Author Archive

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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Feb
19

Augusta Shopping Center Sold for $20 Million

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sold_sign65One of Washington Road’s largest commercial properties was acquired last month for $20 million – the latest in a string of multimillion-dollar investments on the busy thoroughfare in recent months.

The 28-acre Washington Square shopping center, whose tenants include 2nd &Charles, Stein Mart and Carrabba’s Italian Grill, was purchased by Atlanta-based WSQ LLC on Jan. 12, according to Richmond County property records.

The limited liability company is registered to Bret Block, a partner in the Atlanta law firm of Block &Fine. Phone and email messages to Block were not returned Monday or Tuesday.

READ MORE HERE

Categories : Augusta
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Dec
15

HFF Sells 232,000 SF Charlotte Industrial Property

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6100 HarrisHolliday Fenoglio Fowler, L.P. has announced the sale of a 232,000-square-foot, Class A, fully occupied distribution warehouse at 6100 Harris Technology Boulevard in Charlotte, North Carolina.

The HFF team represented the seller, Sun Life Financial / Bentall Kennedy. Hartz Mountain Industries, Inc. purchased the asset.

The front-load distribution warehouse has been institutionally owned and maintained since it was completed in 1994 and features 24-foot clear heights, truck courts up to 170 feet, 34 loading doors and an ESFR sprinkler system. Additionally, the multi-tenant building is fully leased to three tenants, including Iron Mountain, which accounts for 72 percent of the building’s square footage. Situated on 14.36 acres within Northwoods Business Park along the Interstate 77 corridor in Charlotte’s North submarket, 6100 Harris Technology Boulevard is in a last-mile location that is approximately 10 miles from Uptown Charlotte, the area’s largest commercial hub. The property has distribution capabilities via Interstate 77, one of Charlotte’s main north-south arteries, that provides access to major transportation thoroughfares, including Interstates 40, 485 and 85, which is considered the “industrial backbone” of the Southeast.

The HFF investment advisory team representing the seller consisted of senior managing directors Chris Norvell and Ryan Clutter and director Patrick Nally.

Categories : Charlotte
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Dec
14

Columbia Flex Buildings Sold for $43.64/SF

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soldNAI Avant has announced the investment sale of two flex buildings totaling 25,200 square feet in the Rioux Professional Park located at 161 Pontiac Business Center Drive in Columbia, SC. Senior Investment Broker Dail Longaker represented the seller in this transaction.

The property sits on a 8.42 acre site and is conveniently situated just off the I-20 and Spears Creek Road interchange.

The property was purchased by HVP3 Development LLC for $1,100,000 ($43.64 per square foot).

Categories : Columbia
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Dec
11

Columbia Apartment Occupancy at 95%

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real data LogoAccording to Real Data, the occupancy rate for the Columbia metropolitan area is improving due to increased demand and minimal new supply added during the past six months. The occupancy rate is now 95%. There are six communities currently under-construction in the Columbia area, most of which will complete construction during 2018. Only one community started construction over the past six months.

The current average monthly rent increased by 2.8% or $27.48 over the past twelve months. Demand is expected to exceed new supply over the next twelve months, which will allow the vacancy rate to remain in the 5% range. Rental rates are expected to increase during 2018.

Categories : Columbia
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Dec
11

Crown Bay Group Acquires Columbia Apartments

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Lake ShoreAtlanta based Crown Bay Group LLC and its partner Vantage Capital Group has announced their acquisition of Lake Shore Village Apartments in Columbia, SC. The property was recently annexed into the City of Columbia boundary.

The garden style property is located on Garners Ferry Road, a major south-east artery which enjoys a highly accessible location with frontage on Garners Ferry, just minutes from I-77 (1.25 mi.). It is comprised of 280 units spread over 23 acres, that also includes a beautiful lake frontage. The new owners intend to complete a full deferred maintenance program including new roofs. Other improvements will include an interior upgrade package with new modern lighting, flooring, kitchen cabinets and black appliances that will take place over the next 24 months. In addition to renovating the units, a washer-dryer rental program will be put in place and a large outdoor tenant amenity area will be created to include a new playground, barbeque/picnic area and pavilion with the goal of upgrading Lake Shore’s image to attract tenants and increase occupancy.

 

The property will be managed by Crown Bay Management, a subsidiary of Crown Bay Group.

Categories : Columbia
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Dec
11

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.

Matt Carter, CCIM and Craig Leduc represented the Seller, in the sale of a 15,000±SF office building at 135 Edinburg Ct in Greenville, SC to MB4 midtown LLC.

Joe Teague and Hays Reynolds represented the landlord in a lease, 900± SF office suite to Creative Engineers at 330 Pelham Rd Suite 102 Greenville, SC

Joe Teague represented the landlord, in a lease of retail space of 1,500±SF at 1791 Woodruff Rd Suite B to Local Map Co. in Greenville, SC.

Bryon Culbertson represented the owner, OHI Assets in a sale of 9,000± medical building at 721 W. Curtis St Simpsonville, SC to Lakefield Properties LLC.

Michael Joseph represented the buyer, Mr. Simmons in a sale of industrial land at 301 Woodruff Rd in Greenville, SC.

Nelson Garrison represented the seller and buyer of a 1.4 acres lot with a flex building for use of Terminix Services at 3608 Fernandina Rd Columbia SC.

Bryon Culbertson represented the Tenant CCFT Rapid Ready LLC in a lease of 1,200± office space at 413 Vardry St Suite 7 in Greenville, SC.

Wayne Smith represented the Tenant Units Mobile Storage of Greenville LLC in a 16,000±SF office building Lease at 308 Pennsylvania Ave Greer, SC.

Greg Huff represented the owner in a sale of a 3,750±SF brick building at 523 Sulphur Springs Rd in Greenville, SC to LaMesa Del Padre Church.

Bryon Culbertson represented the Landlord NV LLC and Tenant ProConsultants of a lease of 2,270± SF office space at 213 Bulter Rd Suite D in Mauldin, SC

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