Archive for February, 2018

Feb
28

New Apartments Proposed for Bluffton

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mayewater“Wilkinson Way” in Bluffton doesn’t exist — yet.

But it’s a developer’s preferred and proposed street name that would lead to a yet-to-be constructed apartment complex off Bluffton Parkway, southwest of the intersection of Red Cedar Street.

The complex, dubbed Vantage Pointe Apartments at Bluffton Park, has been proposed by Bluffton Park Apartments, LLC and Bluffton Park D-2, LLC, both of which are registered to Realtor and developer David Staley, founder and president of Main Street Realty on Hilton Head Island. According to Town of Bluffton Planning Commission documents, the development — if approved — would be a “110-unit multi-family” complex.

The proposed street names — others include Crowder Court and Vantage Court — will be discussed at this week’s Bluffton Planning Commission meeting.

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Feb
28

Cantor Fitzgerald Acquires Fort Mill Office Building

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daimlerCantor Fitzgerald Investors, LLC has announced its purchase of the Daimler Building, a 150,164 square foot, Class A office building at 2477 Deerfield Drive in Fort Mill, South Carolina. CFI, together with a public, non-traded real estate investment trust it sponsors, acquired the asset for $40 million. Daimler Trucks North America has occupied the building since 2008 as the sole tenant and recently extended its lease through 2028.

The property is located in the Charlotte, North Carolina metro region and serves as the east coast operational hub for Daimler Trucks North America. Charlotte continues to be one of the most attractive, fastest growing markets in the United States, known for its high pay, low expenses and attractive quality of life.

Cushman & Wakefield Charlotte Managing Director Rob Cochran, Director Jared Londry and Associate Nolan Ashton, and Campbell Walker and Ridr Knowlton of Lincoln Harris represented the seller.

Categories : Charlotte, Rock Hill
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Feb
27

Second Inland Port Shows SC’s Logistics Prowess

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port craneThe South Carolina Ports Authority expects its second inland port, in Dillon, South Carolina, to open in April, a facility slated to support growing intermodal cargo volumes between the Port of Charleston and markets throughout the Carolinas, the Northeast, and the Midwest. The upcoming event will reflect South Carolina’s growth in logistics investments and freight movement.

SCPA first announced consideration of an inland port in Dillon in April of 2016, and that probably shouldn’t have come as a huge surprise, given the success of its first facility, Inland Port Greer, which opened in 2013. The Dillon announcement was followed in short order by a market studies, a proposed terminal layout and initial design phase, permitting and equipment requisition processes, and the award of construction contracts.

Inland ports have become increasingly important in managing the movement of containers to and from ocean ports. The idea is to transport container cargo by rail to an inland location, away from the port, for further processing and distribution. When it comes to exports, inland ports are used as staging areas for cargo containers making their way to ports. Besides mitigating port congestion, inland ports, because they promote the use of intermodal rail connections, represent a more environmentally friendly alternative to trucking containers to and from terminals. They also provide relief to beleaguered highway networks.

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Categories : Greenville
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Feb
27

Greenville Apartment Development Sold

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beacon ridgeCBRE Capital Markets facilitated the sale of Beacon Ridge Apartment Homes, a 144-unit value-add multifamily property at 5 Crystal Springs Road in Greenville. Located just off Interstate 385, less than two miles from Haywood Mall, the property is close to downtown Greenville and the Greenville Health System Patewood Medical Campus.

Philadelphia-based PRG Real Estate acquired Beacon Ridge. CBRE’s Kevin Kempf, Parker Yates, David Lansbury, and Phil Brosseau represented the seller, Charlotte-based Grubb Properties, in this transaction.

Built in 1988, the property is situated on 9.6 acres and was 96 percent occupied at the time of sale. Amenities include a 24-hour fitness center, expansive pool and sundeck, multiple grilling stations, clubhouse, business center, picnic areas, and dog park.

Categories : Greenville
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Feb
26

Spartanburg Assisted Living Facility to be Sold

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invernessA Spartanburg-based assisted living community is changing hands in a $10 million acquisition.

LTC Properties Inc., of California, announced this week that it’s entered into a real estate joint-venture relationship with an affiliate of Affinity Living Group to acquire The Inverness at Spartanburg, an 87-unit assisted living and memory care community, according to a statement from LTC.

The community will be operated by an affiliate of Hickory, N.C.-based Affinity Living Group under a triple-net lease.

Affinity, which operates 92 assisted living, memory care and independent living facilities in eight states, is a new operating partner for LTC, the statement said.

SOURCE

Categories : Spartanburg
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Feb
26

CCP Commercial Real Estate Acquires Charleston Building

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sold_stamp redCBRE Capital Markets facilitated the sale of Foxbank Industrial Park, a 201,500-square-foot manufacturing and distribution facility in Moncks Corner, just north of Charleston. Located at 2550 U.S. Highway 52 in Berkeley County, the property is home to anchor tenant Sea Fox Boats, the nation’s leading manufacturer of value-driven saltwater boats. CCP Commercial Real Estate acquired the property.

“Foxbank Industrial Park is located within a diversified and growing Charleston-area economy that includes tourism, automotive, aerospace and boat manufacturing, defense contracting, and the Port of Charleston-related commerce,” said Gildea, executive vice president at CBRE Capital Markets. “The investor appetite for industrial investment in the Charleston area is robust, with limited opportunities available in today’s market.

 

The functional manufacturing and distribution complex is situated on more than 30 acres and features 25-35 foot clear heights, 10,280 square feet of office space, ample power infrastructure, existing bridge cranes, 18 oversized ground-level doors, and an expansive outside storage area.

CBRE’s Patrick Gildea, Bob Barrineau, Brendan Redeyoff, and Matt Smith represented the seller, JL Woode, in this transaction.

Categories : Charleston
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Feb
23

Charleston’s Faber Plaza Office Building Sold

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Faber-PlazaTrinity Capital Advisors and Durlach Associates recently closed the sale of Faber Plaza at 4400 Leeds Avenue in Charleston, South Carolina, to a partnership including Hall Capital and Durlach Associates for $36.4 million. Trinity Capital and Durlach Associates developed the 125,822 SF Class-A building in 2015 in a joint-venture. CBRE’s Patrick Gildea, Matt Smith, and Charlie Carmody managed the asset disposition process on behalf of ownership.

Hall Capital is a family-owned private investment company with offices in Oklahoma City, Nashville, Chicago, Dallas, and Tulsa. The firm’s investment focus falls into four key areas: real estate, private equity, automotive, and oil & gas.

Faber Plaza is a five-story office building whose tenant roster includes Blue Cross Blue Shield, Paychex, Cummins, HDR, Sonepar, TranSystems, and TY Lin International. Building features include a spacious lobby with 12-foot ceilings, floor-to-ceiling windows, and outstanding park views. The column-free building features 25,000 SF floorplates that allow for maximum flexibility and design efficiency. Highly visible from Leeds Avenue, the building offers immediate access to Interstate 526 and Interstate 26 and is surrounded by more than 50 restaurants, 20 hotels and 12 banks.

Categories : Charleston
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Feb
23

Avison Young Announces Charleston Transactions

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Todd Garrett, CCIM, SIOR represented BPG SR Adults Trust Agreement in the leasing of 10,400 sf industrial building located at 3450 Buffalo Avenue in North Charleston, South Carolina, to Hydro Rents Carolina, Inc. Tradd Varner of Avison Young represented the Tenant.

Jeremy Willits and Gerry Schauer, CCIM represented the landlord, Three Broad Inc., in the lease extension of a 270 sf office space located at 3 Broad Street in Charleston, South Carolina to Keith Arnold.

Jeremy Willits and Gerry Schauer, CCIM represented the landlord, Long Point Center, LLC in the lease of a 6,650 sf office space located in Long Point Center at 503 Wando Park Boulevard in Mount Pleasant, South Carolina to The Prudential Insurance Company of America. Charles Carmody of CBRE represented the tenant.

Tradd Varner represented 1801 Reynolds, LLC in the purchase of a 7,173 sf freestanding multi-use building located at 1801 Reynolds Avenue in North Charleston, South Carolina, from Ternion, LLC for $400,000.

Todd P. Garrett, CCIM, SIOR represented 2652 Bonds Avenue, LLC in the lease extension of 3,850 sf of office/warehouse space located at 2652 Bonds Avenue in North Charleston, South Carolina, to Omni Services of SC, INC.

Todd P. Garrett, CCIM, SIOR represented 2652 Bonds Avenue, LLC in the lease extension of 1,500 sf of office/warehouse space located at 2652 Bonds Avenue in North Charleston, South Carolina, to Brahma Engineering, LLC.

Johnny Bevon, CCIM represented Blane Cowart in the purchase of 1.12 acres of land located at 2717 Dantzler Drive, North Charleston, South Carolina, from Dantzler Drive, LLC for $520,000. Louis Griffith of Joe Griffith, Inc. represented the Seller.

Todd P. Garrett CCIM, SIOR and Tradd Varner represented 756 St. Andrews Blvd, LLC in the lease extension of 2,100 sf of industrial space located at 7187 Bryhawke Circle in North Charleston, South Carolina, to Lennox National Account Services .

Tradd Varner & Nick Tanana represented Old Whaling Company, LLC in the leasing of 2,850 sf of industrial space located at 1727 Pineview Road (units A&B) in Charleston, South Carolina, from Harllee, LLC.

Jeremy Willits represented the tenant, DigitaliBiz, Inc., in the leasing of a 4,324 sf office space located at 4360 Corporate Road in North Charleston, South Carolina, from Life Cycle Engineering, Inc. Pete Harper of Lee and Associates represented the lessor.

Categories : Charleston
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Feb
22

Lowes Foods Coming to Mount Pleasant

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adamsThe long-awaited Lowes Foods-anchored shopping center on Highway 41 in Mount Pleasant is finally taking shape. Adams Property Group, LLC, in partnership with Armada Hoffler Properties, Inc., has closed on the purchase of the 16.34-acre site at the intersection of HWY 41 and Wood Park Drive and will commence construction immediately. According to Town of Mount Pleasant records, building permits were obtained by Armada Hoffler Construction in December to construct the 50,000 square foot grocery store along with approximately 24,000 square feet of retail shop space. The shopping center, known as the Market at Mill Creek, will also have a fueling station and three outparcels.

In 2015, Adams Property Group gained control of the site from its long time self-storage partner, Paul E. Walker of Carolina Self Storage Centers and Monster Self Storage, to pursue a retail development and shortly thereafter struck a deal with Lowes Foods.

Armada Hoffler Properties and Adams Property Group are excited to complete the construction of this first-class neighborhood retail shopping center with Lowes Food store opening expected in early 2019. Multiple leases for shop space have been executed including Marco’s Pizza, Agaves Cantina, Hwy 41 Wine and Spirits, Nail Club and Sea Island Urgent Care. Armada Hoffler Construction Company will be the General Contractor for the project and Adams Property Group will handle the property management and leasing efforts for the shopping center.

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Feb
21

Want to Retire in Margaritaville? You Can…..

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parrotheadLatitude Margaritaville Hilton Head’s sales center opening set a first-day attendance record, according to developers, who were surprised by the result.

“We actually beat our first-day attendance in (Hardeeville) over Daytona Beach,” said Bill Bullock, senior vice president at Minto Communities, who added that about 100 more people ventured to the Lowcountry site Saturday compared to October’s Latitude Margaritaville Daytona Beach, Fla., opening. “We couldn’t be happier,” he continued.

In total, about 850 people visited the Hardeeville sales center last weekend, including more than 600 on Saturday’s opening.

As of Tuesday morning, about 20 of the 190 first-phase lots in the planned 2,700-acre, 3,000-home community had been reserved with requisite $10,000 deposits, Bullock said. Customers can continue to reserve lots until March 10, when final contracts will be signed before construction begins. Deposits are refundable until a contract is signed.

READ MORE HERE

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Feb
21

Senior Living Facility Planned for Augusta Area

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elderly_peopleThe Columbia County Board of Commissioners approved rezoning of property that would allow the construction of a senior living facility behind Fatz Café in Evans.

Commissioners unanimously voted for the changes at their meeting Tuesday at the Evans Government Center.

The rezoning application was submitted in January by Development Associates, a Savannah firm specializing in commercial real-estate development.

The proposed development, called Oaks at Evans Town Park, is described in county documents as a “private, pay-assisted living and memory care community.” It will be owned by Development Associates but managed by Oaks Senior Living, an Alpharetta-based company that already operates nine similar senior facilities across Georgia.

READ MORE HERE

Categories : Augusta
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Feb
19

NAI Avant Leases Columbia Industrial Building

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leased-agreement-with-keysNAI Avant senior broker Nick Stomski, SIOR and Dick Stanland CCIM, SIOR recently represented the landlord, Shop Grove Warehouses, LLC, in the lease transaction of 199 Shop Grove Drive in Columbia, SC. Ansco & Associates will occupy ±16,770 square foot of the modernized distribution space.

This lease brings Shop Grove warehouses to 100% occupancy, merely 2 months after completing the third and final building. This project has set a new bar for the mid-tier warehouse space in the Columbia market. Exceptional building quality, 30’ clear heights, ESFR fire suppression systems, minimal columns throughout and a proven location have all attributed to the success of the park.

Categories : Columbia
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Feb
19

Get Your SCREnews Daily by Email

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Please follow the link on the right side of the web page to subscribe to receive a daily e-mail update. We update our website constantly and you will receive a summary of the new posts around lunch time each weekday. Our current e-mail subscriber list includes developers, mortgage bankers, municipal officials, attorneys, contractors, economic developers, appraisal reviewers and brokers.

 

Of course you can unsubscribe at any time, although we have only had five people unsubscribe since the site was started in March 2008. I assume that means that subscribers are finding it useful.Note: I do not use any ad tracking or the like, nor do I sell e-mail addresses to anyone!

Michael B. Dodds, MAI, CCIM, MRICS
Categories : SCREnews
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Feb
19

Flagship Properties Announces Transactions

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flagshipFlagship Properties has announced the following transactions:

  • Josh Tew and Caldwell Johnston, of Flagship Properties, represented the landlord in the office lease of 2,000 square feet to Everest Counseling Associates at 880 S. Pleasantburg Drive, Suite F.
  • Josh Tew, of Flagship Properties, represented the landlord in the flex-space lease of 5,200 square feet to Handeck Investments LLC, at 2421 New Easley Highway, Suites A and C.
  • Caldwell Johnston, of Flagship Properties, represented the landlord in the flex-space lease of 2,500 square feet to Flowerlina LLC, at 4013 Pelham Court in Greenville.

 

Categories : Uncategorized
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Feb
19

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.

  • Hope Tz Schmalzl represent the Buyer Ukoona LLC in a purchase of a 4,400/SF office building at 143 Commons Way for owner investment, in leasing an office.
  • Ernest A. Crosby represented the Seller in a sale of a 3,733/SF retail building located at 14 S Main St Mauldin, SC.
  • Matt Carter, CCIM & Steve Greer represented the landlord in a lease of 1,000/SF to Mussman Architect at 24 Vardry St Suite 301.
  • Micheal Joseph represented the Buyer in a purchase of warehouse distribution building at 9020 Fairforest Rd Spartanburg SC 29303.
  • Hope Tz Schmalzl represented the Landlord and Tenant in a lease of a1,250± SF retail space to Get Weird Smoke Shop in at 9 Victor St Unit H in Greenville, SC.
Categories : Greenville, Spartanburg
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