Archive for September, 2018

Sep
19

Norvell Real Estate Group Announces Transactions

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norvell logoFrank Norvell, SIOR represented the seller, RCF Ashley Center, LLC in the $16,900,000 sale of Ashley Center, a 70,0000 SF Class A office building located at 4401 Belle Oaks Drive, N. Charleston. The buyer was represented by Chris Fraser of Avison Young.

Frank Norvell represented the Landlord, Pelham LP, in the 5,400 SF lease renewal of HF Services, Inc. at Bridgeport Center I, 210 Wingo Way, Mt. Pleasant. The tenant was represented by Charlie Carmody or CBRE.

Drayton Calmes represented Environment Resource Management in their 3,700 SF lease at Gateway Mount Pleasant office building.

Drayton Calmes represented the buyer, Benbrooke North Village, LLC in the $2,650,000 sale of North Village Shopping Center located at 6877 Dorchester Rd, N. Charleston. The seller was represented by Blair Belk and Trey Lucy of Belk | Lucy.

Drayton Calmes represented the Landlord, Benbrooke Creekside Partners, LLC in a 5,059 SF lease to Cirque Salon Studios at Creekside Shopping Center, 205 N. Goose Creek Blvd, Goose Creek, SC. Tenant was represented by Trey Lucy of Belk | Lucy.

Drayton Calmes represented the Landlord, Benbrooke Dorchester Partners, LLC in a 6,500 SF lease to Star Beauty at Evanston Plaza, 5335 Dorchester Rd, N. Charleston.

Categories : Charleston
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Sep
19

Avison Young Announces Greenville Transactions

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avison young logoAvison Young commercial real estate has announced the following transactions:

  • Rakan Draz and John Odom represented WFC Travelers Rest, LLC in the leasing of 1400 sf of retail space located at 2 Benton Road, Suite H in Greenville, South Carolina, to Retail Group Investment, LLC. Anthony Gaito of RealtyLink, LLC represented the Tenant.
  • Rakan Draz and John Odom represented Barmen, LLC in the leasing of 1,444 sf of retail space located at 220 East Coffee Street in Greenville, South Carolina, from Stone Family Properties.
Categories : Greenville
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Sep
19

Rock Hill Restaurant Sold by NAI Avant

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rockhill328NAI Avant has announced the sale of a ±7,390 SF restaurant located at 2124 Celanese Road in Rock Hill, SC. Senior broker Rob Lapin represented the seller, Land Holding, LLC in the transaction.

Doulaveris Holdings, Inc purchased the building for $575,000, or $77.81 per square foot.

The building is now listed as available for lease for $15.00 per square foot.

Categories : Rock Hill
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Sep
19

Summerville Self Storage Facility Sold

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summervillePublic Storage Inc., a self-storage real estate investment trust, has acquired Summerville Self Storage in Summerville, S.C. The property at 11055 Dorchester Road is 23 miles northwest of Charleston, S.C. Built in 2007, and expanded last year, it comprises 53,859 net rentable square feet of storage space in 405 units.

The seller was a partnership between an Austin, Texas-based private company and Absolute Storage Management (ASM), which owns and operates 105 self-storage facilities in 15 states. The buyer and the seller were represented in the transaction by Bill Bellomy and Michael Johnson, brokers with Bellomy & Co., a commercial real estate firm with offices in Austin and Houston.

Categories : Summerville
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Sep
13

Public Storage Acquires Summerville Self Storage

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self-storage3Public Storage Inc. has acquired Summerville Self Storage in Summerville, S.C. The property at 11055 Dorchester Road is 23 miles northwest of Charleston, S.C. Built in 2007 and expanded last year, it comprises 53,859 net rentable square feet of storage space in 405 units.

The seller was a partnership between an Austin, Texas-based private company and Absolute Storage Management (ASM), which owns and operates 105 self-storage facilities in 15 states. The buyer and the seller were represented in the transaction by Bill Bellomy and Michael Johnson, brokers with Bellomy & Co., a commercial real estate firm with offices in Austin and Houston.

Categories : Charleston, Summerville
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Sep
10

Why Hire Out-of-State Property Tax Consultants?

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appeal approvedI get that it is easier to deal with a single point of contact for property tax representation, but some of these national companies do a poor job on properties less than $1.5 million. I recently handled a successful appeal for a community bank and during my research discovered many other branch banks that are over-assessed. When I reached out to the real estate manager for a regional bank, I was told that a firm out of Dallas handles their property tax work. That firm probably does a decent job on the bank’s $40 million headquarters building, but they aren’t going to make the same effort on a 4,500 square foot suburban branch bank. They just aren’t. If you manage a bank’s real estate, I would welcome the opportunity to review your property list. I am very confident that I can reduce your property taxes.

Michael Dodds, MAI, CCIM   (803) 960-8783

Categories : Uncategorized
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Sep
09

Chester County Industrial Building Sold

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ecologyNewmark Grubb Wilson Kibler’s George McCutchen, CCIM, SIOR represented the seller in the recent sale of 23,911 square feet at 564 Ecology Ln. to ShayoNano USA, Inc. The 21.84-acre campus will house SayoNano’s new Chester county operations. The building has clear heights ranging from 42′ to 47′.

ShayoNano develops nanomaterials for use in various commercial applications, including paints and coatings, fire retardants and more. The company’s $14.7 million capital investment is projected to bring approximately 40 new jobs to the community.

“It brings tremendous satisfaction to help a company expand to South Carolina and create jobs, which increase the well-being of those workers, their families, and our whole state,” said McCutchen of the recent sale.

Categories : Chester
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Sep
04

New Looks, Uses for Old Augusta Mills

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Categories : Augusta
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Sep
04

City of Savannah Shedding More Real Estate

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downtown-historic-districtTwo city of Savannah-owned buildings will soon be back in the hands of private designers – one of those for the first time in decades.

With a 6-3 vote in favor, the Atlantic Coast Line building at 601 East Liberty, as well as the Thomas Gamble building right next to City Hall, were sold with a combined net value of just over $17 million. However, not all council members were on board with the sales.

The city approved the sale of the Liberty Street building during last week’s council meeting. The plan is to make it mixed-use, residential, and commercial street-level. The city bought the Atlantic Coast Line building back in 2015 for $3.5 million. Just over three years later, the majority of council approved the sale price of $5.9 million to developer, Standard Companies. This agenda item was the first up for debate, with those opposed stating their reasons why for the record.

READ MORE HERE

Categories : Savannah
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Sep
03

Florence Hotel Sold and Will be Renovated

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ramadaThe Ramada Inn on U.S. 52 near Interstate 95 has been sold to a new hospitality company, which will invest $1 million-plus into a two-phase renovation.

The hotel, which opened on 10 acres in the 1970s as a Holiday Inn, will become a Rodeway Inn & Suites and will then become a Clarion Inn & Suites by the end of the year, according to an announcement.

H&L Hospitality has signed a franchise agreement with Choice Hotels International. Gary Hodgins is the managing partner and Stephen Lam is the general partner of the new company.

The renovated hotel will feature 51 two-bedroom suites along with 20 standard king and 100 standard double-queen rooms for a total of 171 units. The renovation will include the reopening of the extensive restaurant, bar and banquet facilities.

READ MORE HERE

Categories : Florence
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