the portfolio from Johnson Development Associates Inc. for an undisclosed price. Frank Fallon of CBRE represented the seller in the transaction.

April 26, 2016

Georgia Retail South Carolina Southeast

Wheeler REIT Buys Shopping Centers in South Carolina, Georgia from Piggly Wiggly for $71M

by John Nelson April 20, 2016

VIRGINIA BEACH, VA. — Wheeler Real Estate Investment Trust Inc., a Virginia Beach-based retail REIT, has acquired 14 shopping centers in South Carolina and Georgia for $71 million, making it the REIT’s largest portfolio purchase to date. Wheeler REIT purchased the portfolio from Mount Pleasant, S.C.-based Piggly Wiggly Carolina Co. KeyBank Real Estate Capital provided the bulk of the acquisition financing on behalf of Wheeler REIT, and Dallas-based Revere Capital provided an $8 million loan. Brian O’Flanagan of Revere Capital’s Dallas office originated the loan. The acquired portfolio consists of 603,142 square feet and has a combined occupancy of 92 percent with grocery-anchored tenants that include Harris Teeter, Bi-Lo and Piggy Wiggly. The Shoppes at Litchfield Market Village in Pawleys Island, S.C., is one of the properties. The others include a Piggly Wiggly-anchored center in Georgetown, S.C., as well as locations in Greenwood, Mullins, Bluffton, Lexington, St. Matthews, Columbia and Ridgeland in South Carolina and one location in Darien, Ga. Kyle Stonis and Pierce Mayson of SRS Real Estate Partners’ Atlanta office brokered the transaction.

April 20, 2016

Industrial Loans South Carolina Southeast

KeyBank Secures $31.8M CMBS Financing for Industrial Portfolio in South Carolina

by John Nelson April 19, 2016

CLEVELAND — KeyBank Real Estate Capital has provided a $31.8 million CMBS loan for an industrial portfolio totaling 1.35 million square feet throughout South Carolina. The portfolio comprises mostly Class B distribution and warehouse facilities that were 95.9 percent leased at the time of financing. Robert Williams and David Pyc of KeyBank’s commercial mortgage group arranged the non-recourse financing on behalf of the borrower, Reger Holdings LLC.

April 19, 2016

7748 Palmetto Commerce Parkway North Charleston

Industrial South Carolina Southeast

Lineage Logistics Opens 180,000 SF Cold Storage Distribution Center in North Charleston

by John Nelson April 11, 2016

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.

April 11, 2016

Industrial South Carolina Southeast

Colliers Brokers $4.8M Sale of 131,535 SF Industrial Facility in South Carolina

by John Nelson March 21, 2016

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.

March 21, 2016

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