Archive for Charleston

Nov
14

Recent Coldwell Banker Commercial Atlantic Transactions

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CBC atlanticCharleston, SC 10/24/2017 – Zach Wade of Coldwell Banker Commercial Atlantic represented the Tenant, Breakout LLC, in the lease extension of a 1,900-squarefoot office at 18 Leinbach Drive, Suite G, in Charleston, SC.

North Charleston, SC 10/23/2017 – Brent Case, CCIM and Kathleen Boswell, CCIM of Coldwell Banker Commercial Atlantic represented the Buyer and Seller in the sale of a 7,180-square-foot retail space for $1,250,000 at 2093 Eagle Landing Blvd. in North Charleston, SC. Brent Case represented the Buyer, Henry G. Crunk, and Kathleen Boswell represented the Seller, North Towne Greek Restaurant.

Summerville, SC 10/10/2017 – Marlena Franklin, CCIM of Coldwell Banker Commercial Atlantic, represented the Seller, Hickory Street Corp., in the sale of a 1,400-square-foot home for $218,400 at 404 North Hickory Street in Summerville, SC. Janice Freeman of Century 21 represented the Buyer.

Charleston, SC 10/5/2017 – Kathleen Boswell, CCIM of Coldwell Banker Commercial Atlantic represented the Landlord, Maids of Charleston., in leasing a 901-square-foot office space at 1064 Gardner Road, Suite 101, in Charleston, SC.

Charleston, SC 10/5/2017 – Kathleen Boswell, CCIM of Coldwell Banker Commercial Atlantic represented the Landlord, Luchoni’s Co., in leasing a 1,949-square-foot office space at 1064 Gardner Road, Suite 304, in Charleston, SC. The Landlord was represented by Chad Billings of KW Realty.

Categories : Charleston, Summerville
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Nov
07

Charleston FedEx Building Sold for $22M

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fedexMonmouth Real Estate Investment Corporation has announced the acquisition of a brand new 121,683 square foot industrial building located at 1892 Anfield Road, N. Charleston, SC at a purchase price of $21,872,170. The property is net leased for 15 years to Federal Express Corporation. The building is situated on approximately 16.2 acres.

Michael P. Landy, President and CEO, commented, “We are very pleased to announce this acquisition which is ideally located near the Charleston International Airport. Over the past several years we have strategically positioned our portfolio to benefit from the supply chain’s shift toward the eastern seaboard as the result of the recently completed Panama Canal expansion. The Port of Charleston has been one of the biggest beneficiaries of this change and we expect this region’s strong economic growth to continue for many years to come.”

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Nov
07

Charleston Medical Building Sold for $349/SF

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510 albemarleNAI Charleston has announced the sale of a ±8,022-square-foot medical office building at 510 Albemarle Road in West Ashley just across the Ashley River. Broker/Partner David Grubbs represented the seller, 900 Bowman Road Associates, LLP in the transaction. Impact Real Estate, LLC purchased the building for $2.8 million, with Roper St. Francis Physician’s Partners in place as a tenant. The healthcare provider currently uses the building for general surgical practices.

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Nov
02

New Study Shows Strong Apartment Demand in Charleston

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apartments for rent signA study commissioned by a hotel advocacy group estimates that the Charleston area will need 13,388 new apartment units over the next 13 years to house all the people moving in town.

It’s hard to tell if the city will reach that number. City officials say there is an apartment boom right now with at least six apartment buildings in the works for downtown Charleston.

The study is on WeAreApartments.org.

The demands for apartments are on rise and Charleston is seeing on average about 34 people moving to Charleston every day.

READ MORE HERE

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Oct
02

Avison Young Announces Charleston Area Transactions

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avison young logoNick Tanana represented the landlord, Kingfisher Investments VI, LLC in the lease of a 120 sf office space located in The School House at 720 Magnolia Road in Charleston, South Carolina to RAZ Productions, LLC.

Gregg Legerton represented the landlord, Tobias, LLC, in the lease of a 1,130 sf office space located in 61West at 1483 Tobias Gadson Boulevard in Charleston, South Carolina to The Kenney Law Firm.

Alan Bolduc, CCIM,SIOR & Courtney L. Marous represented William Stanley Hall as PR for The Estate of William J. Hall & The Estate of Norma C. Hall in the purchase of a 30,000 sf industrial building located at 1920 New Cut Road in Spartanburg, South Carolina, from Marshall Bridge Capital, LLC for $1,350,000.

Todd P. Garrett CCIM, SIOR represented Palms Preferred Properties, LLC in the lease extension of 2,400sf of industrial space located at 4663 Franchise Street, Suite 102 in North Charleston, South Carolina, to Professional Drywall & Paint Co., LLC.

Todd P. Garrett SIOR, CCIM represented Roger K. Davis in the lease extension of a 9,000 sf industrial space located at 4682 Franchise Street Unit A in North Charleston, South Carolina, to Manale Landscaping, LLC. Ryan Welch of Lee & Associates represented the Tenant.

Vitré Ravenel Stephens  represented Waxed Salon in the leasing of 1,300 sf of retail space located at 1145 Johnnie Dodds Blvd in Mount Pleasant, South Carolina, from New Market Centre, LLC . Chris Dion and Blair Belk of Belk Lucy represented the Landlord.

David Mantek & Vitré Ravenel Stephens  represented Trolley Square, L.L.C in the leasing of 1,600 sf of retail space located in Trolley Square at 1525 Old Trolley Road Unit E in Summerville, South Carolina, to Carolina Spirits. Trey Lucy of Belk Lucy represented the Tenant.

Vitré Ravenel Stephens  represented Indigo Village, LLC in the leasing of 650 sf of retail space located in Indigo Village at 1662 Savanah Highway in Charleston, South Carolina, to Charleston Roofing and Exteriors, LLC.  Brett Rashtchian of Re/Max Pro Realty represented the Tenant.

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Aug
29

Charleston Self Storage Facility Sold

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folly rd ssThe sale of Folly Road Self Storage in Charleston, South Carolina was recorded on August 25, 2017. The property consisted of 303 storage units in 34,700 net rentable square feet plus 15 parking spaces for boats and RVs. The property is located at 1573 Folly Road in Charleston, South Carolina. The property was purchased by a private equity firm from Pennsylvania and will be managed by a third-party management company. The seller was an entity controlled by an individual from San Diego, California. The sale price was $4,686,500.

Bill Alter of Rein & Grossoehme Commercial Real Estate represented the seller in the transaction.

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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

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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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Aug
15

RADCO Acquires Charleston Apartment Community

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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.

READ MORE HERE

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Aug
15

Charleston’s Rivers Park Business Center Sold

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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.”

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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

Newmark Wilson Kibler Releases Market Reports

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NM wilson kiblerNewmark Wilson Kibler has released their quarterly reports for Industrial and Office, not only for Columbia, but also Greenville / Spartanburg, and Charleston.

Check them out HERE

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Jul
18

New Senior Housing Development Planned for James Island

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elderly_peopleA joint venture between Alex Brown Realty Inc., Wakefield Capital and Affinity Living Group announced development plans for Indigo Hall, a 120,000-square-foot senior housing facility on James Island in Charleston, S.C. The Class A facility is scheduled for completion in June 2018.

Located at 509 Standard Way, Indigo Hall will offer 116 assisted living units and 40 memory care units as well as abundant community spaces. Planned property amenities include a bistro, movie theater, library and gym. The two-story community will accommodate both rehabilitation and therapy services. The property is four miles from the Medical University of South Carolina.

“There is unmet demand for Class A senior facilities in the Charleston area,” said Charles Trefzger, CEO of property manager Affinity Living Group, in prepared remarks. Indigo Hall will be one of the few senior housing options between affluent Kiawah Island and downtown Charleston.

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May
22

Berkadia Announces N. Charleston Apartment Sale

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bradford aptsBerkadia has announced the sale of Bradford Apartments, located at 5600 Dorchester Road, North Charleston, SC. Mark Boyce and Blake Coffey of the Charleston office negotiated the transaction. Bradford Apartments sold for $2.7 million. The sales price reflects a per-unit price of $52,940 or $42 per square foot. The property was stabilized and well occupied at the time of the sale.

Built in 1966, the 51-unit property features 1, 2, and 3-bedroom floor plans. All units are townhomes with fully-equipped kitchens, washer/dryer connections, and fully furnished apartments are available. Community amenities include a 24-hour laundry center, courtyard with grill, and a play area with swings.

Bradford Apartments is conveniently located near the convergence of Dorchester Road and Bream Road, two miles from Boeing and less than three miles from Joint Base Charleston. The property is within close proximity to Interstate 526 and 26, providing easy access to Greater Charleston.

Berkadia represented the Seller, Bradford of Dorchester LLC, of Charleston, SC. The Buyer, was Eastside Equities, LLC of Jupiter, Florida.

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May
21

N. Charleston Self Storage Facility Sold

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sold sign in yardAthena Real Estate, LLC is pleased to announce the acquisition of Pack Rat Self Storage (to be re-named Out O’ Space Storage), an approximate 400 unit or 45,700 square foot facility located at 2170 Greenridge Road, North Charleston, South Carolina. The property, acquired through an Athena affiliate, is similarly branded as six other Athena affiliate self-storage facilities located in Florida and provides for residential and commercial storage. The property is centrally located and is in close proximity to a number of apartment complexes, universities, technical schools, and businesses. The property offers both climate controlled and non-climate controlled space and sells moving and storage supplies.

This property is one block off of Rivers Avenue, a seven-lane highway with an average daily traffic count of approximately 67,000. The property has approximately 5,000 residential units nearby. Over the past 24 months the property has averaged 87% physical occupancy by unit count and 77% economic occupancy according to management summary reports.

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