Archive for December, 2017

Dec
15

HFF Sells 232,000 SF Charlotte Industrial Property

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6100 HarrisHolliday Fenoglio Fowler, L.P. has announced the sale of a 232,000-square-foot, Class A, fully occupied distribution warehouse at 6100 Harris Technology Boulevard in Charlotte, North Carolina.

The HFF team represented the seller, Sun Life Financial / Bentall Kennedy. Hartz Mountain Industries, Inc. purchased the asset.

The front-load distribution warehouse has been institutionally owned and maintained since it was completed in 1994 and features 24-foot clear heights, truck courts up to 170 feet, 34 loading doors and an ESFR sprinkler system. Additionally, the multi-tenant building is fully leased to three tenants, including Iron Mountain, which accounts for 72 percent of the building’s square footage. Situated on 14.36 acres within Northwoods Business Park along the Interstate 77 corridor in Charlotte’s North submarket, 6100 Harris Technology Boulevard is in a last-mile location that is approximately 10 miles from Uptown Charlotte, the area’s largest commercial hub. The property has distribution capabilities via Interstate 77, one of Charlotte’s main north-south arteries, that provides access to major transportation thoroughfares, including Interstates 40, 485 and 85, which is considered the “industrial backbone” of the Southeast.

The HFF investment advisory team representing the seller consisted of senior managing directors Chris Norvell and Ryan Clutter and director Patrick Nally.

Categories : Charlotte
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Dec
14

Columbia Flex Buildings Sold for $43.64/SF

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soldNAI Avant has announced the investment sale of two flex buildings totaling 25,200 square feet in the Rioux Professional Park located at 161 Pontiac Business Center Drive in Columbia, SC. Senior Investment Broker Dail Longaker represented the seller in this transaction.

The property sits on a 8.42 acre site and is conveniently situated just off the I-20 and Spears Creek Road interchange.

The property was purchased by HVP3 Development LLC for $1,100,000 ($43.64 per square foot).

Categories : Columbia
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Dec
11

Columbia Apartment Occupancy at 95%

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real data LogoAccording to Real Data, the occupancy rate for the Columbia metropolitan area is improving due to increased demand and minimal new supply added during the past six months. The occupancy rate is now 95%. There are six communities currently under-construction in the Columbia area, most of which will complete construction during 2018. Only one community started construction over the past six months.

The current average monthly rent increased by 2.8% or $27.48 over the past twelve months. Demand is expected to exceed new supply over the next twelve months, which will allow the vacancy rate to remain in the 5% range. Rental rates are expected to increase during 2018.

Categories : Columbia
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Dec
11

Crown Bay Group Acquires Columbia Apartments

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Lake ShoreAtlanta based Crown Bay Group LLC and its partner Vantage Capital Group has announced their acquisition of Lake Shore Village Apartments in Columbia, SC. The property was recently annexed into the City of Columbia boundary.

The garden style property is located on Garners Ferry Road, a major south-east artery which enjoys a highly accessible location with frontage on Garners Ferry, just minutes from I-77 (1.25 mi.). It is comprised of 280 units spread over 23 acres, that also includes a beautiful lake frontage. The new owners intend to complete a full deferred maintenance program including new roofs. Other improvements will include an interior upgrade package with new modern lighting, flooring, kitchen cabinets and black appliances that will take place over the next 24 months. In addition to renovating the units, a washer-dryer rental program will be put in place and a large outdoor tenant amenity area will be created to include a new playground, barbeque/picnic area and pavilion with the goal of upgrading Lake Shore’s image to attract tenants and increase occupancy.

 

The property will be managed by Crown Bay Management, a subsidiary of Crown Bay Group.

Categories : Columbia
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Dec
11

Joyner Commercial Announces Transactions

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joyner commercialJoyner Commercial, the Commercial Division of Berkshire Hathaway HomeServices C. Dan Joyner Realtors®, has announced the following transactions completed by its team of commercial real estate professionals.

Matt Carter, CCIM and Craig Leduc represented the Seller, in the sale of a 15,000±SF office building at 135 Edinburg Ct in Greenville, SC to MB4 midtown LLC.

Joe Teague and Hays Reynolds represented the landlord in a lease, 900± SF office suite to Creative Engineers at 330 Pelham Rd Suite 102 Greenville, SC

Joe Teague represented the landlord, in a lease of retail space of 1,500±SF at 1791 Woodruff Rd Suite B to Local Map Co. in Greenville, SC.

Bryon Culbertson represented the owner, OHI Assets in a sale of 9,000± medical building at 721 W. Curtis St Simpsonville, SC to Lakefield Properties LLC.

Michael Joseph represented the buyer, Mr. Simmons in a sale of industrial land at 301 Woodruff Rd in Greenville, SC.

Nelson Garrison represented the seller and buyer of a 1.4 acres lot with a flex building for use of Terminix Services at 3608 Fernandina Rd Columbia SC.

Bryon Culbertson represented the Tenant CCFT Rapid Ready LLC in a lease of 1,200± office space at 413 Vardry St Suite 7 in Greenville, SC.

Wayne Smith represented the Tenant Units Mobile Storage of Greenville LLC in a 16,000±SF office building Lease at 308 Pennsylvania Ave Greer, SC.

Greg Huff represented the owner in a sale of a 3,750±SF brick building at 523 Sulphur Springs Rd in Greenville, SC to LaMesa Del Padre Church.

Bryon Culbertson represented the Landlord NV LLC and Tenant ProConsultants of a lease of 2,270± SF office space at 213 Bulter Rd Suite D in Mauldin, SC

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