Author Archive

Jun
10

Avison Young Announces Charleston Transactions

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avison young logoTodd Garrett, CCIM, SIOR and Tradd Varner represented 756 St Andrews Blvd, LLC in the lease expansion of 4,200 sf industrial space located at 7187 Bryhawke Circle, Unit 200 & 300 in North Charleston, South Carolina, to SS Medical , Inc.

Todd Garrett, CCIM,SIOR and Tradd Varner represented 2652 Bonds Ave, LLC in the leasing of 1,500 sf industrial space located at 2652 Bonds Avenue, Ste 201 in North Charleston, South Carolina, to Charlestowne Stained Glass. Bryan Delgado of Roadstead Real Estate Advisors, LLC represented the Tenant.

Vitré Ravenel Stephens represented Mantek Properties, LLC, in the leasing of 1,580 sf of retail space located at 1379 Ashley River Road, Suite 200, in Charleston, South Carolina, to the Charleston County Democratic Party. Joseph Tecklenburg, of CC&T Real Estate, represented the Tenant.

Vitré Ravenel Stephens and David Mantek represented Folly Camp, LLC, in the leasing of 2,000 sf of retail space located at the Shoppes of Folly, at 915 Folly Road, Suite P, in Charleston, South Carolina, to Fit Body Boot Camp. Bryan Colombik of Catalyst Commercial Group represented the Tenant.

Categories : Charleston
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Jun
10

Spec Building Coming Near Dillon Inland Port

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Dillon SpecA new logistics center is coming to a location near Inland Port Dillon. Leasing has been assigned at a new 373,100-square-foot speculative industrial development called the 95 Inland Port Logistics Center. The center is located in Dillon County, located just one mile from Inland Port Dillon.

CBRE’s Bob Barrineau and Brendan Redeyoff, as well as Palmetto Commercial Real Estate’s Drew Chaplin, are spearheading leasing efforts at the property.

“Inland Port Dillon allows cargo owners to have increased flexibility and gain efficiency on their inland transportation expense,” Barrineau said. “We’re very excited to market the closest spec building to the Inland Port. The property’s strategic location and proximity to the Inland Port is going to generate substantial interest from importers and exporters taking advantage of direct access to the Port of Charleston via CSX rail, lower cost of empty containers, demurrage savings and reducing their carbon footprint.”

READ MORE HERE

Categories : Dillon
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Jun
10

Cushman & Wakefield | Thalhimer Opens Columbia Office

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CW ThalhimerCushman & Wakefield | Thalhimer has announced they have established an office in Columbia, SC, located at 1320 Main Street, Suite 300. Additionally, Spencer Green has joined the Columbia office as a vice president, and will focus on office and industrial sales and leasing in Thalhimer’s new office. Mr. Green comes to Thalhimer from Cushman & Wakefield’s Atlanta, Georgia office where he was a Director of the Logistics and Industrial Service Group, providing clients with strategic and creative transactional services including site selection, market research, financial analysis, leasing and purchasing new space, and selling excess space. Mr. Green has expertise with companies with a multi-market presence and a need for portfolio services, managing more than 100 locations for multi-market clients in the United States and Canada.

The Columbia office is Thalhimer’s third location in South Carolina. They opened offices in Charleston and Greenville in 2012 and have 13 brokerage professionals and 3 property management associates in those markets. Brian J. Young, CCIM, SIOR, Senior Vice President and Managing Broker of Thalhimer’s Greenville office, will oversee the Columbia market in addition to his Upstate responsibilities.

Spencer Green comments “I look forward to the opportunity to build on the momentum Cushman & Wakefield | Thalhimer is already having in the state of South Carolina and I am excited to bring a new approach and an iconic brand to the commercial real estate industry in Columbia.”

Categories : Columbia
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Jun
04

Two Self Storage Facilities in SC Sold

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Self Storage Tucson Arizona

Self Storage Tucson Arizona

Riverchase Self Storage located in Lexington, South Carolina and Summit Self Storage, located in North Augusta, South Carolina were sold to a national buyer in May.

Located approximately 60 miles from each other, the facilities feature a combined 1,310 self storage units, 490 of which are climate controlled, vehicle and RV parking, and over 168,360 RSF situated on 12.86. Both are located in growing communities, and enjoy a combined occupancy of 92%.

Michael Morrison, Associate Broker with Midcoast Properties, Inc. led this effort on the seller’s behalf.

Categories : Aiken, Lexington
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May
31

Winston-Salem Apartments Sold for $16.4 Million

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ashton oaksEller Capital Partners has purchased Ashton Oaks, a 288-unit apartment community in Winston-Salem, for $16.4 million, or $56,944 per unit.

The seller was not disclosed. Built in 1988, the property offers one- and two-bedroom layouts and is situated within one mile of Wake Forest University’s campus.

Chapel Hill, N.C.-based Eller Capital plans to renovate Ashton Oak’s exteriors, build new amenities and upgrade the interior finishes. Affiliate firm Eller Residential Living will manage the property and oversee the construction project

Categories : Winston-Salem
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May
31

CBC Atlantic Announces Transactions

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two soldNorth Charleston, SC – 5/22/2019 – Brent Case, CCIM and Caine Halter of Coldwell Banker Commercial Atlantic represented the Buyer, 3213 Rivers, LLC, in the Purchase of a 2,850-square-foot retail space for $220,000 at 3213 Rivers Ave. in North Charleston, SC. Craig Massey of Avison Young represented the Seller.

North Charleston, SC – 5/22/2019 – Brent Case, CCIM of Coldwell Banker Commercial Atlantic represented the Seller, M35 Investors, LLC, in the Sale of a 3,307-square-foot office for $793,000 at 4515 Spruill in North Charleston, SC.

Summerville, SC – 4/24/2019 – Mike Rose, CCIM of Coldwell Banker Commercial Atlantic represented the Seller, First National Bank of SC in the Sale of a 1.01-acre piece of land for $365,000 at 2861 Ladson Rd. in Summerville, SC. Billy Benedict of SE Retail Advisors represented the Buyer, Speedway, LLC.

Categories : Charleston
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May
31

Columbia Apartment Vacancy Rises to 8.9%

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house constructionAccording to Real Data, supply outpaced demand in the Columbia area over the past six months. The occupancy rate was affected by this and is now 91.1%. There are currently six communities under-construction in the overall market. These communities are located in the Central, Northeast and West submarkets. Rental rates increased by 3.2% over the past twelve months bringing the average monthly rent to $1,077.

Over the next year, new supply will decrease to meet demand. Therefore, occupancies are forecasted to remain level over the next year. Rental rates will increase by 2.5% to 3.0% over the next twelve months.

Categories : Columbia
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May
30

Publix to Open Third Bluffton-Area Location

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Publix (1)Publix is opening a third Bluffton-area location in an area that has long waited for more convenient shopping.

The 70,200 square-foot shopping center’s development was officially announced late Wednesday by Halvorsen Holdings — a Florida-based real estate developer — for May River Crossing, according to a news release from the developer.

The grocery store will mainly serve the New Riverside and Palmetto Bluff communities and will be located on the northeast corner of S.C. 170 and May River Road adjacent to land with a proposed mixed-use development to include office and retail space.

“Located in a high-end residential and visitor area, the accessibility to this center is great and, in fact, a high priority for Publix,” Tim Berg, president of Halvorsen Real Estate Corporation, said.

READ MORE HERE

Categories : Bluffton
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Mar
27

Short Term Office Space Lease Available in Columbia

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CaptureI have 3,500 square feet available on the first floor of my office building. Knowing that I am going to lose my building to eminent domain for the “malfunction junction”  re-do, I can only lease it for a short-term (9 to 18 months). If you know of a growing company that expects to outgrow their space quickly or a company that needs space while their new building is under construction, keep me in mind. The building is at 500 Lawand Drive in the St Andrews submarket. A floorplan and interior photos can be seen HERE.

Mike Dodds (803) 960-8783

Categories : Columbia
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Mar
27

Charlotte Apartment Vacancy Rate at 6.2%

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real data LogoAccording to the latest issue of the Charlotte Apartment Report published by Real Data, the average vacancy rate for apartments in the Charlotte metro area is now 6.2%. Demand was healthy with more than 2,500 units absorbed in just the last six months. Same-unit rents continue to grow and the average rental rate is now $1,205 per month.

Charlotte continues to have one of the most active development pipelines in the country, with more than 13,000 units currently under construction and another 10,000 units proposed. The most active submarkets are East-1 and Southeast-1, where there are more than 2,000 units under construction in each. The average vacancy rate in East-1 is currently 7.0%, while the average vacancy rate in Southeast-1 is 10.7%.

The average vacancy rate will approach 7.0%, while rents increase around 3.5% over the same time period.

Categories : Charlotte
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Mar
27

Columbia and Bluffton Self Storage Facilities Sold

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self-storage3Midcoast Properties, Inc. has announced the sale of Plantation Self Storage, a two-property portfolio located in Bluffton and Columbia, South Carolina, in early March to Morningstar Storage.

The facilities feature both climate-controlled units and non-climate drive-up units, as well as lockers, wine storage, covered drive-up units, and RV and Boat parking. Combined, there are a total of 19 buildings situated on 14.85 acres, with over 165,000 RSF. Amenities include cameras, lights, digital gate access, timers for lights in hallways, move-in trucks, and offices with moving supplies. They each enjoy good visibility and are situated near shopping centers and residential developments.

Dale C. Eisenman, CCIM of Midcoast Properties, Inc. represented the seller and had the listing to market the facility.

Categories : Bluffton, Columbia
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Mar
26

Short Term Office Rental Available in Columbia

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CaptureI have 3,500 square feet available on the first floor of my office building. Knowing that I am going to lose my building to eminent domain for the “malfunction junction”  re-do, I can only lease it for a short-term (9 to 18 months). If you know of a growing company that expects to outgrow their space quickly or a company that needs space while their new building is under construction, keep me in mind. The building is at 500 Lawand Drive in the St Andrews submarket. A floorplan and interior photos can be seen HERE.

Mike Dodds (803) 960-8783

 

Categories : Columbia
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Mar
26

Snapshot: Wilmington Commercial Real Estate

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wilmingtonIn the everchanging landscape of commercial real estate, some things stay the same, at least until the next supply/ demand cycle rolls around. This is true for office space and apartments in Wilmington, even as transportation changes – some just proposed ones – and retail industry corrections are having an impact locally.

While an economic dip could be coming, the economy was faring well during the first quarter of 2019, as local brokers and businesspeople kept an eye on the following trends.

READ MORE HERE

Categories : Wilmington
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Mar
25

Taylors Apartment Complex Sold for $89,000/Unit

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Chimneys Exterior 1Norfolk, Va.-based Cohen Investment Group has purchased The Chimneys of Greenville from Chicago-based Highgate Capital Group for $14.95 million.

The Chimneys of Greenville is a 168-unit apartment community in Taylors. Jordan McCarley, Tai Cohen and Watson Bryant of Cushman & Wakefield represented the seller in the transaction, according to a news release.

“The Chimneys of Greenville transaction is a great example of our company buying value-add multifamily real estate below replacement cost,” said Hugh D. Cohen, president of Cohen Investment Group, in the release. “Adding this property to our growing portfolio is exciting on various levels including our entrance into the Greenville market. Each acquisition that we do possesses its own individual business plan, and we plan on capitalizing on ours quickly.”

Categories : Greenville
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Mar
20

Critics of Asheville Mall Plan Weigh In

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asheville mallAsheville City Council delayed action on approving a redevelopment proposal for a section of the Asheville Mall that includes the now-defunct Sears building. The $45 million dollar project would include retail space, a movie theater and more than 200 units of housing.

Critics of the project say it lacks the streetscape and infrastructure needs of the area, as well as for the anticipated addition of new residents.

The redevelopment plan reflects a national trend that’s been called the “death” of American shopping malls. It even has its own hashtag — #deadmall. Suburban retail has largely fallen out of style in the last decade, due to increasing online sales and a generational shift toward walkable, urban communities. That’s left many cities including Asheville facing the question of how to repurpose massive vacant department stores, like Sears on Tunnel Rd.

READ MORE HERE

Categories : Asheville, Uncategorized
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