Author Archive

Apr
17

NAI Avant Closes ±20,791 Square Foot Industrial Sale

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gilbertNAI Avant has announced the sale of ±20,791 square foot of warehouse space at 4335 Augusta Highway in Gilbert, South Carolina. Senior brokers Nick Stomski, SIOR and Rob Lapin represented the seller, Branning Property Management, LLC. Robertson Family Holdings, LLC purchased the property for $935,000.

The property features two buildings, totaling ±20,791 square feet of office and warehouse space, on ±5.45 acres of land. Building 1 consists of ±8,991 square feet of professional office space while Building 2 consists of ±11,800 square feet of office and manufacturing/lab space.

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Apr
17

Vista Capital Management Awarded Management Contract

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VistaCMVista Capital Management Group has announced that it has been awarded management of three multifamily communities totaling 400 units. The communities, Cameron Courts Weldon Heights, Linwood Terrace, and Mountain View, are located in Gastonia, North Carolina. Formerly public housing properties, Vista Capital will oversee their conversion to low income housing tax credit communities.

While already established in Hendersonville, Vista Capital is proud to expand their reach further into North Carolina with the addition of these 400 units in Gastonia. Managing a portfolio in excess of $250 million, Vista Capital Management provides property and asset management services throughout the Southeastern and Mid-Atlantic regions of the United States, including South Carolina, North Carolina, Virginia, Maryland, and Indiana.

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Apr
17

136 Year Old Mill Could Become Cybercenter

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CyberworksIt’s somewhat ironic: One of the best glimpses into Augusta, Ga.’s future can be found at a 136-year-old textile mill.

The mostly shuttered Sibley Mill in the city’s historic Harrisburg section is where a group of high-tech investors are working through the initial phases of a $150 million plan to develop a multi-use complex called Augusta Cyberworks.

The plan would transform the hulking industrial property and the adjacent King Mill into offices, apartments and a 20-megawatt data center to power the city’s growing digital economy.

“There is nothing like this here in Augusta,” said Charles Johnson, the CEO of IT firm EDTS and a partner in Cape Augusta Digital Properties, the developer of the Cyberworks campus.

EDTS, which provides remote network and cybersecurity services, is Cyberworks’ first tenant. The 72-employee company moved into 32,000 square feet of renovated space in the mill’s old cotton warehouse last summer.

READ MORE HERE

Categories : Augusta
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Apr
17

Texas Roadhouse Ground Lease Sold

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berkeley capBerkeley Capital Advisors has announced the sale of the Texas Roadhouse Ground Lease in Aberdeen (Pinehurst Area), NC for $2.03MM. Located at 1301 North Sandhills Blvd., Texas Roadhouse had 10 years remaining on the lease at time of sale. The 1.22 acre site is improved with the 6,150 square foot Texas Roadhouse restaurant, which was built in 2012.

Steve and Ransome exclusively represented the seller in the transaction.

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Apr
16

Investor Interest in Self Storage Remains High

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Self Storage Tucson Arizona

Self Storage Tucson Arizona

Institutions continue to invest in self-storage assets, paying high prices for properties and partnering on new developments.

“There’s been tremendous activity from high-end, institutional-level capital that is entering or attempting to enter the space,” says Brian Somoza, managing director with JLL Capital Markets. “That’s been driving a fair amount of acquisitions.”

Developers plan to open new self-storage properties totaling millions of square feet in 2018. New customers are expected to rent up most of this new space, keeping average occupancy rates high and property incomes strong. With fundamentally strong demand, institutional investors keep paying high prices for properties even though buyers may take longer to close deals and are buying less than they did in 2016.

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Categories : National News
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Mar
01

S.C. Hotels Post Strong Occupancy and RevPAR Figures

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hotelStatewide revenue per available room increased 2.2% in December 2017 for S.C. hotels and grew 4.6% for the year, the S.C. Department of Parks, Recreation & Tourism said Wednesday.

RevPAR, as the tourism impact indicator is known, stood at $43.12 in December. The annual increase outperformed both national (3%) and South Atlantic regional (4.6%) averages.

State parks also saw a revenue increase in December and for the year. Compared to a fall/winter of 2016 affected by Hurricane Matthew, state parks revenue rose 18% in December and 18.3% year-to-date. Compared to revenue averages, the yearly increase was closer to 4%.

Three of the state’s major airports ended 2017 with year-to-date increases in deplanements, led by Myrtle Beach International Airport’s 16.7% jump. Myrtle Beach saw a 21.9% deplanement rise from December 2016 to December 2017.

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Feb
28

New Apartments Proposed for Bluffton

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mayewater“Wilkinson Way” in Bluffton doesn’t exist — yet.

But it’s a developer’s preferred and proposed street name that would lead to a yet-to-be constructed apartment complex off Bluffton Parkway, southwest of the intersection of Red Cedar Street.

The complex, dubbed Vantage Pointe Apartments at Bluffton Park, has been proposed by Bluffton Park Apartments, LLC and Bluffton Park D-2, LLC, both of which are registered to Realtor and developer David Staley, founder and president of Main Street Realty on Hilton Head Island. According to Town of Bluffton Planning Commission documents, the development — if approved — would be a “110-unit multi-family” complex.

The proposed street names — others include Crowder Court and Vantage Court — will be discussed at this week’s Bluffton Planning Commission meeting.

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Feb
28

Cantor Fitzgerald Acquires Fort Mill Office Building

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daimlerCantor Fitzgerald Investors, LLC has announced its purchase of the Daimler Building, a 150,164 square foot, Class A office building at 2477 Deerfield Drive in Fort Mill, South Carolina. CFI, together with a public, non-traded real estate investment trust it sponsors, acquired the asset for $40 million. Daimler Trucks North America has occupied the building since 2008 as the sole tenant and recently extended its lease through 2028.

The property is located in the Charlotte, North Carolina metro region and serves as the east coast operational hub for Daimler Trucks North America. Charlotte continues to be one of the most attractive, fastest growing markets in the United States, known for its high pay, low expenses and attractive quality of life.

Cushman & Wakefield Charlotte Managing Director Rob Cochran, Director Jared Londry and Associate Nolan Ashton, and Campbell Walker and Ridr Knowlton of Lincoln Harris represented the seller.

Categories : Charlotte, Rock Hill
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Feb
27

Second Inland Port Shows SC’s Logistics Prowess

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port craneThe South Carolina Ports Authority expects its second inland port, in Dillon, South Carolina, to open in April, a facility slated to support growing intermodal cargo volumes between the Port of Charleston and markets throughout the Carolinas, the Northeast, and the Midwest. The upcoming event will reflect South Carolina’s growth in logistics investments and freight movement.

SCPA first announced consideration of an inland port in Dillon in April of 2016, and that probably shouldn’t have come as a huge surprise, given the success of its first facility, Inland Port Greer, which opened in 2013. The Dillon announcement was followed in short order by a market studies, a proposed terminal layout and initial design phase, permitting and equipment requisition processes, and the award of construction contracts.

Inland ports have become increasingly important in managing the movement of containers to and from ocean ports. The idea is to transport container cargo by rail to an inland location, away from the port, for further processing and distribution. When it comes to exports, inland ports are used as staging areas for cargo containers making their way to ports. Besides mitigating port congestion, inland ports, because they promote the use of intermodal rail connections, represent a more environmentally friendly alternative to trucking containers to and from terminals. They also provide relief to beleaguered highway networks.

READ MORE HERE

 

Categories : Greenville
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Feb
27

Greenville Apartment Development Sold

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beacon ridgeCBRE Capital Markets facilitated the sale of Beacon Ridge Apartment Homes, a 144-unit value-add multifamily property at 5 Crystal Springs Road in Greenville. Located just off Interstate 385, less than two miles from Haywood Mall, the property is close to downtown Greenville and the Greenville Health System Patewood Medical Campus.

Philadelphia-based PRG Real Estate acquired Beacon Ridge. CBRE’s Kevin Kempf, Parker Yates, David Lansbury, and Phil Brosseau represented the seller, Charlotte-based Grubb Properties, in this transaction.

Built in 1988, the property is situated on 9.6 acres and was 96 percent occupied at the time of sale. Amenities include a 24-hour fitness center, expansive pool and sundeck, multiple grilling stations, clubhouse, business center, picnic areas, and dog park.

Categories : Greenville
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Feb
26

Spartanburg Assisted Living Facility to be Sold

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invernessA Spartanburg-based assisted living community is changing hands in a $10 million acquisition.

LTC Properties Inc., of California, announced this week that it’s entered into a real estate joint-venture relationship with an affiliate of Affinity Living Group to acquire The Inverness at Spartanburg, an 87-unit assisted living and memory care community, according to a statement from LTC.

The community will be operated by an affiliate of Hickory, N.C.-based Affinity Living Group under a triple-net lease.

Affinity, which operates 92 assisted living, memory care and independent living facilities in eight states, is a new operating partner for LTC, the statement said.

SOURCE

Categories : Spartanburg
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Feb
26

CCP Commercial Real Estate Acquires Charleston Building

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sold_stamp redCBRE Capital Markets facilitated the sale of Foxbank Industrial Park, a 201,500-square-foot manufacturing and distribution facility in Moncks Corner, just north of Charleston. Located at 2550 U.S. Highway 52 in Berkeley County, the property is home to anchor tenant Sea Fox Boats, the nation’s leading manufacturer of value-driven saltwater boats. CCP Commercial Real Estate acquired the property.

“Foxbank Industrial Park is located within a diversified and growing Charleston-area economy that includes tourism, automotive, aerospace and boat manufacturing, defense contracting, and the Port of Charleston-related commerce,” said Gildea, executive vice president at CBRE Capital Markets. “The investor appetite for industrial investment in the Charleston area is robust, with limited opportunities available in today’s market.

 

The functional manufacturing and distribution complex is situated on more than 30 acres and features 25-35 foot clear heights, 10,280 square feet of office space, ample power infrastructure, existing bridge cranes, 18 oversized ground-level doors, and an expansive outside storage area.

CBRE’s Patrick Gildea, Bob Barrineau, Brendan Redeyoff, and Matt Smith represented the seller, JL Woode, in this transaction.

Categories : Charleston
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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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