Archive for Rock Hill

Jun
05

300 Acres on Lake Wylie to be Developed

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lake wylieDuke Energy is selling a major piece of property along Lake Wylie.

Residents in the Concord Road area received an invitation to a June 7 open house to discuss plans. Duke officials said they will answer questions during a 5-7 p.m. drop-in at the Clover School District Community YMCA.

The invitation shows a site that, according to county land records, is about 300 acres. It doesn’t specify how much of the property might be sold, or what type of land use the sale might involve. Current zoning is medium density residential. It allows for a variety of residential uses from single-family to patio homes, townhomes and apartments.

“Like other businesses, Duke Energy continuously evaluates the best use of its assets, including real estate,” said company spokesperson Sara Collins. “We own a tract of land on Concord Road that we determined we no longer need for business purposes, including electric generation. Through a land-use analysis, we explored several options for this property and, ultimately, decided the best use is to sell the property.”

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Jan
23

NAI Avant Handles Sale of Used Car Dealership

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driveway carsNAI Avant is pleased to announce the recent sale of 830 Anderson Road in Rock Hill, SC. The property currently operates as an auto dealership containing approximately ±10,000 SF of improvements sitting on 4.30 acres.

NAI Avant represented the buyer, JTMG, LLC in the $1,200,000 transaction. The property was sold by Anderson Road, LLC.

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Dec
13

Rock Hill Self Storage Facility Sold

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kwik-storageKwik Storage, located at 1409 Albright Rd in Rock Hill, SC, was sold in November to a regional buyer and commanded a sales price of approximately $77 per RSF.

Dale C. Eisenman, CCIM of Midcoast Properties, Inc. represented the seller and had the listing to market the facility.

The facility is comprised of 187 climate and traditional self storage units totaling 21,200 +/- RSF, a free standing office building, a laundromat and a free standing pharmacy on 2.7 acres. Amenities include security cameras, computerized gate entrance, fencing and onsite expansion opportunity. Currently, the pharmacy is leased for $2,200 per month, and the laundromat is leased for $5,000 per month. The seller owns the laundromat business and is willing to rent that space as a laundromat for up to one year. There is room on site for an additional 2 self storage buildings GSF totaling 13,200. The laundromat building could also be converted to climate controlled self storage.

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Aug
03

New Spec Building Planned for Rock Hill

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rock hill edThe Waterford Business Park will soon be expanding with the addition of a second office building to be constructed with hopes of luring more business to Rock Hill. The Rock Hill Economic Development Corporation (RHEDC) announced Wednesday that a second speculative building would be built in the business park area.

Stephen Turner, executive director of the RHEDC, said he’s optimistic that the new spec building can sell as quickly as the initial one did, a move that local experts say would help bolster the city’s identity as an attraction to corporate entities.

Speculative buildings are constructed with the intention of placing the structure on the market without a buyer waiting for it.

The initial building in Waterford Business Park was constructed in fall 2014 and received a letter of interest as early as the following December.

In the upcoming weeks, Rock Hill-based Cope Construction will begin work on the latest 40,000-square-foot spec building on a 7.5-acre site on Apex Drive.

“There’s a strong demand for space in the Rock Hill/Charlotte market,” said Turner. The new project was made possible, officials said, by a $1.3 million, three-year interest-free loan from Santee Cooper’s economic development loan program.

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Feb
12

Tega Cay Development Could Add 600 Homes

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New Homes SignA public hearing scheduled for Tuesday will focus on a plan that could add 600 homes to Tega Cay, along with land for business and recreation uses. Windhaven would be a planned development pulling together nine properties, most in unincorporated York County, some already inside the city. The properties, north of Gold Hill Road, total more than 75 acres. Most of the property would be annexed.

The initial proposal had up to 680 new homes. Changes to the plan after the city Planning Commission reviewed it this week would cap the number of homes at 600. The commission doesn’t offer formal recommendations until after public hearings. The plan would set aside 20 acres for the city to develop for recreation uses, a site for a future school and up to eight acres of commercial property. The residential uses will vary.

“It’s a mix of residential uses,” said Susan Britt, city planning and development manager. “It could include single-family attached, townhomes, patio homes.”

The Tega Cay City Council will meet with the Planning Commission at 6 p.m. Tuesday at the Glennon Center. A public hearing will be held on the proposal.

SOURCE

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Jul
09

Beacon Partners to Build Spec Building in York County

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Beacon PartnersCharlotte developer Beacon Partners — which already has an extensive presence in York County — plans on adding a new speculative building to its portfolio in Fort Mill.

The Charlotte Business Journal reports the real estate firm plans to build a 50,400 square-foot speculative, or ready-to-suit, building on eight acres adjacent to the Shutterfly, Inc. facility near Interstate 77 and S.C. 160.

This is Beacon’s second speculative site in York County. In 2014, Beacon built a speculative building in the Riverwalk Business Park nearly five times the size of the planned Fort Mill building at 277,000 square feet.

Beacon has already leased a portion of the Rock Hill property to logistics firm Exel Holdings.

Speculative buildings are popular among developers and are built as ‘shell’ buildings designed to fit a buyer’s needs quickly.

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Jun
09

New Apartments for Downtown Rock Hill?

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woolworth-RHA small, less than an acre parcel at the corner of East Main Street and Dave Lyle Boulevard may become the site of apartments.

On Monday the Rock Hill City Council will consider selling the land for $525,000 to the developers Lat Purser and Associates of Charlotte and The Tuttle Co. of Rock Hill.

The two companies plan to build apartments at the former Woolworth site, now called 139 Main.

When contacted Friday, Skip Tuttle declined to comment on the pending purchase of the site at Main Street and Dave Lyle Boulevard.

According to information in the council packet, Lat Purser and The Tuttle Co. intend to build apartments at the site which is adjacent to the Black Street parking deck.

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Jun
02

Rock Hill to Increase Apartment Restrictions

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building permitRock Hill is setting new rules for housing development after its temporary ban on apartment construction comes to an end later this year – but developers might not like some of the restrictions included in the proposed zoning changes.

In November, the city council passed a nine-month moratorium on new apartment construction within the city limits, citing a “significant increase” in permit requests for new multi-family housing in the city. The council later extended the moratorium to a full year while city staff evaluated new zoning rules for all kinds of new housing.

The proposal adopted last week creates three new zoning districts – single-family attached housing, multi-family, and mixed-use – each with new rules the city hopes will limit over-development and create neighborhoods that fit better with the overall community.

It would go into effect if the council gives its final approval at its next meeting on June 8.

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Apr
17

MHA Sells Five SC Apartment Communities

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Multi Housing Advisorssold signs (MHA) has arranged, in separate transactions, the sales of five South Carolina apartment communities for a total of $52.6 million. Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the sellers in the transactions.

Details of the deals are below:

  • Greystone & Co. sold the 152-unit The Reserve at Cavalier and the 130-unit Hampton Forest, located in Greenville, to two separate funds controlled by Monument Capital Management.
  • Applegate & Co. sold the 312-unit Polo Village, located in Columbia, to an affiliate of EBSCO Income Properties, LLC.
  • LNR Partners sold the 176-unit Pocalla Springs, located in Sumter, to an undisclosed buyer.
  • Southwood Realty sold the 132-unit Heather Heights, located in Rock Hill, to Varden Capital Properties.

These transactions come after a very busy 2014 for MHA. Last year, the 13-year-old firm closed 129 multifamily investment sales in the region, more than any other brokerage firm, according to CoStar data. MHA’s transactions totaled $1.09 billion in sales volume and included 21,500 units.

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Apr
14

Rock Hill Apartment Construction Ban Extended

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construction moratoriumRock Hill’s moratorium on new apartments will stand for at least another three months.

On Monday, the City Council approved an extension of the moratorium, meaning that by the time the ban ends in October, no new multifamily housing units will have been approved within Rock Hill city limits for a full year.

At the same time, the council accepted a study by city planners calling for zoning changes to limit the location, appearance and scale of future multifamily housing construction in the city.

The move follows the council’s decision in November to place a nine-month moratorium on construction of apartments, condos and townhouses throughout the city. Citing an uptick in housing construction after the recession, city leaders wanted to ensure new construction fit in with Rock Hill’s long-term development goals. At the time the moratorium went into effect, more than 1,200 residential units already were under construction or had received city approval.

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Apr
06

Fort Mill Class A Office Buildings Sold for $222/SF

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kingsly parkDTZ has announced the sale of three Class A office buildings in Kingsley Park, a corporate office campus in Fort Mill, SC, outside Charlotte. A DTZ Capital Markets team including Senior Managing Director Rob Cochran and Associate Vice President Jared Londry represented the sellers, a joint venture between Childress Klein and The Springs Company.

The buildings, which together total 178,317 square feet, traded to Waitt Company, an Omaha, NE-based investor, for $39.5 million, or $222 per square foot. Kingsley Park is Waitt Company’s first real estate investment in the Carolinas.

“This offering drew a tremendous response,” said Mr. Cochran. “We received multiple highly competitive offers over several rounds of bidding from local and national investors, many of whom were new players in this market. The transaction highlights the recent surge in demand for core suburban office product. The Kingsley Park sale is the most recent of several notable transactions in Fort Mill in recent months. Both LPL Financial and The Lash Group announced relocations to the area and are building new corporate campuses across the street from Kingsley Park, ultimately creating 5,000 jobs and 1 million square feet of new office space.”

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Mar
02

I-77 Corridor Near Rock Hill Booming

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rock hill signIf you want to know why North Carolina lawmakers are scrambling to beef up the state’s business incentives programs, drive a few miles south down Interstate 77.

From the state line to Rock Hill, Charlotte’s neighbors to the south are experiencing a boom, fueled in large part by projects South Carolina either lured from Charlotte or beat out North Carolina to win. The common thread: big incentives packages that North Carolina couldn’t match.

The point was driven home Thursday, when South Carolina Gov. Nikki Haley and other economic development officials broke ground on LPL Financial’s new headquarters in Fort Mill. The company is moving about 1,000 workers from Charlotte to the 450,000-square-foot new campus in Kingsley Park and plans to eventually employ 3,000 workers there.

“Our vision for the future development of Fort Mill is not simply to be a bedroom community for Charlotte,” said Fort Mill Mayor Danny Funderburk. He said the upstate will compete for jobs from Charlotte just as if they were jobs from anywhere else.

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Jan
13

Fort Mill Ross Distribution Center Sold

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ross fort mill saleA Charlotte-based real estate investment management firm has purchased a Ross Stores distribution center in Fort Mill for $14 million, commercial real estate investment firm DTZ said Monday.

The building off Interstate 77 at Exit 88 totals more than 255,000 square feet. The distribution center is 100% leased by Ross, which operates Ross Dress for Less stores.

DTZ represented the seller, which declined to be identified. Property tax records show the previous owner was an affiliate of Aegon USA Realty Advisors, a subsidiary of Aegon Asset Management. The purchaser was Beacon Industrial, a Charlotte-based firm.

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Sep
10

$3.5 Million Office/Retail Building Planned for Rock Hill

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A Rock Hill CPA firm is planning a $3.5 million office and retail building in the Riverwalk mixed-use center in Rock Hill.

The building, which will have a view of the Catawba River, will also be the new headquarters for the 17-employee Bernard N. Ackerman CPA firm. The firm’s president, Bernie Ackerman, says he hope his building and another commercial building at Riverwalk will spur other commercial activity at Riverwalk.

“Riverwalk will be the apex of York County,” he says in a telephone conversation this morning. That particularly applies to his firm, which has clients in Charlotte, Fort Mill, Lancaster County and York.“It puts us right in the middle,” he says.

Construction starts on the 18,000-square-foot building next week, and Ackerman is planning a celebration for the completion of the building on about Aug. 1, 2015. Simon & Watson Construction Inc. of Fort Mill will serve as general contractor for the facility.

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Sep
09

Fort Mill CBD Gets New Restaurants

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The vision Fort Mill leaders have for downtown continues.

Main Street should have a new restaurant by the end of the year. Jason Cloud, formerly of Cloud Nine Martini & Tapas Bar in Baxter, plans to open the new eatery at 213 Main St., most recently home to United Artisans. “We’re a month or two from getting going,” Cloud said.

Plans include a 2,000-square-foot deck in the grassy area between the restaurant and bandstand that used to be Tony’s Pizza, which was destroyed by fire in 2007. Cloud thinks opening could happen in two months, but town and historic review board approvals are still needed. Restaurant names are still being discussed.

“We’re still working on that,” Cloud said. “We’ve still got a few names in the air.”

The menu will include burgers, salads, health food options, milkshakes and other items. Cloud expects a different offering from neighboring Local Dish, and that the two restaurants can feed off each other. The new restaurant could help achieve the town’s goals of bringing people downtown – and keeping them there.

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