South Carolina

Beacon Partners Break Ground on Spec Industrial Facility in South Carolina

by John Nelson August 14, 2015

GREER, S.C. — Beacon Partners has begun construction on a 240,020-square-foot speculative industrial facility located at 545 Brookshire Road in Greer. Beacon Partners expects to complete the property in February 2016. The location is approximately two miles from I-85, Greenville-Spartanburg International Airport and the South Carolina Inland Port at Greer. Tim Robertson of Beacon Partners will lead the leasing efforts for the facility, which will feature an ESFR sprinkler system, 32-foot clear heights and a 185-foot truck court to accommodate on-site trailer parking.

August 14, 2015

Hospitality South Carolina Southeast

Hotel Development Partners, Ares Management Acquire Three Hotels in North Charleston

by John Nelson August 11, 2015

NORTH CHARLESTON, S.C. — Hotel Development Partners and funds managed by Ares Management LP have purchased three select-service hotels in North Charleston totaling 248 rooms. The properties include the Residence Inn by Marriott Charleston North/Ashley Phosphate, the Fairfield Inn & Suites by Marriott Charleston North/Ashley Phosphate and an unnamed Choice Hotels-branded hotel. Including this transaction, HDP and Ares Management have purchased 10 hotels together, with the other seven hotels located in the metro Atlanta area. HDP is an Atlanta-based joint venture between Hotel Equities and IRE Capital. Hotel Equities has assumed management of the three hotels.

August 11, 2015

Industrial South Carolina Southeast

Rockefeller Group, WestRock Break Ground on Distribution Center for Gerber Childrenswear in Charleston

by John Nelson August 10, 2015

CHARLESTON, S.C. — The Rockefeller Group and WestRock Land and Development (formerly MWV Community Development and Land Management) have broken ground on a 477,000-square-foot distribution center in Charleston. The companies are developing the center on behalf of Gerber Childrenswear LLC, a children’s apparel company whose licensed brand portfolio includes Gerber, Jockey, New Balance and NFL. The company’s proprietary brands include Onesies Brand and Always Baby. The new distribution center will double Gerber’s footprint in the Charleston metropolitan area. The new facility will be located in the 400-acre Rockefeller Group – MeadWestvaco Foreign Trade Zone/Charleston industrial campus in Berkeley County. Peter Fennelly and Simons Johnson of Colliers International’s Charleston office represented Gerber Childrenswear in the transaction. Evans General Contractors is the general contractor for the project. The new distribution center is slated for a January 2016 completion.

August 10, 2015

North Carolina Retail South Carolina Southeast

The Shopping Center Group Brokers $9.9M Sale of Two Shopping Centers in the Carolinas

by John Nelson August 10, 2015

ROCK HILL, S.C. AND HIGH POINT, N.C. — The Shopping Center Group has arranged the sale of two grocery-anchored neighborhood centers in the Carolinas — Belleview Square in Rock Hill and Fairfield Square in High Point. The 77,800-square-foot Belleview Square sold for $5.8 million. The shopping center is anchored by Super BI-LO and was 90 percent leased at the time of sale to tenants such as Cricket Wireless, Papa John’s, HomeSmart Lease-To-Own and Albright’s Liquor Store. The 71,000-square-foot Fairfield Square sold for $4.1 million. The shopping center is anchored by Food Lion and was 100 percent leased at the time of sale to tenants such as Radio Shack, Family Dollar and Donut World. An affiliate of New York-based Juster Development sold both assets to an affiliate of Richmond, Va.-based Hackney Real Estate Partners. Anthony Blanco, Lenard Williams, Darrell Palasciano and Mallory Ham of The Shopping Center Group marketed both properties.

August 10, 2015

Multifamily South Carolina Southeast

CBRE Brokers $44.7M Sale of Apartment Community in Downtown Greenville

by John Nelson August 4, 2015

GREENVILLE, S.C. — CBRE has brokered the $44.7 million sale of McBee Station Apartments, a 197-unit, Class A apartment community in downtown Greenville. The property is located adjacent to a Publix-anchored shopping center, the Swamp Rabbit Trail, Cleveland Park and Falls Park. Atlanta-based TriBridge Residential purchased McBee Station from an undisclosed seller. Phil Brosseau, Kevin Kempf and Malcolm McComb of CBRE represented the seller in the transaction. Steve Haffner and Nate Sittema of CBRE arranged $29 million in acquisition financing through Allianz Real Estate of America on behalf of TriBridge Residential.

August 4, 2015

Hampton Inn & Suites Greenville/Spartanburg

Hospitality South Carolina Southeast

Marcus & Millichap Brokers $11.3M Sale of Hotel in Metro Greenville

by John Nelson August 4, 2015

DUNCAN, S.C. — Marcus & Millichap has brokered the $11.3 million sale of the 133-room Hampton Inn & Suites Greenville/Spartanburg. The five-story hotel is located at 108 Spartangreen Blvd. in Duncan, a suburb of Greenville. The hotel is located near I-85, Tyger River Park, the headquarters of Denny’s and the BMW manufacturing plant. David Greenberg and Robert Hunter of Marcus & Millichap’s Fort Lauderdale office represented both the buyer and seller in the transaction. Raj Ravi is Marcus & Millichap’s broker of record in South Carolina.

August 4, 2015

Office South Carolina Southeast

DTZ Brokers Sale of Office Building in Columbia

by John Nelson August 4, 2015

COLUMBIA, S.C. — DTZ has brokered the sale of Crown Pointe, a Class A office building in Columbia. The property was fully leased at the time of sale to Allstate, CGI Technologies and Sharp Corp. Rob Cochran and Jared Londry of DTZ represented the seller, Charleston, S.C.-based Durlach Associates, in the transaction. The buyer, East West Capital, purchased the office building for an undisclosed amount. Crown Pointe is East West Capital’s first purchase in South Carolina.

August 4, 2015

Office South Carolina Southeast

Garrison Investment Group Inks Nearly 100,000 SF in Leases in Greenville Office Portfolio

by John Nelson July 27, 2015

GREENVILLE, S.C. — Garrison Investment Group has signed nearly 100,000 square feet of office space to new tenants at its eight-building office portfolio in Greenville. The leases include Ahold leasing 26,000 square feet at 651 Brookfield Parkway; The Gordian Group leasing 21,000 square feet at Patewood 2 in Office Park Patewood; and Real Page leasing 46,400 square feet at Patewood 3. Other new tenants at Patewood include NFP, OB Hospitalist Group, Auto-Owners, Palmetto Security Group and Keyence Corp. of America. The portfolio is managed by Trinity Partners, asset-managed by Trinity Capital Advisors, and leased by CBRE. Charles Gouch, Blaine Hart and Shelby Dodson of CBRE represented Garrison Investment Group in the new lease transactions. Garrison recently completed a $2 million capital improvement program at its portfolio comprising the addition of a fitness center at Office Park Patewood, new signage and lobby upgrades.

July 27, 2015

Industrial Market Reports South Carolina Southeast Southeast Market Reports

South Carolina’s Midland Region is in the Middle of ‘Manufacturing Renaissance’

by John Nelson July 27, 2015

South Carolina continues to see a manufacturing renaissance, after back-to-back record years of manufacturing investment totaling $10 billion in 2013 and 2014. All signs suggest that 2015 will be just as promising. The Midlands region has benefitted from this investment and is poised to take off in 2015. As the market has heated up, the Midlands region of South Carolina has the most to offer in the way of product for new and expanding companies. Yes, in 2015 vacancy is a good thing! As the upstate and low country markets have become alarmingly tight on viable manufacturing space, the Midlands region offers up an array of high-quality industrial product that is move-in ready. Data for the first quarter of 2015 shows significant improvements in the Midlands market with investments, job creation and construction activity. Major companies, including Brazil-based Inbra Industrias Quimicas, Red Bone Alley Foods, Avantrech and Wire Mesh Cos., have all made multi-million dollar investments in new or expanded facilities, and there is also increased build-to-suit and speculative construction across the region. There has also been a growth in leasing, as manufacturers pursue existing facilities that can meet the demands for advanced manufacturing but with significant cost savings over …

July 27, 2015

Industrial South Carolina Southeast

Lincoln Property Trust Signs Outdoor Equipment Manufacturer to Lease in Greer

by John Nelson July 14, 2015

GREER, S.C. — Lincoln Property Trust has signed a 31,200-square-foot lease with Ariens Co. for industrial space at 120 Caliber Ridge Drive. The 62,400-square-foot industrial facility is situated within Caliber Ridge Industrial Park, a 624,000-square-foot industrial park located at I-85 and Highway 101 near Greer’s inland port. Elliott Fayssoux, Brian Young and Kacie Jackson of Cushman & Wakefield | Thalhimer represented Lincoln in the lease transaction. Campbell Lewis of CBRE represented Ariens Co., an outdoor equipment manufacturer based in Wisconsin.

July 14, 2015

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