Author Archive

Aug
16

Wando Self Storage Facility Sold

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wando ssThe Extra Attic Self Storage in Wando (Charleston), South Carolina, was sold in August and commanded a sales price of over $100 per RSF.

Located on Clements Ferry Road just tenths of a mile from the proposed 9,000 acre development of Cainhoy Plantation, estimated to be home to 20,000 – 40,000 residents over the coming decades, the facility features 11 self storage buildings plus an office building, with 84,200 +/- RSF on approximately 6 acres. It offers climate units and traditional units, plus parking. There is also an onsite rental office with moving supplies, and a self serve Kiosk. Expansion can be accommodated onsite vertically.

Dale C. Eisenman, CCIM of Midcoast Properties, Inc., a leading self storage broker in the Southeast, represented the seller and had the listing to market the facility.

LINK TO LOOPNET LISTING

Categories : Charleston
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Aug
16

Avison Young Announces Transactions

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avison young logoRakan Draz and John Odom represented DHM-301 Haywood Road, LLC in the leasing of a 1,200 sf retail space located at 301 Haywood Road in Greenville, South Carolina, to XF Studio Salon, LLC.

Rakan Draz and John Odom represented Phillip C. Cahaly, Mark A. Cahaly and Clark P. Cahaly in the leasing of 1,100 sf of retail space located at 7530 White Horse Road in Greenville, South Carolina, to Kelley Contract Services, LLC.

Chris Fraser, CCIM, Tabitha Cooper and Rob Howell represented Black & Veatch Corporation in the lease extension of 5,706 sf of office space located at 201 Brookfield Parkway in Greenville, South Carolina, from ROC III Fairlead Brookfield Corporate Center Owner, LLC. Shelby Dodson of CBRE represented the Landlord.

Todd P. Garrett, CCIM, SIOR represented 756 St. Andrews Blvd. LLC in the lease extension of a 2,100 sf industrial space located at 7187 Bryhawke Circle, Suite 100 in North Charleston, South Carolina, to Custom Canvas of Charleston, Inc.

Todd P. Garrett CCIM, SIOR represented Palms Preferred Properties, LLC in the lease extension of 2,400 sf industrial space located at 4663 Franchise Street in North Charleston, South Carolina, to Rainbow International of Charleston.

David Mantek and Vitré Stephens represented the landlord, James Island Center LLC, in the lease extension of a 1,800 sf restaurant space located in James Island Center at 1739 Maybank Hwy in James Island, South Carolina, to Barberitos.

Todd P. Garrett, CCIM, SIOR & Tradd Varner represented Ed Sutton in the leasing of 1,000 sf industrial space located at 1921 Reynolds Avenue in North Charleston, South Carolina, to Art Forms & Theatre Concept, Inc.

Todd Garrett, SIOR, CCIM represented Skeet Ventures in the lease extension of 26,940 sf industrial space located at 2550 W 5th North Street in Summerville, South Carolina, from Delta Real Estate Investments, LLC. John Beam of Colliers International Charleston, LLC represented the Landlord.

David Mantek and Vitré Ravenel Stephens represented GB Associates Limited Partnership in the leasing of 1,600sf retail space located in Crowfield Plaza at 431 St. James Avenue, Suite L in Goose Creek, South Carolina, to The UPS Store. Eddie Pershin of Atlas Realty Group represented the Tenant.

Todd P. Garrett, CCIM, SIOR and Tradd Varner represented Traxler Littlejohn Enterprises, LLC in the leasing of a 1,900 sf industrial space located at 4208 Pace Street, Unit B, in North Charleston, South Carolina from Pace Street, LLC. Miles Martschink of CC&T Real Estate Services represented the Landlord.

Todd P. Garrett CCIM,SIOR represented 3614 Ashley Phosphate Road, LLC in the lease extension of 5,000sf of industrial space located at 3170 Stanton Court, Suite A in North Charleston, South Carolina, to Charleston Import Automotive.

Gregg Legerton represented the landlord, Tobias, LLC, in the leasing of a 4,500 sf medical office space located in 61West at 1483 Tobias Gadson Boulevard in Charleston, South Carolina to Roper St. Francis Physicians Network.

Gregg Legerton represented the landlord, Tobias, LLC, in the leasing of a 2,161 sf medical office space located in 61West at 1483 Tobias Gadson Boulevard in Charleston, South Carolina to Head Dental Associates, LLC.

Jeremy Willits represented the landlord, 5900 Core Avenue, LLC in the lease extension of a 10,763 sf office space located at 5900 Core Avenue in North Charleston, South Carolina to DEA.

Gregg Legerton represented the landlord, Tobias, LLC, in the lease of a 1,312 sf medical office space located in 61West at 1483 Tobias Gadson Boulevard in Charleston, South Carolina to Charleston Hand Therapy Center.

Todd P. Garrett CCIM, SIOR represented Palms Preferred Properties, LLC in the lease extension of 2,00sf industrial space located at 4663 Franchise Street, Suite 105 in North Charleston, South Carolina, to Palmetto Furniture Solutions, Inc.

Todd P. Garret CCIM, SIOR represented Jeffry L. Combs & Traci B. Combs in the leasing of 10,500 sf industrial property located at 3209 Industry Drive in North Charleston, South Carolina, to Southern Current. Blair Belk of Belk Lucy represented the Tenant.

David Mantek & Vitre R. Stephens represented James Island Center LLC in the leasing of 7,491 sf of retail space located in James Island Center at 1739 Maybank Highway, Suite N, in James Island, South Carolina, to Pet Supermarket, Inc. Julie Gardner of Katz & Associates represented the Tenant.

Categories : Charleston, Greenville
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sold signsGreer:  Pete Brett, CCIM, David Sigmon, CCIM and Matt Vanvick of Coldwell Banker Commercial Caine represented Enigma Corporation (Seller) in the sale of +1.127 acres at 110 Sage Creek Way, to NV, LLC (Purchaser).

Greenville:  Pete Brett, CCIM, David Sigmon, CCIM and Matt Vanvick of Coldwell Banker Commercial Caine represented Brains on Fire Properties, LLC (Purchaser) in the purchase of a +5,330 SF office building on +0.12 acre at 1263 Pendleton St., from Mutual Home Store of Greenville, Inc. (Seller).

Spartanburg:  Tim Satterfield and Wiley North of Coldwell Banker Commercial Caine represented LeRhea R. Armstrong (Seller) in the sale of a +1,288 SF house on +1.07 acres for redevelopment at 2245 Southport Rd., to Jerome G. Bulman & Donald Bishop (Purchasers).

Spartanburg:  Tim Satterfield and Angela Halstead of Coldwell Banker Commercial Caine represented Charles N. Davis, Jr. and Susan D. Cantrell (Sellers) in the sale of a +1,900 SF retail building on +0.6 acre at 2850 E. Main St., to Burhan Abbas Raja (Purchaser).

Gaffney:  Tim Satterfield of Coldwell Banker Commercial Caine represented Sunny Hill Farms, Inc. (Seller) in the sale of +10.5 acres on Nancy Creek Rd., to Alfred Randall Moss & Arjana Ana Moss (Purchasers).

Leases

Greenville:  Robert Zimmerman of Coldwell Banker Commercial Caine represented Lever Studios, Inc. (Tenant) in the leasing of a +2,085 SF office space at 1320 Hampton Ave. Ext., Unit 4A, from Oceana Rapid, LLC (Landlord).

Greenville:  Matt Vanvick of Coldwell Banker Commercial Caine represented Hampton Doorway, LLC (Landlord) in the leasing of several small office suites at 217 E. Stone Ave. to The Art of Real Estate (Suites 31 & 33), Natural Glow Skincare (Suite 36), and Ali Waller Makeup & Skin (Suite 40) as Tenants. 

Greenville:  Pete Brett, CCIM, David Sigmon, CCIM and Matt Vanvick of Coldwell Banker Commercial Caine represented Mountain City Land and Improvement Co., LLC (Landlord) in the leasing of +6,158 SF of additional office space at INNOVATE, 148 River St., Suite 100, to Oobe Uniforms & Apparel, Inc. (Tenant).

Spartanburg:  Tim Satterfield of Coldwell Banker Commercial Caine represented Glorian Hayes (Landlord) in the leasing of a +2,500 SF retail/garage building at 18 Wells St., to Omar Davis (Tenant).

Spartanburg:  Tim Satterfield of Coldwell Banker Commercial Caine represented Mary Frances Poole (Landlord) in the leasing of a +16,250 SF industrial space at 140 Interstate Park Dr., to Cooks Power Equipment (Tenant).

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Woodbridge_ApartmentsThe RADCO Companies, one of the nation’s leading opportunistic real estate developers, completed its sixth acquisition of 2017 with the closing of Woodbridge Apartment Homes in Charleston, South Carolina. This is RADCO’s 72nd acquisition since 2011, its seventh community in South Carolina, and its second community in the Charleston market.

The 198-unit, Class B property has been renamed Radius at West Ashley. Radius at West Ashley will be proudly managed by RADCO Residential, the Company’s proprietary management platform.

Radius at West Ashley is favorably located in the heart of the West Ashley submarket of Charleston, just minutes away from downtown Charleston, College of Charleston, MUSC, and scenic South Carolina beaches. The community’s location and accessibility to major roads allows for an easy commute to the area’s major office facilities and employers, including Boeing.

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mmtcCushman & Wakefield announced today that it has negotiated the sale of Rivers Park Business Center, a 158,583-square-foot office building located in the rapidly growing and highly acclaimed Charleston market.

Cushman & Wakefield Managing Director Rob Cochran, Director Jared Londry and Associate Nolan Ashton represented the seller. The buyer, a joint venture between DRA Advisors and Mainstreet Capital Partners, acquired the fully leased, single-story office building.

The office building is located in an ideal location in North Charleston, SC. Rivers Park Business Center is highly regarded for its connectivity to the entire region, abundance of nearby housing options and seamless access to both Interstate 26, Interstate 526 and the Charleston International Airport. Additionally, the asset boasts an exceptional mix of tenants, including McKesson, the American National Red Cross, Miller Motte and Dial America Marketing, and all tenants have occupied space in Rivers Park since at least 2005.

“This rare offering attracted significant interest as one of only a few high-density office buildings in the Charleston market,” said Londry. “The stable tenancy at Rivers Park is a testament to the demand for a central location, large floor plates and an above market parking ratio of 6.0/1,000 RSF.”

Categories : Charleston
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Aug
15

Closed Myrtle Beach Golf Course Sold

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golf soldWedgefield Plantation Country Club in Georgetown, which has been closed for more than a year, has been purchased and the golf course could reopen as early as next spring.

Harry Karetas, 74, the owner for the past 28 years of Terminal Storage in North Myrtle Beach, and his wife, Yvonne, closed on the purchase Thursday from Paramont Capital of Phoenix, Ariz., which foreclosed on the property late in 2016.

Karetas said Monday that his purchase includes about 175 acres and he hopes to lease out the golf course, Manor House restaurant and bar, and an Olympic-size swimming pool – possibly each through three separate agreements.

“I do have a gentleman interested in leasing the golf course already and have another party that’s interested in leasing the swimming pool,” Karetas said. “We’ll just take it step by step, patiently, and try to get all the moving parts working for the same goal, which is to make the place productive again and entertaining for the public.

READ MORE HERE

Categories : Myrtle Beach
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Aug
04

RealOp Investments Acquires Office Assets in Greenville, SC

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realopRealOp Investments has announced the purchase of a suburban office portfolio consisting of three properties located along the I-385 corridor in Greenville, SC.

  • The three properties, located at 1 Marcus Drive, 1001 Keys Drive, and 770 Pelham Road, boast a total +/- 211,000 square feet and feature notable tenants, including: ECPI, AssetPoint, Cintas Corporation, Mustang Engineering, and Innervision.
  • Portfolio occupancy is approximately 50%
  • The portfolio was purchased for $13.875 Million and closed on July 21, 2017.
  • Office space within this portfolio is currently available from ±1,800 RSF – ±9,000 RSF, and offers a variety of benefits, including private office entrances, exterior tenant signage, convenient access, and plenty of parking.
Categories : Greenville
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Aug
04

Bluffton Shopping Center Sold

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blufftonLowcountry Village, which houses box stores such as Pier 1 Imports, Big Lots and Michael’s, was recently sold to an undisclosed California buyer for $22 million, according to Matthews Real Estate Investment Services.

The Bluffton shopping center has 14 tenants, including Ross Dress for Less and Cost Plus World Market. It was built in 2001 and sits between Tanger I and Tanger II.

Matthews Real Estate Investment Services arranged the sale of the 140,000-square-foot center for seller Real Properties of America Inc., a release states.

READ MORE HERE

Categories : Bluffton
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Aug
04

Concord FedEx Facility Sold

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sold_stamp redMonmouth Real Estate Investment Corporation (NYSE: MNR) today announced the acquisition of a brand new 354,482 square foot industrial building located at 4350 Fortune Avenue, Concord, NC at a purchase price of $40,598,446. The property is net-leased for 15 years to FedEx Ground Packaging System, Inc., a Delaware corporation. The building is situated on approximately 56.6 acres.

Michael P. Landy, President and CEO, commented, “We are very pleased to announce this new addition to our high-quality portfolio. This state-of-the-art facility is immediately adjacent to our recently constructed FedEx SmartPost facility. As the result of this new acquisition, we now own a two property campus in the Charlotte market containing 685,200 total square feet. This 116 total acre campus is situated alongside Interstate 85.”

Categories : Charlotte
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Jul
31

Irmo Shopping Center Sold

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irmo stationAtlanta-based Preferred Apartment Communities announced Thursday that it has acquired Irmo Station, a nearly 99,619-square-foot shopping center at 7467 St. Andrews Road. The shopping center is anchored by a 56,942-square-foot Kroger grocery store.

The facility was bought through Preferred Apartment’s Market Properties LLC.

The company financed the acquisition utilizing a non-recourse first mortgage loan from Nationwide Mutual Insurance Company. The first mortgage loan is approximately $10.65 million, bears interest at fixed rate of 3.94% per annum and matures on July 26, 2030. There are no loan guaranties provided by PAC or its operating partnership.

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Categories : Columbia
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Jul
31

C&W | Thalhimer Sells Spartanburg Industrial Buildings

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3001 N Blackstock AerialCushman & Wakefield | Thalhimer has announced the sale of 3001 N. Blackstock Road, Buildings 1 and 2, in Spartanburg, South Carolina.

Crimson Palmetto Holdings, LLC purchased two industrial buildings comprised of 342,838 square feet and situated on 39.25 acres from RT Blackstock Complex, LLC for $5,400,000. RDI-USA, Inc. has been a tenant for over 7 years and will continue their occupancy.

Brian J. Young, CCIM, SIOR and Lyn Norton of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the seller.

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Jul
31

Shop Road Industrial Building Sells for $2.3M

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sold_sign_postcardTMC Transportation has paid $2.3 million to acquire the former Thermo King location on Shop Road to serve as a trucking terminal, according to the commercial real estate firm Newmark Wilson Kibler.

The purchase expands the Des Moines, Iowa-based, employee-owned open deck transportation company’s presence in the Midlands, the release added.

“TMC is excited to continue its growth and presence in the Southeast with this latest acquisition,” Jason Webb, executive vice president of asset management, said in a statement. “We look forward to beginning the development of a 44-acre, cutting-edge trucking terminal to support our fleet and train America’s best truck drivers.”

The location includes 17,000-square-foot building that was building in 1998 with 19-foot ceilings and 13 drive-in doors, according to a property flyer on the Wilson Kibler website.

SOURCE

 

Categories : Columbia
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Jul
31

US Industrial Vacancy at Record Lows

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percentage downThe growth of e-commerce and a steadily improving economy are driving demand for industrial space and helping push industrial vacancy to record-low levels, particularly near major population centers, according to the 2017 U.S. Industrial Midyear Outlook report from Marcus & Millichap.

“Vacancy rates on a national level have fallen to record lows while rent growth has accelerated to outpace all other commercial real estate property types, lifting performance metrics beyond expectations. While some port and intermodal hub markets will receive significant new supply that could dampen local performance, the e-commerce driven demand for urban last-mile warehouse space has sparked the need for more infill industrial space, particularly in major metropolitan areas,” Senior Vice President Alan Pontius, National Director, Specialty Divisions & John Chang, first vice president|Research Services, wrote in the report.

READ MORE HERE

Categories : National News
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Jul
27

Where Does Integra Do Commercial Appraisals?

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While Integra Realty Resources has offices all over the United States and the Caribbean, the market coverage that Integra has in the Carolinas is unmatched. We have offices in Charlotte, Raleigh, Columbia, Greensboro and Charleston. To give you an idea of the markets that we have worked in, check out the map below. These are the appraisal assignments that our Carolinas appraisers have completed…..just so far this year.  Call me if I can assist with your appraisal needs in the Carolinas.

Carolinas assignments

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Jul
27

Augusta Named the South’s “Mid-Market of the Year”

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southern businessSouthern Business & Development magazine has named Augusta to the South’s top honor as the best “Mid-Market of the Year” in 2017, according to the Augusta Economic Development Authority. In 2015, the magazine named Augusta as one of the “Ten Sizzling Mid-Market Economies” in the South.

Michael Randle, Publisher of Southern Business & Development, said, “Augusta garnered the top spot among all medium-sized economic development markets based on their strong recruitment efforts for new jobs and investments.” Randle continued, “Throughout the South, there are communities on the move, where cities’ economic growth and development are outpacing the rest of the country. Augusta is one of these cities, with the Augusta Economic Development Authority leading the way. Their overall ranking was impressive.”

In Randle’s state-by-state summaries, “It was a nice year for Georgia, with its highest point total in several years. A nice mix of industries and service projects. Augusta had a year like no other to win “Mid-Market of the Year”.

READ MORE HERE

Categories : Augusta
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