Archive for July, 2017

Jul
31

Irmo Shopping Center Sold

Posted by: | Comments Comments Off on Irmo Shopping Center Sold

irmo stationAtlanta-based Preferred Apartment Communities announced Thursday that it has acquired Irmo Station, a nearly 99,619-square-foot shopping center at 7467 St. Andrews Road. The shopping center is anchored by a 56,942-square-foot Kroger grocery store.

The facility was bought through Preferred Apartment’s Market Properties LLC.

The company financed the acquisition utilizing a non-recourse first mortgage loan from Nationwide Mutual Insurance Company. The first mortgage loan is approximately $10.65 million, bears interest at fixed rate of 3.94% per annum and matures on July 26, 2030. There are no loan guaranties provided by PAC or its operating partnership.

READ MORE HERE

Categories : Columbia
Comments Comments Off on Irmo Shopping Center Sold
Jul
31

C&W | Thalhimer Sells Spartanburg Industrial Buildings

Posted by: | Comments Comments Off on C&W | Thalhimer Sells Spartanburg Industrial Buildings

3001 N Blackstock AerialCushman & Wakefield | Thalhimer has announced the sale of 3001 N. Blackstock Road, Buildings 1 and 2, in Spartanburg, South Carolina.

Crimson Palmetto Holdings, LLC purchased two industrial buildings comprised of 342,838 square feet and situated on 39.25 acres from RT Blackstock Complex, LLC for $5,400,000. RDI-USA, Inc. has been a tenant for over 7 years and will continue their occupancy.

Brian J. Young, CCIM, SIOR and Lyn Norton of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the seller.

Comments Comments Off on C&W | Thalhimer Sells Spartanburg Industrial Buildings
Jul
31

Shop Road Industrial Building Sells for $2.3M

Posted by: | Comments Comments Off on Shop Road Industrial Building Sells for $2.3M

sold_sign_postcardTMC Transportation has paid $2.3 million to acquire the former Thermo King location on Shop Road to serve as a trucking terminal, according to the commercial real estate firm Newmark Wilson Kibler.

The purchase expands the Des Moines, Iowa-based, employee-owned open deck transportation company’s presence in the Midlands, the release added.

“TMC is excited to continue its growth and presence in the Southeast with this latest acquisition,” Jason Webb, executive vice president of asset management, said in a statement. “We look forward to beginning the development of a 44-acre, cutting-edge trucking terminal to support our fleet and train America’s best truck drivers.”

The location includes 17,000-square-foot building that was building in 1998 with 19-foot ceilings and 13 drive-in doors, according to a property flyer on the Wilson Kibler website.

SOURCE

 

Categories : Columbia
Comments Comments Off on Shop Road Industrial Building Sells for $2.3M
Jul
31

US Industrial Vacancy at Record Lows

Posted by: | Comments Comments Off on US Industrial Vacancy at Record Lows

percentage downThe growth of e-commerce and a steadily improving economy are driving demand for industrial space and helping push industrial vacancy to record-low levels, particularly near major population centers, according to the 2017 U.S. Industrial Midyear Outlook report from Marcus & Millichap.

“Vacancy rates on a national level have fallen to record lows while rent growth has accelerated to outpace all other commercial real estate property types, lifting performance metrics beyond expectations. While some port and intermodal hub markets will receive significant new supply that could dampen local performance, the e-commerce driven demand for urban last-mile warehouse space has sparked the need for more infill industrial space, particularly in major metropolitan areas,” Senior Vice President Alan Pontius, National Director, Specialty Divisions & John Chang, first vice president|Research Services, wrote in the report.

READ MORE HERE

Categories : National News
Comments Comments Off on US Industrial Vacancy at Record Lows
Jul
27

Where Does Integra Do Commercial Appraisals?

Posted by: | Comments Comments Off on Where Does Integra Do Commercial Appraisals?

While Integra Realty Resources has offices all over the United States and the Caribbean, the market coverage that Integra has in the Carolinas is unmatched. We have offices in Charlotte, Raleigh, Columbia, Greensboro and Charleston. To give you an idea of the markets that we have worked in, check out the map below. These are the appraisal assignments that our Carolinas appraisers have completed…..just so far this year.  Call me if I can assist with your appraisal needs in the Carolinas.

Carolinas assignments

Comments Comments Off on Where Does Integra Do Commercial Appraisals?
Jul
27

Augusta Named the South’s “Mid-Market of the Year”

Posted by: | Comments Comments Off on Augusta Named the South’s “Mid-Market of the Year”

southern businessSouthern Business & Development magazine has named Augusta to the South’s top honor as the best “Mid-Market of the Year” in 2017, according to the Augusta Economic Development Authority. In 2015, the magazine named Augusta as one of the “Ten Sizzling Mid-Market Economies” in the South.

Michael Randle, Publisher of Southern Business & Development, said, “Augusta garnered the top spot among all medium-sized economic development markets based on their strong recruitment efforts for new jobs and investments.” Randle continued, “Throughout the South, there are communities on the move, where cities’ economic growth and development are outpacing the rest of the country. Augusta is one of these cities, with the Augusta Economic Development Authority leading the way. Their overall ranking was impressive.”

In Randle’s state-by-state summaries, “It was a nice year for Georgia, with its highest point total in several years. A nice mix of industries and service projects. Augusta had a year like no other to win “Mid-Market of the Year”.

READ MORE HERE

Categories : Augusta
Comments Comments Off on Augusta Named the South’s “Mid-Market of the Year”
Jul
27

Newmark Wilson Kibler Releases Market Reports

Posted by: | Comments Comments Off on Newmark Wilson Kibler Releases Market Reports

NM wilson kiblerNewmark Wilson Kibler has released their quarterly reports for Industrial and Office, not only for Columbia, but also Greenville / Spartanburg, and Charleston.

Check them out HERE

Comments Comments Off on Newmark Wilson Kibler Releases Market Reports
Jul
19

Village Shops at Grande Dunes Sold

Posted by: | Comments Comments Off on Village Shops at Grande Dunes Sold

shoppes at grand dunesBerkeley Capital Advisors has announced the sale of Village Shops at Grande Dunes in Myrtle Beach, SC, a 69,600 square foot shopping center anchored by a Publix, Chipotle, and Starbucks.

Rob Carter, Alex Quarrier, David Webb, and Rad von Werssowetz of Berkeley Capital Advisors represented the sellers in this transaction.

LINK TO DRONE VIDEO TOUR

Categories : Myrtle Beach
Comments Comments Off on Village Shops at Grande Dunes Sold
Jul
19

Industrial Absorption Up in Upstate Market

Posted by: | Comments Comments Off on Industrial Absorption Up in Upstate Market

avison young logoYear-over-year industrial absorption in the Upstate climbed from 4% in the first quarter of 2016 to more than 9% in the first quarter of 2017, according to a report from Avison Young.

From the first quarter of 2016 to the first quarter of 2017, nearly 800,000 square feet of industrial space was completed in the market, but the amount of industrial space under construction has dropped to under 100,000 square feet during Q1 2017.

While absorption has risen over the last year, vacancy has remained steady at around 6.9% year over year.

“Vacancy rates have not changed significantly with the amount of new inventory coming to the market,” the report said.

The report noted that the region continued to see build-to-suit projects and the expansion of facilities already in place in the first quarter.

READ MORE HERE

Categories : Greenville, Spartanburg
Comments Comments Off on Industrial Absorption Up in Upstate Market
Jul
18

New Senior Housing Development Planned for James Island

Posted by: | Comments Comments Off on New Senior Housing Development Planned for James Island

elderly_peopleA joint venture between Alex Brown Realty Inc., Wakefield Capital and Affinity Living Group announced development plans for Indigo Hall, a 120,000-square-foot senior housing facility on James Island in Charleston, S.C. The Class A facility is scheduled for completion in June 2018.

Located at 509 Standard Way, Indigo Hall will offer 116 assisted living units and 40 memory care units as well as abundant community spaces. Planned property amenities include a bistro, movie theater, library and gym. The two-story community will accommodate both rehabilitation and therapy services. The property is four miles from the Medical University of South Carolina.

“There is unmet demand for Class A senior facilities in the Charleston area,” said Charles Trefzger, CEO of property manager Affinity Living Group, in prepared remarks. Indigo Hall will be one of the few senior housing options between affluent Kiawah Island and downtown Charleston.

Categories : Charleston
Comments Comments Off on New Senior Housing Development Planned for James Island
Jul
18

HFF Closes $16.25 Million Sale of Development Site in Raleigh

Posted by: | Comments Comments Off on HFF Closes $16.25 Million Sale of Development Site in Raleigh

hff logoHolliday Fenoglio Fowler, L.P. (HFF) has announced that it has closed the $16.25 million sale of an 18.82-acre parcel within the larger 51.32-acre St. Albans at Midtown development site near North Hills in Raleigh, North Carolina. Located at 900 St. Albans Drive, this is the third site closed from the St. Albans at Midtown offering.

HFF marketed the site on behalf of the seller, Wells Fargo Bank, acting as Trustee for a local family; and Henry Sink and Richard Williams, acting as Co-Trustees for another local family. DeWitt Carolinas Inc. (DeWitt) purchased the site, which is adjacent to DeWitt’s separately owned, 161,000-square-foot One Renaissance Center office building and accompanying land site.

The St. Albans at Midtown development site is situated less than one half of a mile from the terminus of North Hills, a growing area of Midtown Raleigh that has nearly 1.1 million square feet of office space, more than 1,800 multifamily units either completed or underway, and more than one million square feet of retail. The site at 900 St. Albans is located less than a half mile from Interstate 440 and, in addition to North Hills, is proximate to executive housing in North Raleigh, the tech hub of downtown Raleigh and Duke Raleigh Hospital. The new owner successfully rezoned the site in May 2017 to allow for development height between seven and 20 stories.

Categories : Raleigh
Comments Comments Off on HFF Closes $16.25 Million Sale of Development Site in Raleigh
Jul
18

Western North Carolina Real Estate Market Heats Up

Posted by: | Comments Comments Off on Western North Carolina Real Estate Market Heats Up

NC-MountainsThe entire Highlands-Cashiers Plateau in North Carolina has been drawing people there to get away or retire for generations. It’s a beautiful stretch, set in the Nantahala National Forest, with old growth trees meandering around the Blue Ridge Mountains, serene lakes, rushing streams and picturesque waterfalls.

Because of the higher elevation, the climate is considerably cooler than Atlanta. It’s easy to understand why many Atlantans head there to find a home, whether for full-time living, weekends, vacations or retirement. And that’s causing real estate in the Highlands-Cashiers Plateau to heat up.

“The Highlands-Cashiers market is strengthening since the 2008 adjustment,” said Jody Lovell, Broker/Owner of Highlands Sotheby’s International Realty. “In 2016, the market was up 8 percent in unit sales and 19 percent in volume. So far this year, the market is up 19 percent in unit sales and 12 percent in volume.”

READ MORE HERE

 

Categories : Asheville
Comments Comments Off on Western North Carolina Real Estate Market Heats Up
Jul
18

Florence May Get Downtown Grocery Store

Posted by: | Comments Comments Off on Florence May Get Downtown Grocery Store

Florence CBDThe city of Florence is backing an upcoming code-named development – “Project Leopard Orchid” – that will bring a $1.6 million investment to the downtown and surrounding areas.

Though officials didn’t give any specifics, city council documents indicate a project that will bring “quality, authentic grocery items and local produce” to a “store facility” to serve downtown, as well as the northern, northwestern and eastern parts of the city.

The Florence City Council approved a $300,000 incentive package for the project’s developers in order to facilitate the start-up, a common move by the city for downtown development projects.

“It’s a project designed to provide within the North Dargan Street and Darlington Street corridor,” Mayor Stephen J. Wukela said. “Obviously we’re aware of the needs in that area, and this investment meets all of our typical analysis for investment.”

READ MORE HERE

Categories : Florence
Comments Comments Off on Florence May Get Downtown Grocery Store