GREENVILLE, S.C. — A development partnership between Atlanta-based TPA Group, Greenville-based Appian Investments and Boston-based Long Wharf Real Estate Partners plans to build a new 331,850-square-foot spec industrial facility in Greenville. The property will be situated within the 1,100-acre Augusta Grove business park on a 46.1-acre site at the intersection of Matrix Parkway and Old Grove Road. Known as Augusta Grove #17, the Class A, rear-load project will feature 32-foot clear heights, LED lighting and an ESFR sprinkler system. The development team plans to break ground on the property by the end of the year and wrap up construction by late summer 2017. NAI Earle Furman is marketing the property for lease or sale. The project team includes Greenville-based general contractor Harper Corp., architect Wakefield Beasley & Associates and civil engineer blueWATER Civil Design.
GREER, S.C. — Liberty Property Trust has broken ground on Caliber North, a 171,600-square-foot warehouse situated within the Caliber Ridge industrial park in Greer. Located at I-85 and Green Road, the warehouse is situated near the BMW Manufacturing Plant and the South Carolina Inland Port. Set for an April 2017 completion, Caliber North will feature 7-inch concrete slab floors and 36-foot clear heights, the first warehouse in the market built to those specifications. The project team includes architect MCA Architecture, civil engineer blueWATER Civil Design and general contractor Harper Corp. Jaime Maldonado of Liberty Property Trust is Caliber North’s project manager, and Liberty’s Bryan Blythe is teaming up with Brian Young, Elliott Fayssoux and Kacie Jackson of Cushman & Wakefield | Thalhimer to market the project. Liberty is planning to build a second property at the site totaling 94,500 square feet.
NORTH CHARLESTON, S.C. — Colliers International has arranged the $22.4 million sale of The Shoppes at Centre Pointe, a 112,302-square-foot shopping center located in North Charleston. The property is fully leased to Field & Stream, Conn’s HomePlus and La-Z-Boy. Marc Bonilla of Colliers International represented the buyer, Rose FP LLC, in the transaction. Joey Odom of Stan Johnson Co. represented the seller, SC North Charleston CPD 2G-1 1B.
CHARLESTON, S.C. — Baltimore-based Continental Realty Corp. has purchased West Ashley Shoppes, a 136,242-square-foot shopping center located at 946 Orleans Road in Charleston. Continental Realty bought the asset through its Continental Realty Fund IV LP fund from T West Ashley SC LLC for $17.3 million. Built in 1987 and renovated in 2003, West Ashley Shoppes was 93 percent leased at the time of sale to tenants such as Bed Bath & Beyond, Cost Plus World Market, Ross Dress for Less and Party City. Kyle Stonis and Pierce Mayson of SRS Real Estate Partners represented the seller in the transaction.
COLUMBIA AND NORTH CHARLESTON, S.C. — Berkadia has brokered the sale of two multifamily communities located in Columbia and North Charleston for a combined $46.4 million. The transactions include the $30 million sale of Greenbrier Apartments in Columbia and the $16.4 million sale of Ashley Village Townhomes in North Charleston. Southwood Realty purchased the 526-unit Greenbrier Apartments from an undisclosed seller. PEM Real Estate Group purchased the 260-unit Ashley Village Townhomes from URS Capital Partners. Mark Boyce and Blake Coffey of Berkadia brokered the transactions.
GREENVILLE, S.C. — CBRE has brokered the sale of two multi-tenant office buildings located at 201 and 651 Brookfield Parkway in Greenville. Atlanta-based Fairlead Capital Partners purchased the two properties from Garrison Investment Group for a combined $25 million. Fairlead funded the purchase with its proprietary capital and equity from Bridge Investment Group Partners, manager of the ROC funds. Totaling 238,175 square feet, the assets are leased to tenants such as MetLife, GE Gas Turbines and Ahold USA. Patrick Gildea and Tripp Sellers of CBRE represented Garrison Investment Group in the transaction.
FLORIDA, N.Y. — Big V Capital LLC, the investment management affiliate of New York-based Big V Properties, has closed on the purchase of three shopping centers in the Southeast for a combined $24 million. The properties include the 74,370-square-foot Village at Myrtle Grove in Wilmington, N.C.; the 180,194-square-foot Lancer Center in Lancaster, S.C.; and the 203,876-square-foot Lanier Plaza Shopping Center in Brunswick, Ga. Village at Myrtle Grove was 87 percent leased at the time of sale to tenants such as Staples; Lancer Center was 89 percent leased to Big Lots, Citi Trends, Pet Sense and Bi-Lo; and Lanier Plaza was 81 percent leased to Winn-Dixie, Dollar Tree, Rent-A-Center and Habitat for Humanity. With the purchase of these three assets, Big V Properties owns and/or operates 31 Class A and B shopping centers totaling roughly 3 million square feet.
ACWORTH, GA. AND NORTH CHARLESTON, S.C. — Cushman & Wakefield has secured more than $32 million in short-term, floating-rate financing for the acquisition of and capital improvements to two multifamily communities in Georgia and South Carolina. The properties include Stanton Place Apartments, a 240-unit, garden-style community located roughly 30 miles outside of Atlanta in Acworth; and The Reserve at Ashley River, a 280-unit, garden-style community located in North Charleston, S.C. Cushman & Wakefield’s Mike Ryan, Telly Fathaly and Brian Linnihan secured the financing on behalf of The RADCO Cos. through a regional bank. RADCO plans to implement a combined $6.3 million in capital improvements to the communities.
PITTSBURGH — Pittsburgh-based HFF has arranged $62 million in financing for a portfolio of seven retail centers totaling 805,803 square feet in North Carolina, South Carolina, Georgia and Mississippi. The portfolio includes a Walmart Neighborhood Market located at 10635 Dorchester Road near Charleston in Summerville, S.C.; Poplar Springs Plaza, located at 2153 E. Main St. in Duncan, S.C.; Tire Kingdom & Starbucks Coffee, located at 1820 N. Highway 17 near Charleston in Mount Pleasant, S.C.; Albany Square, located at 2707 Dawson Road in Albany, Ga.; East-West Commons, located at 1757 East-West Connector in Austell, Ga.; Morganton Heights, located at 400 Henredon Road in Morganton, N.C.; and The Ridge at Turtle Creek, located in Hattiesburg, Miss. The portfolio’s tenants include Publix, Academy Sports + Outdoors, Dick’s Sporting Goods, T.J. Maxx, Ross Dress for Less, Hobby Lobby and Bealls. Kevin Mackenzie, Greg Brown and Cory Fowler of HFF worked on behalf of the borrower-sponsor, Cole Credit Property Trust IV Inc., to place the seven-year, fixed-rate loan through Voya Investment Management. HFF will service the loan.
KING OF PRUSSIA, PA. — Morgan Properties has purchased an 11-property multifamily portfolio that spans four states for $316 million. The assets, collectively known as Star Portfolio, contain a total of 2,826 units across Maryland, Pennsylvania, North Carolina and South Carolina. The transaction includes the Greens at Westgate in Pennsylvania; the Waterway and Forest Oaks in South Carolina; Falls Creek and Heather Park in North Carolina; and Silver Spring Station, Westerlee, the Willows, St. Mary’s, Taylor Park and Willowood in Maryland. The assets have an average age of 29 years. All the properties are situated in high-barrier submarkets close to major development hubs and public transit. Morgan Properties plans to execute a multi-million-dollar, value-add repositioning plan at each property. The renovation strategy will include premium kitchen and bath renovations and amenity upgrades. Morgan Properties acquired Star Portfolio through an affiliated joint venture. David Oakley and Scott Melnick of Berkadia represented Morgan Properties in the transaction. Deutsche Bank represented the unnamed seller. The firm also recently purchased three separate Maryland multifamily assets, including the 325-unit Grand Pointe in Columbia; the 606-unit Avery Park in Silver Spring; and the 450-unit Henson Creek in Temple Hills. Morgan Properties owns and manages 132 apartment …