Harris Group leased 1,756 sq.ft. at 7301 Rivers Ave. in North Charleston, SC. Mark Erickson handled lease negotiations.
Ameriprise Financial leased 1,285 sq.ft. at 130 River Landing Dr. Suite 1-D in Daniel Island, SC. Mark Erickson handled lease negotiations.
Biohabitats leased 1,275 sq.ft. at 130 River Landing Dr. in Daniel Island, SC. Mark Erickson handled lease negotiations.
The Legacy Group leased 1,135 sq.ft. at 180 Meeting St. in Charleston, SC. Mark Erickson handled lease negotiations.
Duncan, South Carolina (April 2014): Hunter Garrett, SIOR, CCIM and John Staunton of NAI Earle Furman represented Duncan Industrial, LLC in purchasing a 5,000 SF warehouse and office building at 915 Berry Shoals Road.
Greenville, South Carolina (April 2014): John Baldwin, CCIM of NAI Earle Furman represented QuikTrip Corporation in purchasing 3.06 acres at 1450 Woodruff Road.
Easley, South Carolina (April 2014): Keith Jones, CCIM of NAI Earle Furman represented the seller in selling a 16-acre land parcel at 1762 Dacusville Highway.
Mauldin, South Carolina (April 2014): Glenn Batson of NAI Earle Furman represented the seller in selling a 28,000 flex building at 325 New Neely Ferry Road. Hunter Garrett, SIOR, CCIM, and John Staunton, also of NAI Earle Furman, represented the buyer, Kellett Howard Properties, LLC.
I don’t know if you have been following the CoStar litigation against CompStak. The basics are that CoStar is suing CompStak, claiming that CoStar data was entered into the CoStar database. I won’t go into great detail, but you can read about it HERE.
The CompStak CEO has responded (LINK HERE), claiming that CoStar is just trying to intimidate its users/members. Personally, I wasn’t very familiar with CompStak, but the litigation news made me do a little research on them. This case will be interesting going forward. No matter who wins, CoStar’s lawsuit just made a lot of people aware that CompStak is an option for lease comps.
Michael B. Dodds, MAI, CCIM
The region’s median price between January and March was $215,000, up 13.2 percent compared to the first quarter in 2013, according to South Carolina Realtors’ quarterly report.
The Charleston region was better than the Southern Midlands region, which recorded a 10.4 percent hike to $70,750; and Western Upstate, which recorded a 6.9 percent increase to $130,000 in the quarter, according to the Columbia-based trade group.
Local real estate experts have said the Charleston region’s strong price increases are tied to a low inventory of homes in the first three months of the year.
There’s been hints that price increases could slow as more homes enter the market during the busy spring and summer months, officials have said. Charleston also continues to lead the state in the time it takes to sell a home.
NAI Earle Furman’s multifamily division represented the buyer, Woodfield Investments, in purchasing 19.33 acres on the Millennium Campus located at the intersection of Laurens Road and Innovation Drive for multifamily development. Tom Daniel, also of NAI Earle Furman, represented the seller, Bon Secours St. Francis Health System, in the transaction.
Woodfield Investments plans to build approximately 336 Class A+ units on the site, which will include nine three-story buildings consisting of studio, one-, two- and three-bedroom apartments. The community will have amenities such as walking trails, a pond, bicycle racks, a pool and clubhouse. Five six-unit garages will also be available.
Dan Batten represented the Seller, Twenty First Properties, Inc., in the sale of approximately 119,452 SF on 10 acres located at 2453 King Street Extension in North Charleston, SC. The buyer was represented by Caldwell Commercial.
Dunston Powell, Principal of Carolina Commercial, LLC represented the Seller, Moneyline Properties, LLC, in the sale of 3.48 acres of Retail Land on Highway 17-A in Summerville, SC. The buyer was represented by Brent Case with Caldwell Banker Commercial
Dunston Powell represented the Buyer, Moneyline Properties, LLC, in the purchase of 6,600 SF Restaurant Building on approximately 1.12 acres located at 1100 Asheville Highway in Spartanburg, SC. The Seller was represented by Andy Hayes with Spencer/Hines Properties.
Dunston Powell represented the Buyer, LMB Investments, LLC, in the purchase of 0.95 acres located at 840 Coleman Blvd in the Town of Mt. Pleasant, SC. The Seller was represented by Joyce Beach with CBRE.
Dunston Powell represented the Buyer, Moneyline Properties, LLC, in the purchase of approximately 2,000 SF Car Wash on 0.50 acres located at 3310 North Main Street in Anderson, SC. The Seller was represented by John D. Gray, Jr. with NAI Earle Furman, LLC.
Dunston Powell represented the Buyer, L. Douglas Kirkman, Jr., in the purchase of 10,458 SF on 0.56 acres located at 268 Coleman Blvd. in Mt. Pleasant, SC. The Seller was represented by Mark J. Marenakos with Southern Real Estate, Inc.
A 54-room, four-story accommodation to be billed as the King Hotel will be built on a vacant lot at 583 King St. The hotel site is across the street from the twin Hyatt hotels and Midtown mixed-use facility that have been under construction since late last year.
The project will be headed by Trey Sedalik, a managing partner of locally based Prospect Real Estate Partners, and business partner Daniel James.
Sedalik said he’s confident the hotel will stand apart from the slew of accommodations planned for the area.
“The Hyatt project will transform the area much like Charleston Place did to the 200 block of King Street in the late ’80s,” Sedalik said. “We’re excited to be part of renewing a once-neglected area in an antebellum city known for preserving its charm and Southern hospitality.”
The region’s outdoor retailing market is about to get hotter, as Bass Pro Shops said Wednesday it will locate a store in the Upstate, putting it squarely in competition with Cabela’s, which opened a store in Greenville this month.
It will be a 120,000 square-foot facility at Interstate 85 and State 101 and will open in 2016.
Karen Edwards, a senior instructor in the Department of Retailing at the University of South Carolina in Columbia, said it’s no surprise Bass Pro and Cabela’s would target the Upstate, given local residents’ penchant for the outdoors and a recovering economy.
“You’ve got the economy rebounding,” Edwards said. “You also have a major trend in cultural values as health, fitness, conservation. Those all go to into play with the strength of the movement for the outdoor-type retailing. It’s a huge market.”
Michigan-based Princeton Management, a property management company, bought the property, according to the local leasing office and Princeton’s website. Princeton Management did not return phone calls from earlier this morning.
Princeton Management owns and manages six other apartment communities in the state, all of which are in Greenville.
Marcus & Millichap Real Estate Investment Services, a national real estate investment services firm, sold Spring Hill Apartments on behalf of the seller, an undisclosed financial institution.
It remains unclear how the new owner, Victory Industrial Park, will use the plant, though the buyer said in a statement that the “company or companies that will occupy the site is/are in the field of clean-tech infrastructure.”
“After many years, we have received word from Altria of the sale of their former Philip Morris property to Victory Industrial Park,” reads a statement from the City of Concord. “The thousands of acres of land and millions of square feet of buildings should play a crucial role in the development of new jobs in Concord. The City of Concord looks forward to working with Victory Industrial Park in the future.”
Victory Industrial Park also released a statement confirming its purchase of the 2,023-acre site for $68.5 million.
But there’s no engine, and the only tires are those that roll across it.
A reserved parking space is a strengthening part of the real estate market in downtown Charleston, providing pricey relief for motorists who might otherwise circle city blocks for on-street parking in some densely populated areas.
On-street parking spaces often are at a premium on the city’s narrow streets, which are flanked by historic buildings and homes that were built long before the first automobiles rolled off assembly lines. Some recent sale listings for a single parking space in private parking lots in downtown Charleston have neared $100,000.
Prices vary greatly depending on factors such as proximity to the business district and well-heeled residential enclaves including the French Quarter.
Anybody who’s anybody in the up-and-coming Charleston tech industry knows that it’s OK to drink beer in the office after, like, 2 p.m.
That’s the main thing we took away from a recent whirlwind tour of the Holy City’s swankiest office spaces, many of which featured complimentary bars for their employees.
With the advent of Dig South upon us, including today’s Space Walk tour of offices, we thought it would be a good time to scope out our city’s most compelling variations on the boring old cubicle.
These offices made us envious. They gave us ideas to pitch to our bosses. They made us want to bring our dogs to work.