Archive for Mount Pleasant

May
08

Recent Charleston Area Sales Announced

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sold signsDunston Powell of Carolina Commercial represented the seller, East Bay 7 LLC, in the $2.75 million sale of 235 East Bay St. in Charleston to Apex Real Property LLC and Apex 1031 Exchange LLC.

Robert Pratt of RE/MAX Pro Realty represented PR Properties of Summerville LLC in its $1.35 million purchase of 9,100 square feet of commercial space at 5208 State Road in Holly Hill. Greg Googer of Googer Real Estate represented the seller, CDP Holly Hill LLC.

Miles Martschink of Clement Crawford & Thornhill Inc., represented Lee-Walpole LLC in its $900,000 sale of 4.37 acres at 3291 Maybank Highway on Johns Island. The buyer, Sievers Construction Co. Inc., was represented by Mark Mizell of Birchin Lane Realty Advisors.

Eddie Hughes of Beach Commercial represented the buyer, Mount Pleasant Waterworks, in its $218,000 purchase of a 0.61-acre lot at 1643 Rifle Range Road in Mount Pleasant. The seller, Charles Goodwater, was represented by Henry Wolfe of Brand Name Real Estate.

Todd Garrett of Avison Young represented CDH 2360 Air Park LLC in its $310,000 purchase of 4,000 square feet of industrial space at 2360 Air Park Road in North Charleston from William W. Barrett Jr. and H. Russell Barrett.

Ryan Welch of Lee & Associates represented Anglo Fund Partners in its $860,000 sale of 11,680 square feet of warehouse space at 6491 Dorchester Road in North Charleston. The buyer, Silverton Partners LLC, was represented by R. Milton Thomas III of Lee & Associates.

Mark Erickson of Cushman & Wakefield|Thalhimer represented Port City Concrete Land LLC in its $800,00 purchase of 3.84 acres of industrial land on Pace Street in North Charleston from XJM Co. LLC.

Jack Pratt of Carolina One Commercial represented Kahsyne LLC in its $155,000 sale of a 0.684-acre commercial lot on Dewesbury Lane in North Charleston to the City of North Charleston. Bruce Berlinsky represented the buyer.

Walter Barton and Jeff Bowers of RE/MAX Pro Realty represented B & B in its $610,000 sale of 9294 Medical Plaza Drive in North Charleston to Trident Medical Center LLC.

Robert Pratt of RE/MAX Pro Realty represented J. Fred Weathers in the $1.165 million sale of 36 apartment units at 115 W. 7th North St. in Summerville. The buyer, Colonial Park LLC, was represented by Chris Garcia of RE/MAX Pro Realty.

Eddie Hughes of Beach Commercial represented Beach Village LLC in its $400,000 purchase of 3.62 acres on Highway 17-A in Summerville from The Sandman Crew. The seller was represented by Charles Fitzhenry II of RealityLink LLC.

Eddie Buxton and Jenna Philipp of Palmetto Commercial Properties represented, respectively, the seller, Two Hipp Properties LLC, and the buyer, Exclusively Bimmers LLC, in the $575,000 sale of 5.5 acres at 1161 College Park Road in Summerville.

Bob Nuttall and Lindsey Halter of Lee & Associates represented Mooring Capital Fund LLC in the $805,000 sale of a 3,247-square-foot office condominium at 1470 Tobias Gadson Blvd. Tim Harrison of Whitney Commercial Real Estate Services represented the buyer, Catherine Cole Ferndelli Living Trust.

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May
02

Recent Charleston Area CRE Leases

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leased-agreement-with-keysCharleston

Chris Fraser and Leslie Fellabom of Avison Young represented the landlord in leasing 3,930 square feet of office space at 480 East Bay St. to South Atlantic Bank.

Chad Yonce of Southeastern Management Group represented the landlord in leasing 1,000 square feet of retail space at 56 Queen St. The tenant, Mandala Health, was represented by Bryan Perrucci of Southeastern Management.

Amanda Reeves and Jack Owens of Lee & Associates represented Graft LLC in leasing commercial space at 700 King St. The landlord was represented by Charles Carmody of CBRE Inc.

David Grubbs and Scott Peevy of NAI Avant handled a 1,200-square-foot office lease expansion for M.B. Kahn Construction at 148½ East Bay St.

Mount Pleasant

Chip Shealy of CBRE Inc. represented Tidal Creek Dental in leasing 2262 square feet of medical office space at 1127 Queensborough Blvd. Blair Belk of Belk|Lucy represented the landlord.

Jon Chalfie of Lee & Associates represented the tenant, Atlantic Coast Advisory Group of Charleston LLC, and the landlord in leasing 2,138 square feet of office space at 300 W. Coleman Blvd.

Todd Garrett of Avison Young represented the landlord in leasing 2,000 square feet of office/warehouse space at 2561 Oscar Johnson Drive to LEI Systems. Tom McGee of CBRE Inc. represented the tenant.

Lindsey Halter of Lee & Associates represented Changes Counseling Center in leasing 1,778 square feet of office space at 9217 University Blvd. The landlord was represented by Robert Pratt of RE/MAX Pro Realty.

Mandy Coleman of National Restaurant Properties represented the tenant, Discount Zone LLC, in leasing 1292 square feet of commercial space at 3689 Dorchester Road.

Summerville

Brent Case and Zach Wade of Coldwell Banker Commercial Atlantic represented the tenant, Massage Serenity Sea, and the landlord in leasing 1,600 square feet of retail space at 10597 Dorchester Road.

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Mar
06

Coldwell Banker Commercial Atlantic Announces Transactions

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CBC atlanticGoose Creek – Brent Case, CCIM and Aaron Rowley of Coldwell Banker Commercial Atlantic represented the Buyer, Prescott Way, LLC, in the purchase of a 2.1 acre parcel for $595,000. This site will be developed into a multi-story, climate controlled self-storage space at 101 Prescott Way in Goose Creek, SC. Will Sherrod of Lee & Associates represented the Seller.

Goose Creek – Zach Wade of Coldwell Banker Commercial Atlantic represented the Landlord, 1218 Redbank LLC, and the tenant, Brothers Tire Shops LLC, in the lease of a 1,000-square-foot retail space at 1218 Redbank Rd, Unit 7, in Goose Creek, SC.

Charleston – Kristen Corri Krause of Coldwell Banker Commercial Atlantic Intl. / Historic District Real Estate represented the Tenant, Phislabs, in the lease of a 22,000-square-foot office space at 1505 Monrovia St. in Charleston SC.

Mount Pleasant – Brent Case, CCIM of Coldwell Banker Commercial Atlantic represented the Tenant, Honest 1 Auto, in the lease of a 7,813-square-foot auto shop/warehouse at 1406 BEn Sawyer Blvd. in Mount Pleasant, SC. Carmichael Harrison of The Beach Company represented the Landlord.

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Apr
04

Mt. Pleasant Considers Additional Lowe’s and Walmart Supercenter

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Live5News.com | Charleston, SC | News, Weather, Sports

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Jan
21

Wheeler to Buy 14 Centers from Piggly Wiggly Carolina

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sold signsWheeler Real Estate Investment Trust Inc. of Virginia has entered into an agreement to buy 14 shopping centers in Georgia and South Carolina. Wheeler is acquiring the properties for $71 million from Piggly Wiggly Carolina Co., a Mount Pleasant-based firm that sold 29 of its Piggly Wiggly supermarkets in 2012 to Bi-Lo and Harris Teeter. The Mount Pleasant company is a sister company to Piggly Wiggly. The deal is set to close Jan. 29.

Wheeler’s acquisition will include three Charleston shopping centers, as well as locations in Greenwood, Mullins, Bluffton, Georgetown, Pawleys Island, Lexington, St. Matthews, Columbia and Ridgeland in South Carolina and one location in Darien, Georgia. The combined properties make up more than 603,000 square feet and are 92 percent occupied, according to Wheeler Real Estate, which already owns 19 shopping centers in South Carolina.

 

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Jan
04

10,000 Apartment Units Coming to Charleston

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New Home ConstructionWithin the city of Charleston, more than 8,000 multifamily and town house units are either under construction, in the plan-review process or recently completed. An additional 645 units are in the works in North Charleston, along with over 1,500 units in Mount Pleasant and about 250 in Summerville.

To view the list of developments, visit the Charleston Regional Business Journal page HERE

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Nov
19

Two Charleston Apartment Complexes Sold

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paces watch6Kettler and the Stillman Group have purchased two apartment properties in Charleston, S.C., from Fairfield Paces Watch LLC and Fairfield Waverly LLC for a combined $58.55 million. Altogether, the properties total 472 garden apartment units.

The portfolio is made up of the Paces Watch Apartments in Mount Pleasant with 232 units, and Waverly Place Apartments in North Charleston with 240 units. The apartment communities are near downtown Charleston.

“We are going where there’s growth, and the Charleston market has outperformed,” Kettler CEO Robert C. Kettler said. “The submarkets around Charleston where Paces Watch and Waverly Place are located are experiencing significant economic expansion. This is a strategic push into the Charleston market.”

he joint venture plans both through interior and exterior upgrades at both properties. Before the transaction Fairfield managed Paces Watch and Waverly, whereas now Kettler Management will provide management services for both. The transaction was brokered by Dean Smith and John Heimburger from the Charlotte Office of ARA, a Newmark Company.

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Nov
06

Charleston Apartments Sold for $239,000/Unit

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riviera-at-seasideA New York real estate investment firm has added a Mount Pleasant apartment complex to its portfolio, paying $60.5 million for the Riviera at Seaside. The deal worked out to about $239,000 per unit.

The buyer is a group formed by AVR Realty of Yonkers, N.Y. The seller was Riviera at Seaside LLC, which was affiliated with The Beach Co. of Charleston, property records show.

The 253-unit apartment was completed last year. It is in the Seaside Farms mixed-use development, near the Isle of Palms Connector and Rifle Range Road.

AVR’s website shows that the Riviera acquisitsion is its only investment in the Charleston area. The company already owns seven apartment complexes in South Carolina. They are in Aiken, Boiling Springs, Columbia, Florence, Irmo, Lexington and Spartanburg.

READ MORE HERE

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Aug
04

Mount Pleasant to Hear Results of Growth Management Study

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question-mark1aResults of an independent study of Mount Pleasant’s proposed growth management plan will be unveiled Thursday.

The Charleston Metro Chamber of Commerce said it has commissioned the Urban Land Institute South Carolina to offer “an unbiased and honest assessment” of the plan. The public can hear results and recommendations at 5 p.m. at the Cooper River Room at Mount Pleasant Waterfront Park.

The management plan in the fastest-growing town proposes to curb the number of residential units, raise impact fees and increase taxes to acquire public land.

“This is a wonderful opportunity for the region to get expert, third-party input as we respond to opportunities and challenges with unprecedented growth. We are likely to hear about some new ideas and approaches, confirm known aspects and opportunities in the area, and perhaps hear some things we might not want to hear,” said Mary Graham, chief advancement officer at the chamber.

The study panel included experts in transportation and land use, economic development, urban planning, alternative financing and affordable housing.

READ MORE HERE

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Mar
05

More Apartments Planned for Charleston

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apartments-for-rentThere has been a fundamental shift in how people are choosing to live, and it’s being spearheaded by the millennial generation, according to Dan Doyle, vice president of development at The Beach Co.

On the surface, the Lowcountry appears to be experiencing a boom in construction of new apartment complexes. But Doyle sees it as more than just a temporary change in demand.

“For so long, people would strive and have this end goal of owning a home. I don’t think that’s the case as much today as it used to be,” he said. “A lot of it is related to the age demographic. The millennials, they are really driving this. There is a huge population coming into the workforce, and they’re really wanting a different type of lifestyle.”

Millennials — classified by the Pew Research Center as the generation born after 1980 — tend to not focus on the amount of space within an apartment, condominium, town house or single-family home. They typically prefer to live in communities that are within walking distance to their favorite locations.

READ MORE HERE

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Feb
10

Mount Pleasant to Limit Apartments?

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mount pleasant mapMount Pleasant is one of the fastest growing cities in the country with construction projects popping up all over the municipality north of the peninsula, but that might change according to Mayor Linda Page.

She says the percentage of multi-family dwellings is encroaching on the zoning limit of 30%. The city’s residential zoning plan aims to maintain a 70% home to 30% apartment ratio to mitigate overcrowding among other things.

As of Monday, the city has 10 newly approved or under construction apartments totaling more than 2500 units. Mayor Page says projects are still given the green light because there is such a high demand for them.”There’s challenges with saying we’re going to limit something, said Page, “That’s the problem with permit allocation or moratoriums a lot of it has to do with underlying zoning and what’s actually already allowed on the property.”

Mount Pleasant Town Council tell News 2 the percentage of apartments is close to the limit, but large housing developments already under construction like Carolina Park, Oyster Point, and others may naturally balance out the apartment to house ratio.

SOURCE

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Jan
12

Ground Broken for Gateway Mount Pleasant Hotel

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Gold Shovel in the GroundWork officially began this morning on a Marriott-branded hotel that will be one of two signature buildings for the Gateway Mount Pleasant project.

Landmark Enterprises, the developer for the project, along with Mount Pleasant town officials, Springbridge Development and Raines Hospitality, the hotel’s manager, braved the blustery, chilly weather to break ground on the seven-story, 110-room hotel. The hotel will operate under Marriott’s SpringHill Suites line.

The vision for the project began in 1970, when Landmark Enterprises President Gene Blanton acquired the 16 acres in and around the area where the hotel and an office building will now be built.

Jason Ward, vice president of development for Landmark, said Blanton has been infusing the development team at Landmark with his ideas for Gateway Mount Pleasant for years. Ward said that Landmark had built many commercial projects across the Charleston area, but that this one was still waiting for the right mix of what he described as “market, guts, smarts, luck, good partners, hotel brand, design consultant and lender.”

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Jan
08

Mixed Use Planned for Mount Pleasant

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mount pleasant mapA Spartanburg-based real estate firm plans to redevelop about 38 acres along U.S. Highway 17 in Mount Pleasant into apartments, commercial space, a tech incubator, a self-storage facility and a hotel. Johnson-Mount Pleasant Investments LLC, an affiliate of Spartanburg-based Johnson Development Associates, bought the property known as the Gregg Tract for $11.5 million out of bankruptcy court, according to Ben Graves, Johnson Development’s multifamily division president. The tract sits along Highway 17 between Interstate 526 and Town Centre in Mount Pleasant.

“We were approached by a friend in the real estate community about this parcel being a high-profile piece of property that’d be well-suited for mixed-use development. Since it was in bankruptcy court, we had the opportunity to move quickly,” Graves said, referring to former property owner William Maxwell Gregg II of Columbia, who filed for bankruptcy protection in 2013, according to S.C. Bankruptcy Court filings.

Plans call for a mix of residential and commercial space, including a 123-room hotel, a 600-unit self-storage facility, a 456-unit apartment complex, 62,000 square feet of retail space and an unspecified amount of office space. Graves did not disclose the name of the planned four-story hotel but said it is a national brand.

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Aug
11

New Retailers Heading to the Charleston Region

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New retail centers planned in Mount Pleasant and Summerville are expected to bring major big chains to the Charleston market for the first time.

Charlotte-based Atlantic Retail Properties plans to develop a 104,800-square-foot shopping center called the Shoppes at Oakland along U.S. Highway 17 in Mount Pleasant, adjacent to Blackbeard’s Cove Family Fun Park. The property was once used as Slammin’ Sammy’s Lighted Driving Range. Its anchor tenants, according to plans submitted to the town, will be Academy Sports and Aldi, two retailers that have never operated in the Lowcountry.

Town planner Christiane Farrell said construction likely wouldn’t begin until early next year.

Aldi is an international supermarket chain owned by Germany’s Albrecht family, who also own Trader Joe’s. Aldi operates nearly 1,300 small-format stores in the United States, and the company announced late last year that it intended to add 650 locations across the country over the next five years. Like Trader Joe’s, the grocer relies mostly on its own line of products that are often sold at lower prices than traditional brand-name groceries.

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Jul
23

Planned Mount Pleasant Development Worries Residents

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Next door to a vacant Food Lion, developers propose building a new grocery store off Long Point Road in Mount Pleasant along with fast-food restaurants and nearly 200 apartments.

Some residents of the nearby Belle Hall subdivision are already bracing for a fight. They say the development would create traffic problems on already-congested roads, while the proposed businesses would duplicate what’s already available within walking distance.

“We have plenty of gas stations and restaurants,” said Belle Hall resident Ryan Nelson. “They need to work first on the (traffic) flow on Long Point Road.”

Josh Martin, a consultant working with the developers, said the Belle Point development would generate $4 million in traffic impact fees for the town of Mount Pleasant, which the town could potentially use for road improvements. He said the developers, all of whom live on Daniel Island and regularly drive on Long Point Road, would naturally want good traffic flow near their new development.

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