Archive for May, 2013

May
29

Bi-Lo to Buy 165 Supermarkets from Delhaize

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Bi-Lo Holdings, LLC , parent company of the BI-LO and Winn-Dixie grocery store chains, today announced that it has entered into a definitive agreement with Delhaize Group via Bi-Lo Holdings’ wholly owned subsidiary, BI-LO, LLC, under which Bi-Lo Holdings will acquire substantially all of the stores in the Sweetbay, Harveys and Reid’s supermarket chains from Delhaize for $265 million in cash.

Subject to regulatory review and approval, Bi-Lo Holdings will acquire 72 Sweetbay stores, plus leases for 10 prior Sweetbay locations, 72 Harveys stores and 11 Reid’s stores, totaling 165 stores with approximately 10,000 employees throughout the southeastern United States.

The transaction is anticipated to close in the fourth quarter of 2013 and is subject to the satisfaction of customary closing conditions, including expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Until the transaction is complete, Sweetbay, Harveys and Reid’s will continue to operate independently from Bi-Lo Holdings and its subsidiaries.

Categories : National News
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May
29

Will Tech Firms Relocate to Chapin, SC?

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For years, the Chapin area has promoted itself as a place to live, work and play. Being near the shores of Lake Murray, the Chapin area has capitalized on the “live” and “play” parts of the slogan. And now it’s time to hone in on the “work.”

That will happen when construction gets underway on a 220-acre industrial park Lexington County is developing on Columbia Avenue (S.C. Highway 48), near the Interstate 26 interchange.

In addition, the Mungo Co. is planning a 200-acre residential and commercial complex adjacent to the industrial park.

“I think certainly this will be a game changer for the community,” Chapin Mayor Stan Shealy said of the twin projects. Work on the $13 million industrial park’s infrastructure could begin as early as the third quarter of this year, with a road completed in the next 18 months, said County Council Vice Chairman Johnny Jeffcoat, who heads the council’s economic development committee.

READ MORE HERE

Categories : Columbia
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May
29

Charleston Apartments Sold for $27.2 Million

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Trade Street Residential Inc. has completed the acquisition of two communities that total 500 apartment units for a total purchase price of $63 million. The properties include Woodfield St. James, a 244-unit asset in Charleston ($27.2 million), and Woodfield Creekstone, a 256-unit community in Durham ($35.8 million).

Woodfield St. James was built in 2009, is currently 98 percent occupied, and has an average monthly effective rent of $901 per unit. Trade Street intends to put mortgage financing on the property and has obtained a lender commitment for a $19 million 10-year first mortgage at a fixed rate of 3.75 percent with two years of interest only payments followed by principal and interest payments based on a 30-year amortization schedule thereafter.

Categories : Charleston
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May
29

Mixed Use Planned for Spartanburg CBD

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A Spartanburg developer has building plans for the parking lot across from City Hall and City Council members will likely approve an agreement to support the project at its meeting Tuesday.

Assistant City Manager Chris Story said staff has in discussions with Royce Camp, of Midtown Properties, LLC, for the last several weeks. Midtown Properties owns several downtown buildings and has experience with mixed-used development such as the Cantrell Wagon Building, which is now home to Carriage House Wines on the lower level and second-story apartments, according to a city memo.

Midtown has proposed a new building on the east side of Wall Street directly across Broad Street from City Hall. Midtown wants to purchase a portion of a city-owned parking lot, which would reduce the lot size from 21 to 16 spaces.

READ MORE HERE

Categories : Spartanburg
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May
28

Harris Teeter Center in Greensboro Sold

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Berkeley Capital Advisors is pleased to announce the sale of The Shoppes at Battleground North, a 66,486 SF retail center located in Greensboro, North Carolina. The  retail center is 86% occupied and is anchored by Harris Teeter. It was built in 2007

The Shoppes at Battleground North is a well established retail property located in Greensboro, North Carolina on the heavily trafficked Battleground Avenue. The property’s desirable location along the Battleground retail corridor serves Greensboro and several surrounding affluent residential communities. The shopping center is approximately 6.5 miles northwest of downtown Greensboro, and it sits in a growing area with attractive demographics. The estimated household income within a 5-mile radius is approximately $82,000. According to LoopNet, the asking rent for the vacanct space is $21/sf.

Rob Carter, Alex Quarrier and David Webb of Berkeley Capital Advisors arranged the transaction.

Categories : Greensboro
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May
28

Hillsborough, NC Retail Center Sold

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Ziff Properties, Inc.  has purchased the 38,253 square foot small-shop retail portion of the Hampton Pointe development located at 525 Hampton Pointe Blvd in Hillsborough, NC. The purchase price for this 81% occupied asset was $6 million and the sale also included a pad for up to 35,000 sf future retail development. The class A retail shops are shadow-anchored by both Walmart Supercenter and Home Depot. Tribek Properties, the seller and master developer of Hampton Pointe, began incrementally developing the property in 2004. Hampton Pointe is located directly off the I-85 and Highway 86 and boasts an impressive list of national tenants including Sally Beauty Supply, Great Clips, Papa John’s Pizza, Verizon Wireless, Boost Mobile, and Subway.

Ziff Properties was self-represented by Christian Chamblee and Michael Pigg with Andrew Margulies of Marcus & Millichap representing the seller.

 

Categories : Durham
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May
23

Dream Comes True – Again – in SC

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Less than one full year after rolling out its first aircraft at its assembly plant in North Charleston, S.C., Boeing announced April 9 that it will invest $1 billion and create 2,000 new jobs over eight years at its manufacturing complex for the 787 Dreamliner.

“Boeing is now part of the fabric of South Carolina,” said South Carolina Gov. Nikki Haley upon the occasion. “So this is family and when family does well, we all get excited.”

The work force of South Carolina is the most important member of that family, according to Jack Jones, vice president and general manager of Boeing South Carolina.

READ MORE HERE

Categories : Charleston
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May
22

Fort Mill NNN Industrial Building Sold for $25 Million

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Cushman & Wakefield | Thalhimer represented The Keith Corporation in the sale of the recently completed Britax building, a 478,400-square foot, Class A industrial build-to-suit located at 4140 Pleasant Road, Fort Mill, SC 29708.

S&F Acquisitions, Inc. of Boca Raton, Florida purchased the 100% leased building for $25,000,000, or $52.26/sf. The capitalization rate was not reported.

The Keith Corporation was represented by Cushman & Wakefield | Thalhimer’s Capital Markets team of Chris Norvell and Scot Humphrey in conjunction with Cushman & Wakefield’s Industrial Advisory Group members Stewart Calhoun, Jim Carpenter and Mike Davis.

Categories : Charlotte, Rock Hill
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May
22

ULI Members: Tour the New Greenville VA Building

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The new $30 million, 77,000 square foot Upstate Veterans Administration Out Patient Clinic (VA OPC), will be opening this summer. The building is designed to be certified as LEED Silver, however, they are currently tracking LEED gold. ULI is offering a members-only tour of this facility on Thursday May 30th.

Join us as Rich Boggan with the Veteran Affairs leads us on a tour of the new facility. We will also hear from the developer, Hughes Development Corporation; Architect, DesignStrategies; and the Contractor Brasfield & Gorrie. We will look at the process of bidding on a government contracted building as well as answer any specific questions about the structure.

This is a members-only event, and I look forward to attending. Please sign up here ULI SC

Michael Dodds, MAI, CCIM

Categories : Greenville
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May
22

Which Developer Will Get Charleston’s Horizon Project?

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Almost 10 months after issuing a request for proposals, the Horizon Project Foundation board will meet today to potentially pick a firm to oversee a proposed $1 billion redevelopment on the Charleston peninsula’s west side.

The choice is between Greenville-based Hughes Development Corp. and Atlanta-based Gateway Development Services Inc.

The board’s selection committee ranked the two finalists at a meeting Friday. Michael Maher, director of the city’s Civic Design Center and chairman of the Horizon selection committee, wouldn’t say which the panel favored.

He did say Tuesday that the board is likely go along with the selection committee’s recommendation and authorize its operations committee to begin negotiating with that first pick.

READ MORE HERE

Categories : Charleston
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May
21

York County Approves Knights Stadium Sale

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Charlotte Knights Stadium in Fort Mill will officially be changing hands after the first of the year.

York County Council Monday gave the green light to a plan to sell the 32-acre facility to the Cato Corporation which has already purchased 250 acres surrounding the site with plans for a future development.

York County Economic Development Director Mark Farris is pleased with the plan to sell the last bit of land after the Knights’ $1 per-year lease ends December 31.

READ MORE HERE

Categories : Charlotte, Rock Hill
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May
21

Anderson Industrial Property Sold for $7 Million

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Moline, Ill.-based McLaughlin Body Co. has acquired the 427,337-square-foot Santens of America facility at 5121 Old Pearman Dairy Road in Anderson for $7 million. The industrial property is situated on 93 acres and will serve as McLaughlin Body Co.’s new subsidiary location to serve their clients in the region. The company manufactures operator protection systems, including cab enclosures and metal components for construction, military, agriculture and other heavy-duty vehicles.

Charles Whitmire Jr. and Elliott Fayssoux of Cushman & Wakefield | Thalhimer represented the seller, KBC Anderson Associates, in the transaction.

Categories : Anderson
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May
17

Greenville Apartments Sold for $56,875/unit

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Greenville-based Graycliff Capital has purchased the Azalea Hills Suites at Verdae apartment complex for $9.1 million.

The capital investment group purchased the 160-unit extended stay complex and leased 10 acres where it is located at 1600 Azalea Hills Drive. The property will operate under the ownership name of Azalea Hill Apartments L.P.

Ballard Cos., operating as Verdae Partners Ltd. of Montgomery, Ala., sold the apartments, including the land transaction from Verdae Properties LLC, a statement said Thursday.

READ MORE HERE

Categories : Greenville
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May
17

Hendersonville’s Residences at Chadwick Square Sold

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NAI Earle Furman announces the sale of Residences at Chadwick Square in Hendersonville, North Carolina. Tony Bonitati, Kay Hill, and Gwinna Cahal of NAI Earle Furman’s Multifamily Division represented the buyer, Oak Island LP, in the transaction. The sales price was not disclosed.

Built in 2003, the 67-unit residential community at Chadwick Square has many unique features that are not found at other apartment properties in the Hendersonville area. The seven buildings and pool house are surrounded by a beautiful natural landscape including an active creek on three sides of its perimeter. Many of the studio, one, two and three bedroom units have wood burning fireplaces and garages as well as individual washer/dryers.

Vista Capital Management Group out of Greenville was retained for future management of the property and will be exploring the latest techniques for using social media and online services for tenant support.

 

Categories : Hendersonville
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May
17

Fort Mill Delays Vote on 1,000 Home Development

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Fort Mill Town Council delayed a vote Monday night on a proposed 1,000-home development, as members and project planners await more information on the potential impact of local roads.

Two annexation ordinances came to Council at its May 13 meeting for Waterside on the Catawba, which if approved will be located on 470 acres between Whites Road, off Doby’s Bridge Road, and the Catawba River. All but four parcels within the development would need annexation into town limits. With more annexations coming than the two appearing Monday night, town planning staff requested that Council defer the issue to June 10 when all petitions could come together.

There also will be a public hearing on the annexations that night.

Lennar Homes would build the project. Kevin Granelli represented the company Monday night. Included in Waterside would be homes ranging from the low $200s to the $400s, he said. There also are a little more than five acres for public use. Shown as an option were a soccer and baseball field with parking. Pocket parks would be located throughout, Granelli said.

READ MORE HERE

Categories : Rock Hill
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