Archive for June, 2018

Jun
20

Charlotte Office Building Under Contract for $22.65 Million

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sd-office-perimeter-parkway-c7414630Agellan Commercial Real Estate Investment Trust announced today that a third-party purchaser has agreed to purchase the REIT’s approximately 118,500 square foot, five-story multi-tenant office building located at 10130 Perimeter Parkway in Charlotte, NC.

The sale price for this non-core asset of the REIT is approximately $22.65 million and represents an in-place capitalization rate of approximately 7.46%. The proceeds of the disposition are expected to be redeployed by the REIT for future acquisitions of industrial properties located in the United States.

The disposition is consistent with the REIT’s strategy of recycling capital by selling office assets that are no longer aligned with its core strategies in order to fund new industrial investment opportunities.

The sale is expected to close in July 2018 and is subject to certain conditions typical for transactions of this type (other than a due diligence condition which has been waived by the purchaser).

Categories : Charlotte
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Jun
20

What do Tire Manufacturers Look for in a Site?

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IRR TireDid you know that the tire manufacturing process is very sensitive to dust? Manufacturers like to have a buffer between the facility and an interstate and want to be in a low lying area with minimal wind. While appraising a manufacturing facility this week, I watched a tire be made in 52 seconds.

Categories : Uncategorized
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Jun
20

CBRE Executes 10,731 SF Lease in Lexington

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leased-agreement-with-keysCBRE has executed a 10,731-sq.-ft. lease at Southlake Center, a 42,000-sq.-ft. multi-tenant office building in the Lexington submarket of Columbia, SC.

CoCreate Lexington, a locally owned and operated coworking startup, will occupy the property at 714 South Lake Drive this summer to offer sharable office space, technology, and meeting rooms to the Columbia area business community.

Categories : Columbia, Lexington
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Jun
19

Greenville Apartment Occupancy up to 92.6%

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real data LogoAccording to Real Data, for the first time since 2015, apartment demand exceeded new supply for the Greenville metropolitan area. Occupancies were effected by this and increased to 92.6%. There are currently 1,491 units under-construction in the metropolitan area. Proposed units increased over the past six months. The current average monthly rent is $971.

Demand is forecasted to outpace new supply levels over the next twelve months allowing occupancies to improve. Rental rates will likely increase by 2.0% to 3.0% going into 2019.

Categories : Greenville
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Jun
06

Equestrian Facility Appraisals by Integra

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looking-down-stable-aisle-1280x640Did you know that the average 4 person polo team takes 30 to 40 ponies to each match? Therefore, the ideal stable at a polo facility has around 60 to 80 stalls.

Integra Realty Resources routinely appraises equestrian facilities in Aiken, SC, the second largest polo community in the U.S. and in Camden, SC, home to The Carolina Cup and The National Steeplechase Museum.  Please let me know if we can assist with your equestrian facility appraisal needs.  #equestrian #appraisal

Categories : Aiken, Camden, INTEGRA NEWS
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Jun
06

BB&T Spends $53 Million Charlotte Office Buildings

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two soldBB&T Corp. has spent nearly $53 million to purchase two Mecklenburg County Class A corporate office buildings, the latest moves in a recent acquisition initiative in North Carolina.

The bank spent $29.04 million to buy LakePointe Corporate Center One and $23.76 million to buy LakePointe Corporate Center Two. The sellers were Delaware-based affiliates of Charlotte commercial-real estate broker Childress Klein Properties Inc.

The purchase prices were listed in filings at the Mecklenburg County Register of Deeds filings. The sale closed May 16.

By comparison, Childress Klein and another investor spent $37.5 million to buy the One building in 2015.

READ MORE HERE

Categories : Charlotte
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Jun
06

Piggly Wiggly Footprint Expands in South Carolina

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piggly-wigglyMore former Southeastern Grocers supermarkets have gone to the Piggly Wiggly retail banner.

C&S Wholesale Grocers, owner and licensor of the Piggly Wiggly brand, said closed Bi-Lo stores in Ladson and Mullins, S.C., have been acquired by Lynn and Cindy Willard of Charleston, S.C.-based Lowcountry Grocers LLC, which operates nine Piggly Wiggly locations in South Carolina.

Financial terms of the transactions, which closed in mid-May, weren’t disclosed. C&S said the two stores were rebranded under the Piggly Wiggly name, and grand opening celebrations are slated to be held on June 6.

Lowcountry Grocers’ current Piggly Wiggly locations are in Florence (two), Georgetown, Hampton, Hanahan, Moncks Corner, North Charleston, St. George and Surfside Beach, S.C.

READ MORE HERE

Categories : South Carolina News
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