Archive for August, 2017

Aug
29

Home2 Suites by Hilton Rock Hill / Charlotte Sold

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RH home2 suitesNoble Investment Group has announced the acquisition of the Home2 Suites by Hilton Rock Hill | Charlotte. The contemporary, extended stay hotel opened in May 2017 in Rock Hill, South Carolina – a suburb of Charlotte.

The hotel location offers easy circulation to the greater I-77 corridor which links Rock Hill directly to downtown Charlotte. The hotel is within walking distance to numerous restaurants and shops, as well as popular attractions such as the Rock Hill Galleria Mall. The hotel is also convenient to Winthrop University, Historic Downtown Rock Hill and Piedmont Medical Center.

The Home2 Suites by Hilton Rock Hill | Charlotte features 105 studio and one-bedroom suites, each with a full kitchen, work space, storage area, and a living area with sleeper sofa. The hotel also offers complimentary breakfast, complimentary high-speed wireless internet access, a fully-equipped, 24-hour business center and flexible meeting space for small meetings or events. Guests can also enjoy a heated indoor saline swimming pool, outdoor patio with lounging and grill areas, and Home2 Suites innovative Spin2Cycle laundry and fitness facility.

Categories : Rock Hill
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Aug
29

Wells Fargo Securities Releases Lodging Report

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Click on the Report to access it.

WF lodging

Categories : National News
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Aug
29

Spartanburg Apartments Sold for $46,400/Unit

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serenity aptsElevation Financial Group, LLC, provider of affordable housing for seniors and families, is pleased to announce the disposition of Elevation Real Property Fund V asset, Serenity Apartments® at Spartanburg. The 152-unit multifamily community sold for a purchase price of $7.05 million, or $46,381/unit, and represents the first disposition for Elevation Real Property Fund V. The transaction was brokered by the Charlotte office of Capstone Apartment Advisors.

Elevation purchased the multifamily apartment community from the original developer in 2015 for $4.05 million, or $26,315/unit, and immediately initiated approximately $1 million in renovations. Upgrades included new windows, new roofs, renovated unit interiors, and rebranding of the entire property. Consisting of one-bedroom garden-style units, the property was totally transformed by the vigorous revitalization. Through the strong oversight of Elevation Property Management, the community stabilized and consistently maintained an occupancy level at or above 95%.

Categories : Spartanburg
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Aug
29

Charleston Self Storage Facility Sold

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folly rd ssThe sale of Folly Road Self Storage in Charleston, South Carolina was recorded on August 25, 2017. The property consisted of 303 storage units in 34,700 net rentable square feet plus 15 parking spaces for boats and RVs. The property is located at 1573 Folly Road in Charleston, South Carolina. The property was purchased by a private equity firm from Pennsylvania and will be managed by a third-party management company. The seller was an entity controlled by an individual from San Diego, California. The sale price was $4,686,500.

Bill Alter of Rein & Grossoehme Commercial Real Estate represented the seller in the transaction.

Categories : Charleston
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Aug
29

NAI Avant Brokers Columbia Medical Building

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soldNAI Avant is pleased to announce the sale of 126 Professional Park Road, a ±2,900 square foot office building in Columbia, South Carolina.

Senior brokers Nick Stomski, SIOR and Dick Stanland, CCIM, SIOR represented the seller, DWB Professional Park. The building was purchased by Dr. Isiah Davis, Senior for $550,000.

Categories : Columbia
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Aug
29

Lexington Retail Building Brokered by Coldwell Banker Commercial NRT

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CB Commercial NRTScott Davis, CCIM, with Coldwell Banker Commercial NRT negotiated the sale of the Momma Rabbits / Anytime Fitness building located in McCauley Square in Lexington, SC to the parent company of Momma Rabbits Nibbles and Sips Restaurant.

The building was built in 2006 and is one of seven buildings in the McCauley Square development. Notable businesses in this retail center include Sunset Children’s Dentistry, ERA Wilder Realty and Travinia’s Italian Kitchen.

Momma Rabbit’s Nibbles and Sips is run by eight siblings and specializes in organically grown and locally sourced foods. The menu is an everything-made-from-scratch concept offering homemade original food with a healthy twist. They are open for lunch and dinner; they also offer catering and take out with a large selection of to-go dinners.

The sales price was $730,000. The seller was Arthur State Bank, and the buyer was Allen Family Properties, LLC.

Categories : Lexington
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Aug
29

60 New Public Parking Spaces Coming to Spartanburg CBD

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parking lotAbout 60 new public parking spaces are on their way to downtown Spartanburg.

Spartanburg City Council on Monday night unanimously approved bids for demolition of the buildings at 177 W. Broad Street and 100 S. Spring Street for use as future temporary parking lots.

A small parking lot between the two buildings holds 28 parking spots. Assistant City Manager Chris Story said the building demolition would allow for 60 new spaces to fit in the area.

“We should be able to get started within the next month,” said David Cook, city construction project manager.

Along with demolition of the buildings, the work bids included asbestos and lead paint removal.

READ MORE HERE

 

Categories : Spartanburg
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Aug
16

Wando Self Storage Facility Sold

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wando ssThe Extra Attic Self Storage in Wando (Charleston), South Carolina, was sold in August and commanded a sales price of over $100 per RSF.

Located on Clements Ferry Road just tenths of a mile from the proposed 9,000 acre development of Cainhoy Plantation, estimated to be home to 20,000 – 40,000 residents over the coming decades, the facility features 11 self storage buildings plus an office building, with 84,200 +/- RSF on approximately 6 acres. It offers climate units and traditional units, plus parking. There is also an onsite rental office with moving supplies, and a self serve Kiosk. Expansion can be accommodated onsite vertically.

Dale C. Eisenman, CCIM of Midcoast Properties, Inc., a leading self storage broker in the Southeast, represented the seller and had the listing to market the facility.

LINK TO LOOPNET LISTING

Categories : Charleston
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Aug
16

Avison Young Announces Transactions

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avison young logoRakan Draz and John Odom represented DHM-301 Haywood Road, LLC in the leasing of a 1,200 sf retail space located at 301 Haywood Road in Greenville, South Carolina, to XF Studio Salon, LLC.

Rakan Draz and John Odom represented Phillip C. Cahaly, Mark A. Cahaly and Clark P. Cahaly in the leasing of 1,100 sf of retail space located at 7530 White Horse Road in Greenville, South Carolina, to Kelley Contract Services, LLC.

Chris Fraser, CCIM, Tabitha Cooper and Rob Howell represented Black & Veatch Corporation in the lease extension of 5,706 sf of office space located at 201 Brookfield Parkway in Greenville, South Carolina, from ROC III Fairlead Brookfield Corporate Center Owner, LLC. Shelby Dodson of CBRE represented the Landlord.

Todd P. Garrett, CCIM, SIOR represented 756 St. Andrews Blvd. LLC in the lease extension of a 2,100 sf industrial space located at 7187 Bryhawke Circle, Suite 100 in North Charleston, South Carolina, to Custom Canvas of Charleston, Inc.

Todd P. Garrett CCIM, SIOR represented Palms Preferred Properties, LLC in the lease extension of 2,400 sf industrial space located at 4663 Franchise Street in North Charleston, South Carolina, to Rainbow International of Charleston.

David Mantek and Vitré Stephens represented the landlord, James Island Center LLC, in the lease extension of a 1,800 sf restaurant space located in James Island Center at 1739 Maybank Hwy in James Island, South Carolina, to Barberitos.

Todd P. Garrett, CCIM, SIOR & Tradd Varner represented Ed Sutton in the leasing of 1,000 sf industrial space located at 1921 Reynolds Avenue in North Charleston, South Carolina, to Art Forms & Theatre Concept, Inc.

Todd Garrett, SIOR, CCIM represented Skeet Ventures in the lease extension of 26,940 sf industrial space located at 2550 W 5th North Street in Summerville, South Carolina, from Delta Real Estate Investments, LLC. John Beam of Colliers International Charleston, LLC represented the Landlord.

David Mantek and Vitré Ravenel Stephens represented GB Associates Limited Partnership in the leasing of 1,600sf retail space located in Crowfield Plaza at 431 St. James Avenue, Suite L in Goose Creek, South Carolina, to The UPS Store. Eddie Pershin of Atlas Realty Group represented the Tenant.

Todd P. Garrett, CCIM, SIOR and Tradd Varner represented Traxler Littlejohn Enterprises, LLC in the leasing of a 1,900 sf industrial space located at 4208 Pace Street, Unit B, in North Charleston, South Carolina from Pace Street, LLC. Miles Martschink of CC&T Real Estate Services represented the Landlord.

Todd P. Garrett CCIM,SIOR represented 3614 Ashley Phosphate Road, LLC in the lease extension of 5,000sf of industrial space located at 3170 Stanton Court, Suite A in North Charleston, South Carolina, to Charleston Import Automotive.

Gregg Legerton represented the landlord, Tobias, LLC, in the leasing of a 4,500 sf medical office space located in 61West at 1483 Tobias Gadson Boulevard in Charleston, South Carolina to Roper St. Francis Physicians Network.

Gregg Legerton represented the landlord, Tobias, LLC, in the leasing of a 2,161 sf medical office space located in 61West at 1483 Tobias Gadson Boulevard in Charleston, South Carolina to Head Dental Associates, LLC.

Jeremy Willits represented the landlord, 5900 Core Avenue, LLC in the lease extension of a 10,763 sf office space located at 5900 Core Avenue in North Charleston, South Carolina to DEA.

Gregg Legerton represented the landlord, Tobias, LLC, in the lease of a 1,312 sf medical office space located in 61West at 1483 Tobias Gadson Boulevard in Charleston, South Carolina to Charleston Hand Therapy Center.

Todd P. Garrett CCIM, SIOR represented Palms Preferred Properties, LLC in the lease extension of 2,00sf industrial space located at 4663 Franchise Street, Suite 105 in North Charleston, South Carolina, to Palmetto Furniture Solutions, Inc.

Todd P. Garret CCIM, SIOR represented Jeffry L. Combs & Traci B. Combs in the leasing of 10,500 sf industrial property located at 3209 Industry Drive in North Charleston, South Carolina, to Southern Current. Blair Belk of Belk Lucy represented the Tenant.

David Mantek & Vitre R. Stephens represented James Island Center LLC in the leasing of 7,491 sf of retail space located in James Island Center at 1739 Maybank Highway, Suite N, in James Island, South Carolina, to Pet Supermarket, Inc. Julie Gardner of Katz & Associates represented the Tenant.

Categories : Charleston, Greenville
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Aug
15

Coldwell Banker Commercial Caine Announces Transactions

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sold signsGreer:  Pete Brett, CCIM, David Sigmon, CCIM and Matt Vanvick of Coldwell Banker Commercial Caine represented Enigma Corporation (Seller) in the sale of +1.127 acres at 110 Sage Creek Way, to NV, LLC (Purchaser).

Greenville:  Pete Brett, CCIM, David Sigmon, CCIM and Matt Vanvick of Coldwell Banker Commercial Caine represented Brains on Fire Properties, LLC (Purchaser) in the purchase of a +5,330 SF office building on +0.12 acre at 1263 Pendleton St., from Mutual Home Store of Greenville, Inc. (Seller).

Spartanburg:  Tim Satterfield and Wiley North of Coldwell Banker Commercial Caine represented LeRhea R. Armstrong (Seller) in the sale of a +1,288 SF house on +1.07 acres for redevelopment at 2245 Southport Rd., to Jerome G. Bulman & Donald Bishop (Purchasers).

Spartanburg:  Tim Satterfield and Angela Halstead of Coldwell Banker Commercial Caine represented Charles N. Davis, Jr. and Susan D. Cantrell (Sellers) in the sale of a +1,900 SF retail building on +0.6 acre at 2850 E. Main St., to Burhan Abbas Raja (Purchaser).

Gaffney:  Tim Satterfield of Coldwell Banker Commercial Caine represented Sunny Hill Farms, Inc. (Seller) in the sale of +10.5 acres on Nancy Creek Rd., to Alfred Randall Moss & Arjana Ana Moss (Purchasers).

Leases

Greenville:  Robert Zimmerman of Coldwell Banker Commercial Caine represented Lever Studios, Inc. (Tenant) in the leasing of a +2,085 SF office space at 1320 Hampton Ave. Ext., Unit 4A, from Oceana Rapid, LLC (Landlord).

Greenville:  Matt Vanvick of Coldwell Banker Commercial Caine represented Hampton Doorway, LLC (Landlord) in the leasing of several small office suites at 217 E. Stone Ave. to The Art of Real Estate (Suites 31 & 33), Natural Glow Skincare (Suite 36), and Ali Waller Makeup & Skin (Suite 40) as Tenants. 

Greenville:  Pete Brett, CCIM, David Sigmon, CCIM and Matt Vanvick of Coldwell Banker Commercial Caine represented Mountain City Land and Improvement Co., LLC (Landlord) in the leasing of +6,158 SF of additional office space at INNOVATE, 148 River St., Suite 100, to Oobe Uniforms & Apparel, Inc. (Tenant).

Spartanburg:  Tim Satterfield of Coldwell Banker Commercial Caine represented Glorian Hayes (Landlord) in the leasing of a +2,500 SF retail/garage building at 18 Wells St., to Omar Davis (Tenant).

Spartanburg:  Tim Satterfield of Coldwell Banker Commercial Caine represented Mary Frances Poole (Landlord) in the leasing of a +16,250 SF industrial space at 140 Interstate Park Dr., to Cooks Power Equipment (Tenant).

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Aug
15

RADCO Acquires Charleston Apartment Community

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Woodbridge_ApartmentsThe RADCO Companies, one of the nation’s leading opportunistic real estate developers, completed its sixth acquisition of 2017 with the closing of Woodbridge Apartment Homes in Charleston, South Carolina. This is RADCO’s 72nd acquisition since 2011, its seventh community in South Carolina, and its second community in the Charleston market.

The 198-unit, Class B property has been renamed Radius at West Ashley. Radius at West Ashley will be proudly managed by RADCO Residential, the Company’s proprietary management platform.

Radius at West Ashley is favorably located in the heart of the West Ashley submarket of Charleston, just minutes away from downtown Charleston, College of Charleston, MUSC, and scenic South Carolina beaches. The community’s location and accessibility to major roads allows for an easy commute to the area’s major office facilities and employers, including Boeing.

READ MORE HERE

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Aug
15

Charleston’s Rivers Park Business Center Sold

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mmtcCushman & Wakefield announced today that it has negotiated the sale of Rivers Park Business Center, a 158,583-square-foot office building located in the rapidly growing and highly acclaimed Charleston market.

Cushman & Wakefield Managing Director Rob Cochran, Director Jared Londry and Associate Nolan Ashton represented the seller. The buyer, a joint venture between DRA Advisors and Mainstreet Capital Partners, acquired the fully leased, single-story office building.

The office building is located in an ideal location in North Charleston, SC. Rivers Park Business Center is highly regarded for its connectivity to the entire region, abundance of nearby housing options and seamless access to both Interstate 26, Interstate 526 and the Charleston International Airport. Additionally, the asset boasts an exceptional mix of tenants, including McKesson, the American National Red Cross, Miller Motte and Dial America Marketing, and all tenants have occupied space in Rivers Park since at least 2005.

“This rare offering attracted significant interest as one of only a few high-density office buildings in the Charleston market,” said Londry. “The stable tenancy at Rivers Park is a testament to the demand for a central location, large floor plates and an above market parking ratio of 6.0/1,000 RSF.”

Categories : Charleston
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Aug
15

Closed Myrtle Beach Golf Course Sold

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golf soldWedgefield Plantation Country Club in Georgetown, which has been closed for more than a year, has been purchased and the golf course could reopen as early as next spring.

Harry Karetas, 74, the owner for the past 28 years of Terminal Storage in North Myrtle Beach, and his wife, Yvonne, closed on the purchase Thursday from Paramont Capital of Phoenix, Ariz., which foreclosed on the property late in 2016.

Karetas said Monday that his purchase includes about 175 acres and he hopes to lease out the golf course, Manor House restaurant and bar, and an Olympic-size swimming pool – possibly each through three separate agreements.

“I do have a gentleman interested in leasing the golf course already and have another party that’s interested in leasing the swimming pool,” Karetas said. “We’ll just take it step by step, patiently, and try to get all the moving parts working for the same goal, which is to make the place productive again and entertaining for the public.

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Categories : Myrtle Beach
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Aug
04

RealOp Investments Acquires Office Assets in Greenville, SC

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realopRealOp Investments has announced the purchase of a suburban office portfolio consisting of three properties located along the I-385 corridor in Greenville, SC.

  • The three properties, located at 1 Marcus Drive, 1001 Keys Drive, and 770 Pelham Road, boast a total +/- 211,000 square feet and feature notable tenants, including: ECPI, AssetPoint, Cintas Corporation, Mustang Engineering, and Innervision.
  • Portfolio occupancy is approximately 50%
  • The portfolio was purchased for $13.875 Million and closed on July 21, 2017.
  • Office space within this portfolio is currently available from ±1,800 RSF – ±9,000 RSF, and offers a variety of benefits, including private office entrances, exterior tenant signage, convenient access, and plenty of parking.
Categories : Greenville
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Aug
04

Bluffton Shopping Center Sold

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blufftonLowcountry Village, which houses box stores such as Pier 1 Imports, Big Lots and Michael’s, was recently sold to an undisclosed California buyer for $22 million, according to Matthews Real Estate Investment Services.

The Bluffton shopping center has 14 tenants, including Ross Dress for Less and Cost Plus World Market. It was built in 2001 and sits between Tanger I and Tanger II.

Matthews Real Estate Investment Services arranged the sale of the 140,000-square-foot center for seller Real Properties of America Inc., a release states.

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