Archive for July, 2011

Jul
30

Ashley Furniture Store in Columbia Sold

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The Ashley Furniture Home Store at 108 Harbison Blvd in Columbia sold last month. Built in 2005, the 44,000 square foot store is situated on 3.5 acres. Real Capital Analytics reports the sales price as approximately $2,800,100. The store was leased at the time of sale, with the tenant being the purchaser.

Categories : Columbia
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Jul
30

Two New C-Stores Planned for Bluffton

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The Parker Cos. plan to open two new convenience stores in the Bluffton area. The stores will be at 1286 Fording Island Road, just east of Tanger Outlet Center 1, and at 2 Gateway Village, in front of Home Depot.

There are already two Parker’s locations in southern Beaufort County: 9227 Evan Way and 469 Buckwalter Place.

Categories : Bluffton
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Jul
29

NAI Earle Furman Announces Sales

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Greenville, South Carolina (July 2011): Earle Furman, Jr. SIOR, Alexi Papapieris & John Staunton of NAI Earle Furman, LLC represented CapCar Realty 1.1, LLC in selling a 123,334 SF industrial building at 2200 Poinsett Highway.

Greenville, South Carolina (July 2011): Glenn Batson of NAI Earle Furman, LLC represented Mauldin Property, LLC in selling a parcel of land at W. Butler Road & Taylors Road.

Piedmont, South Carolina (July 2011): Jon Good, SIOR and Jake Van Gieson of NAI Earle Furman, LLC represented The Palmetto Bank in selling a 4,400 SF industrial building at 1914 & 1918 River Road.

Categories : Greenville
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Jul
28

PKF Hotel Horizons Market Update

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Categories : National News
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Jul
28

Colliers: Mid-Year Investment Market Report for Charleston Released

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Download the report by clicking on the picture.

Categories : Charleston
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Jul
27

Murrell’s Inlet’s Inlet Square Mall Renovation Completed

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The owners of Inlet Square selected Mashburn for the recent 70,000 square foot renovation. The scope included updates to the interior of the center, such as: removal of all old tile flooring and replacement with new tile, carpet and wood flooring. Also included were high end lighting modifications; redistribution of HVAC systems; updated fire alarm and PA system; custom skylight and soffit modifications; and the renovation of all public restroom facilities. The exterior of the mall also received a major upgrade consisting of new EIFS around the entire perimeter of the mall as well as new paint at selected areas. The mall stayed open throughout the duration of the project, and the work was completed 31 days early, in time for back-to-school and holiday shopping seasons.

MORE ON INLET SQUARE HERE

Categories : Myrtle Beach
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Jul
27

Construction Begins in Greenville’s Legacy Park

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Verdae Development Inc. has begun site preparation for phase one of Legacy Square, the planned neighborhood-scaled commercial district within Hollingsworth Park.

Verdae pre-sold three of the seven available pad sites for professional office and retail use. The initial corner, at the intersection of Rocky Slope Road and Legacy Park Road, will showcase wide sidewalks, storefronts facing the street and parking behind the buildings.

Holliday Dental, N&H Enterprises and Verdae Development have purchased sites and will construct the first three buildings, each privately-owned. Approximately 30,000-square-feet of commercial space is expected for phase one. Future phases of Legacy Square will be developed on the remaining corners, which amount to nearly 10 acres.

Construction for the first three buildings is set to begin in August. As identified in the Verdae master plan, Legacy Square aims to enhance community by placing a blend of merchants and service providers near residents.

READ MORE HERE

Categories : Greenville
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Jul
27

2Q 2011 Investment Outlook: Appetite for Real Estate Grows

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Nearly two-thirds of respondents (64%) to an online survey of investors conducted this spring by NREI & Marcus & Millichap plan to to boost the size of their commercial real estate portfolios over the next 12 months. The average increase by total dollars is projected to be 23%.

DOWNLOAD REPORT HERE

Categories : National News
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Jul
27

A New, Smaller Wal-Mart for Greenville?

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Categories : Greenville
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Jul
26

Bi-Lo Grocery Store in Chester Sold

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TNP Strategic Retail Trust, Inc. (the “Company”), a public non-traded REIT that invests in grocery and drug-store anchored, multitenant necessity retail properties and other real estate–related assets, announced today the acquisition of a BI-LO grocery store, a 45,817 square foot freestanding building, located within the Chester Plaza Shopping Center in Chester, South Carolina.

Originally constructed in 1991, BI-LO remodeled and expanded the property by more than 15,000 square feet in 1999, adding a bakery, cafe and pharmacy. BI-LO will implement its “Clean and Bright” store modernization and upgrade program, spending approximately $1.5 million at the Chester location, including exterior paint, new signage, installing new wood flooring in the produce department and increasing marketing and coupon programs. These upgrades are anticipated to increase sales by approximately 20 to 25 percent. BI-LO has occupied this center for more than 19 years and has a long term lease in place through 2019 with options through 2039.

Categories : Chester
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Jul
26

CoStar: Hotels Rivaling Apartments As Targets for Investors

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A number of large multi-property hotel acquisitions in recent weeks by Hyatt Hotels, Pebblebrook Hotel Trust and Chatham Lodging Trust illustrate the rising appetite for hospitality investments, a quest that’s quickly spreading beyond REITs to other institutional and private investors.

What’s more, prospective buyers are trolling for more than just the top-quality inns and resorts on the U.S. coasts, now looking at deals in such large inland metros as Pittsburgh and Denver.

About $11.36 billion in U.S. hospitality properties traded hands in the first half of 2011, up 134% from $4.9 billion in the first half of last year and up eightfold from the market doldrums of first-half-2009, according to preliminary sales volume data from CoStar Group.

READ MORE HERE

Categories : National News
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Jul
26

Murrells Inlet MOB Sold

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According to Real Capital Analytics, the Wachesaw Medical Center at 4367 Riverwood Dr in Murrells Inlet, SC sold last month. The 37,976 sf building is situated on a 3.76 acre site and is approximately 76% occupied. RCA reports show that the buyer, Waccamaw Community Hospital, paid approximately $5.5 million. The two story building was built in 2006 and Grand Strand Urology LLP is a tenant. No cap rate was reported.

Categories : Myrtle Beach
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Jul
26

Case-Shiller Posts Second Straight Increase

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For the second month since recording an official double-dip in home prices, the S&P/Case-Shiller index has posted an uptick. Data just released by Standard & Poor’s shows that 16 of the 20 metros included in the study and both composites reported positive monthly increases. The 10- and 20-city composites were up 1.1 percent and 1.0 percent, respectively, in May over April. Both readings were down on an annual basis.

Categories : National News
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Jul
26

Extended Stay Hotels’ Spartanburg Headquarters For Sale

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Extended Stay Hotels is taking another step in its plan to move to Charlotte, N.C., by selling its former headquarters building in downtown Spartanburg.

HVM LLC, the company managing the national hotel chain, announced the move three months ago. The landmark structure has been a cornerstone in downtown redevelopment for almost 10 years. It encouraged companies like QS/1 and other businesses to move to the central business district.

Jubal Early, senior vice president for Lincoln Harris in Charlotte, said a for-sale package is being developed for the building. It is expected to be completed by the first week of August, but an asking price will not be listed.

READ MORE HERE

Categories : Charlotte
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Jul
25

New Retail Development Coming to Awendaw

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Developers hope to transform a corner on a busy highway corridor in Awendaw into a retail center.

Property owner Bloch Investments of Louisville, Ky., is installing roads and infrastructure on a 6-acre parcel on the southeast corner of U.S. Highway 17 and Sewee Road.

A separate 3.5-acre tract that was part of the same property is being developed into a new 19,000-square-foot Tractor Supply store that will include 15,000 square feet of outside storage space. It’s the third Tractor Supply store in the Charleston area.

Bloch Investments hopes to lease or sell the 6-acre parcel to other retail interests, according to Jim Robertson, president of Strategic Real Estate Advisors of Mount Pleasant.

READ MORE HERE

Categories : Charleston
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