Archive for March, 2017

Mar
13

Cushman & Wakefield | Thalhimer Reports Lease Transactions

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CW ThalhimerAFL Telecommunications renewed its lease of 96,400 square feet of industrial space at 260 Parkway East in Duncan, SC. Brian Young, CCIM, SIOR with Cushman & Wakefield | Thalhimer, along with Chris Robinson with Fischer Company, handled the lease negotiations on behalf of the tenant.

Walmart leased 50,000 square feet of industrial space at 2819 Wade Hampton Blvd. in Taylors, SC. Brian Young, CCIM, SIOR handled the lease negotiations on behalf of the landlord.

1st Light Energy leased 1,200 square feet at 1435 Rutherford Rd., Greenville, SC. Rachel Veltri handled the lease negotiations on behalf of the tenant.

Categories : Greenville
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Mar
13

Coldwell Banker Commercial Caine Announces Sales

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cbcc-logoGreenville: Pete Brett, CCIM, David Sigmon, CCIM and Matt Vanvick of Coldwell Banker Commercial Caine represented Kellett Properties, LLC (Seller) in the sale of a +11,628 SF industrial facility on +2.96 acres at 201 Beverly Road, to Ferguson Builders, LLC (Purchaser).

Greenville: Rick Cauthen, P.E. of Coldwell Banker Commercial Caine represented Four Seasons Properties, LLC (Seller) in the sale of +2.12 acres at 6 McPrice Ct., to Parador Investments, LLC (Purchaser).

Taylors: Robert Zimmerman of Coldwell Banker Commercial Caine represented Wade Hampton Plaza, LLC (Seller) in the sale of a +44,274 SF retail shopping center on +3.2 acres at 2830 Wade Hampton Blvd., to JDG Properties, LLC (Purchaser).

Greer: Graham Howle and Lakin Parr of Coldwell Banker Commercial Caine represented Ben F. Killingsworth, Sr. (Seller) in the sale of a +2,450 SF retail building on +0.6 acre at 102 Park Ave., to Timothy A. Freeman (Purchaser).

Greer: Tim Satterfield of Coldwell Banker Commercial Caine represented Virginia Sue Suddeth (Seller) in the sale of +7.1 acres at 871 Victor Hill Rd., to Plastic Omnium Auto Exterior, LLC (Purchaser).

Spartanburg: Tim Satterfield of Coldwell Banker Commercial Caine represented Wiuka Co., LLC (Purchaser) in the purchase of a +1,684 SF residential duplex on +0.37 acre at 123 Canterbury Rd., from Jolyn P. Lewis (Seller).

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Mar
13

See This and Feel Better About the Weather at Your House

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Frozen! The effects of heavy wind this week along Lake Ontario.

ice house

Categories : Humor
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Mar
07

New Grocery Stores Headed to Augusta

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groceries3Just a little over a week after the closure of Whole Foods Market and days after the 15th Street Kroger cleared its shelves, two grocery chains have announced plans to plant roots in Augusta.

Sprouts Farmers Market, an Arizona-based healthy living supermarket will be the anchor tenant in the proposed Crane Creek shopping center at the corner of Interstate 20 and Walton Way Extension, just across the interstate from the Augusta Exchange shopping center. That area has been without a full-service grocery store since the closing of Winn-Dixie in 2005.

The other new supermarket, which is slated to occupy 3034 Peach Orchard Road, is a brand that’s more familiar to the Augusta area: Aldi.

The German-based discount grocer has filed plans with Richmond County to build on the site formerly occupied by the Ryan’s buffet restaurant, which closed last year.

READ MORE HERE

 

Categories : Augusta
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Mar
06

Coldwell Banker Commercial Atlantic Announces Transactions

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CBC atlanticGoose Creek – Brent Case, CCIM and Aaron Rowley of Coldwell Banker Commercial Atlantic represented the Buyer, Prescott Way, LLC, in the purchase of a 2.1 acre parcel for $595,000. This site will be developed into a multi-story, climate controlled self-storage space at 101 Prescott Way in Goose Creek, SC. Will Sherrod of Lee & Associates represented the Seller.

Goose Creek – Zach Wade of Coldwell Banker Commercial Atlantic represented the Landlord, 1218 Redbank LLC, and the tenant, Brothers Tire Shops LLC, in the lease of a 1,000-square-foot retail space at 1218 Redbank Rd, Unit 7, in Goose Creek, SC.

Charleston – Kristen Corri Krause of Coldwell Banker Commercial Atlantic Intl. / Historic District Real Estate represented the Tenant, Phislabs, in the lease of a 22,000-square-foot office space at 1505 Monrovia St. in Charleston SC.

Mount Pleasant – Brent Case, CCIM of Coldwell Banker Commercial Atlantic represented the Tenant, Honest 1 Auto, in the lease of a 7,813-square-foot auto shop/warehouse at 1406 BEn Sawyer Blvd. in Mount Pleasant, SC. Carmichael Harrison of The Beach Company represented the Landlord.

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Mar
06

Lower Vacancy Rates Expected in Upstate Office Market

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chart downDue to completion of new Class A office space not expected until later in 2018, office market researchers expect the Upstate office market to see lower vacancy rates across most of the market.

In the fourth quarter of 2016, the absorption in the Greenville downtown office market was over 200,000 square feet, marking the second time during the year the absorption hit that mark, according to a report prepared by CBRE. Additionally, vacancy in the market is close to a record low.

Combine that with cap rates getting tighter in larger markets and researchers suggest a future where investors actively enter the Upstate market in search of inventory.

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Categories : Greenville
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Mar
06

Is Columbia Becoming an 18-Hour District?

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Skyline of downtown Columbia, South Carolina from above Jarvis Kaplan Blvd.

Skyline of downtown Columbia, South Carolina from above Jarvis Kaplan Blvd.

Columbia’s Main Street is becoming an “18-hour district” because of the growing number of dining, entertainment, cultural and residential opportunities, according to a report released Friday by Colliers International.

“A resurgence in the downtown area as a place to live, work and play is creating a vibrant, eclectic Main Street,” the report said. “Higher residential density, new anchors and the expansion of entertainment and cultural venues are all drivers increasing interest in urban retail to serve the area. In turn, this has inspired a wave” of retail redevelopment.

Here are highlights from the report:

Residential Growth

A “recent boom” in the number of residents downtown has been driven by new housing complexes for students and young professionals. Millennials and young professionals are moving from the suburbs to downtown, the report said, “where they can live, work and play near their home.”

READ MORE HERE

Categories : Columbia
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Mar
06

WestRock Sells 4,000-Acre Tract

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sold_stamp redNorth America Sekisui House LLC, a subsidiary of Japan’s largest homebuilder, bought the expansive tract Friday within the growing Nexton community near Interstate 26 and U.S. Highway 17A, according to a joint statement from the buyer and seller. The price was not disclosed.

San Diego-based American Newland Communities, the new owner’s partner, will develop the site.

Almost all of the tract — 3,600 acres stretching from I-26 to U.S. Highway 176 — is slated for new homes. About 400 acres will be set aside for commercial development. Some of the tract is made up of wetlands.

The project is a first in the Charleston region for the owner and developer.

“We selected NASH and Newland Communities because we are confident that they will follow through with our plans for Nexton as they were originally conceived,” said Ken Seeger, president of WestRock Land and Development, the Summerville-based division of paper giant WestRock Co. “We look forward to working beside them on the properties we are continuing to develop.”

READ MORE HERE

 

Categories : Charleston, Summerville
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Mar
06

Could You Live in a 78 Square Foot Apartment?

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Categories : Humor
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Mar
01

Two Student Housing Developments in the Carolinas Sold

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college housingARA Newmark has arranged two sales of student housing assets near the University of South Carolina and the University of North Carolina at Greensboro.

The sales totaled more than $50 million. In the first transaction, Pittsburgh-based Campus First Student Living purchased The Club at Carolina Stadium in Columbia from Aspen Square Management for $30.5 million. Situated directly across from Carolina Stadium, the 240-unit, 486-bed asset was fully occupied at the time of sale.

In the second deal, Shanghai-based private equity fund OC Ventures and operating partner SkyeCroft Realty purchased Sterling Cottages at West End in Greensboro from Houston-based The Dinerstein Cos. for an undisclosed price. Built in 2011, the 176-unit, 600-bed asset was 93 percent occupied at the time of sale. Ryan Lang of ARA Newmark’s Student Housing group in Austin, Texas, represented the sellers in both transactions.

Categories : Columbia, Greensboro
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Mar
01

Festiva Nabs Myrtle Beach Resort Golf Course

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golf soldFestiva Real Estate Holdings acquired Wachesaw Plantation East golf course in a transaction that includes the East Grill and Pub. Patton Hospitality Management (PHM), a resort management company based in Asheville, N.C., which currently manages the Ellington resort operations, will also be the management entity for the golf course and the grill. The asset traded for an undisclosed amount.

Located at 911 Riverwood Drive, just off Highway 17, on the site of a former rice plantation in Murrells Inlet, the Wachesaw Plantation East golf course is 20 minutes south of the Myrtle Beach International Airport. The facility is part of Ellington at Wachesaw Plantation East resort. Currently, PHM manages the resort, but the firm will also manage Festiva Real Estate Holdings’ new acquisition.

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Categories : Myrtle Beach
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Mar
01

Two Hotels on Charleston’s Ashley River Sold

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two soldAn Upstate hospitality company has strengthened its foothold along the lower Ashley River by acquiring two more Marriott-flagged properties in the area.

Greenville-based JHM Hotels said this week it has purchased the SpringHill Suites and the neighboring Residence Inn at Ripley Point, just across from the peninsula.

The sale prices were not immediately available. The two properties have a combined 242 guest suites.

The sellers were affiliates of Oxford Capital Group, which owned the Charleston hotels for a decade. The Chicago-based real estate investment firm bought them as part of its $70 million portfolio purchase of six Marriott lodgings in South Carolina and North Carolina in 2007.

READ MORE HERE

 

Categories : Charleston
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