Archive for Spartanburg

Oct
12

Magna Distribution Center Sold for $80/sf

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Magna Distribution Center for PR EmailHolliday Fenoglio Fowler, L.P. has announced the $18.5 million sale of Magna Distribution Center, a 229,950-square-foot, fully leased, Class A+ warehouse and distribution facility in the Greenville-Spartanburg area of Moore, South Carolina.

Recently completed in 2017, Magna Distribution Center is a build-to-suit for Magna Seating of America, Inc., an industry-leading advanced automotive seating manufacturer. The 229,500-square-foot building has an expansion capacity of approximately 50,000 square feet and features 214,450 square feet of production space, 15,500 square feet of office space, LED lighting, 50-by-50-foot column spacing, 32-foot clear height, 30 dock-high doors, 13 knock-out panels, 20 trailer stalls and 250 employee parking spaces. Situated on 19.71 acres within the 882-acre master-planned Tyger River Industrial Park North, Magna Distribution Center is situated along Route 290 and has access to Interstates 26 and 85, the industrial “backbone” of the southeast. Additionally, the property is in the Route 290 Industrial submarket, a major automotive hub that is approximately 10 miles from BMW’s 1,150-acre Greer manufacturing plant.

The HFF investment sales team representing the seller consisted of senior managing director Chris Norvell and director Patrick Nally. The seller was SunCap Property Group. A private investor purchased the asset.

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Oct
10

Spartanburg Industrial Building Sold for $1.35 Million

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sold_sign_postcardDrayton Calmes of Norvell Real Estate Group, represented the seller Marshall Bridge Capital, LLC in the sale of a 30,000 SF industrial building on a 3.30 acre parcel located at 1920 New Cut Road for $1,350,000. The property was fully leased to a wholesale tire distributor.

Located at northeast quadrant of Exit 17/State Road 42-40 (New Cut Road). One mile to I-85, 2 miles to I-26 & .25 mile to I-26, 2 miles to I-85, 16 miles to Greenville Spartanburg International Airport.

The buyer, a Charleston SC based investor, was represented by Alan Bolduc and Courtney Marous of Avison Young.

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Sep
27

$125 Million in Projects Underway in Spartanburg CBD

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Sep
07

Spartanburg Area Shopping Center Sold for $118/sf

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dorman centerIt’s been anything but a quiet summer at the lake for executives at Slate Retail Real Estate Investment Trust (SRT.UN-T). In the past three months, the REIT has purchased 10 U.S. shopping centers. Two of those announcements have come in the past five days, namely the purchases of North Lake Commons in Chicago and Dorman Centre in South Carolina.

The most recent deal is for the Dorman Centre, located just off I585 in Spartanburg, S.C., a few kilometres east of Charlotte. The shopping center is situated in a retail node and anchored by Walmart. It was bought for US$46 million ($118 per square foot) and is 97% occupied.

Slate says the purchase is expected to close in the third quarter.

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Aug
29

Spartanburg Apartments Sold for $46,400/Unit

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serenity aptsElevation Financial Group, LLC, provider of affordable housing for seniors and families, is pleased to announce the disposition of Elevation Real Property Fund V asset, Serenity Apartments® at Spartanburg. The 152-unit multifamily community sold for a purchase price of $7.05 million, or $46,381/unit, and represents the first disposition for Elevation Real Property Fund V. The transaction was brokered by the Charlotte office of Capstone Apartment Advisors.

Elevation purchased the multifamily apartment community from the original developer in 2015 for $4.05 million, or $26,315/unit, and immediately initiated approximately $1 million in renovations. Upgrades included new windows, new roofs, renovated unit interiors, and rebranding of the entire property. Consisting of one-bedroom garden-style units, the property was totally transformed by the vigorous revitalization. Through the strong oversight of Elevation Property Management, the community stabilized and consistently maintained an occupancy level at or above 95%.

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Aug
29

60 New Public Parking Spaces Coming to Spartanburg CBD

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parking lotAbout 60 new public parking spaces are on their way to downtown Spartanburg.

Spartanburg City Council on Monday night unanimously approved bids for demolition of the buildings at 177 W. Broad Street and 100 S. Spring Street for use as future temporary parking lots.

A small parking lot between the two buildings holds 28 parking spots. Assistant City Manager Chris Story said the building demolition would allow for 60 new spaces to fit in the area.

“We should be able to get started within the next month,” said David Cook, city construction project manager.

Along with demolition of the buildings, the work bids included asbestos and lead paint removal.

READ MORE HERE

 

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Aug
15

Coldwell Banker Commercial Caine Announces Transactions

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sold signsGreer:  Pete Brett, CCIM, David Sigmon, CCIM and Matt Vanvick of Coldwell Banker Commercial Caine represented Enigma Corporation (Seller) in the sale of +1.127 acres at 110 Sage Creek Way, to NV, LLC (Purchaser).

Greenville:  Pete Brett, CCIM, David Sigmon, CCIM and Matt Vanvick of Coldwell Banker Commercial Caine represented Brains on Fire Properties, LLC (Purchaser) in the purchase of a +5,330 SF office building on +0.12 acre at 1263 Pendleton St., from Mutual Home Store of Greenville, Inc. (Seller).

Spartanburg:  Tim Satterfield and Wiley North of Coldwell Banker Commercial Caine represented LeRhea R. Armstrong (Seller) in the sale of a +1,288 SF house on +1.07 acres for redevelopment at 2245 Southport Rd., to Jerome G. Bulman & Donald Bishop (Purchasers).

Spartanburg:  Tim Satterfield and Angela Halstead of Coldwell Banker Commercial Caine represented Charles N. Davis, Jr. and Susan D. Cantrell (Sellers) in the sale of a +1,900 SF retail building on +0.6 acre at 2850 E. Main St., to Burhan Abbas Raja (Purchaser).

Gaffney:  Tim Satterfield of Coldwell Banker Commercial Caine represented Sunny Hill Farms, Inc. (Seller) in the sale of +10.5 acres on Nancy Creek Rd., to Alfred Randall Moss & Arjana Ana Moss (Purchasers).

Leases

Greenville:  Robert Zimmerman of Coldwell Banker Commercial Caine represented Lever Studios, Inc. (Tenant) in the leasing of a +2,085 SF office space at 1320 Hampton Ave. Ext., Unit 4A, from Oceana Rapid, LLC (Landlord).

Greenville:  Matt Vanvick of Coldwell Banker Commercial Caine represented Hampton Doorway, LLC (Landlord) in the leasing of several small office suites at 217 E. Stone Ave. to The Art of Real Estate (Suites 31 & 33), Natural Glow Skincare (Suite 36), and Ali Waller Makeup & Skin (Suite 40) as Tenants. 

Greenville:  Pete Brett, CCIM, David Sigmon, CCIM and Matt Vanvick of Coldwell Banker Commercial Caine represented Mountain City Land and Improvement Co., LLC (Landlord) in the leasing of +6,158 SF of additional office space at INNOVATE, 148 River St., Suite 100, to Oobe Uniforms & Apparel, Inc. (Tenant).

Spartanburg:  Tim Satterfield of Coldwell Banker Commercial Caine represented Glorian Hayes (Landlord) in the leasing of a +2,500 SF retail/garage building at 18 Wells St., to Omar Davis (Tenant).

Spartanburg:  Tim Satterfield of Coldwell Banker Commercial Caine represented Mary Frances Poole (Landlord) in the leasing of a +16,250 SF industrial space at 140 Interstate Park Dr., to Cooks Power Equipment (Tenant).

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Jul
31

C&W | Thalhimer Sells Spartanburg Industrial Buildings

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3001 N Blackstock AerialCushman & Wakefield | Thalhimer has announced the sale of 3001 N. Blackstock Road, Buildings 1 and 2, in Spartanburg, South Carolina.

Crimson Palmetto Holdings, LLC purchased two industrial buildings comprised of 342,838 square feet and situated on 39.25 acres from RT Blackstock Complex, LLC for $5,400,000. RDI-USA, Inc. has been a tenant for over 7 years and will continue their occupancy.

Brian J. Young, CCIM, SIOR and Lyn Norton of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the seller.

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Jul
19

Industrial Absorption Up in Upstate Market

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avison young logoYear-over-year industrial absorption in the Upstate climbed from 4% in the first quarter of 2016 to more than 9% in the first quarter of 2017, according to a report from Avison Young.

From the first quarter of 2016 to the first quarter of 2017, nearly 800,000 square feet of industrial space was completed in the market, but the amount of industrial space under construction has dropped to under 100,000 square feet during Q1 2017.

While absorption has risen over the last year, vacancy has remained steady at around 6.9% year over year.

“Vacancy rates have not changed significantly with the amount of new inventory coming to the market,” the report said.

The report noted that the region continued to see build-to-suit projects and the expansion of facilities already in place in the first quarter.

READ MORE HERE

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May
22

NAI Earle Furman Announces Recent Sales

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NAI Earle Furman logo squareMauldin, South Carolina:  Keith Jones, CCIM of NAI Earle Furman represented the seller, Regional Management of South Carolina, in the sale of two office buildings totaling 8,273 SF located at 507 & 509 West Butler Road to JTB, LLC.

Chesnee, South Carolina:  Stuart Smith of NAI Earle Furman represented the seller, Peggy H. Phillips Living Trust, in the sale of 9.5 acres of land located at 2408 Bryant Road to Gibson and Gibson Property.

Simpsonville, South Carolina:  Keith Jones, CCIM of NAI Earle Furman represented the purchaser, Stage Hawk, LLC, in purchasing 35 acres of land at 1400 Old Stage Road from Ruby Lee Cantrell Hawkins Roberts Trust.

Spartanburg, South Carolina:  Andrew Babb of NAI Earle Furman represented the seller, First South Bank, in the sale of a 41,000 SF retail building located at 174 East Main Street to Good Wal Aug Smith, LLC.

Pauline, South Carolina:  Kevin Pogue of NAI Earle Furman represented the purchaser, William & Stephen Freeman, in purchasing 6.21 acres of land on Stagecoach Road from Sylvia Knox.

Columbia, South Carolina:  Jimmy Wright & Ted Lyerly, CCIM of NAI Earle Furman represented the seller in the sale of the 38,000 SF retail Fresh Market shopping center in Columbia, SC.  Peter Couchell, CCIM and Rob Schmidt with Furman Capital Advisors, the investment services division of NAI Earle Furman, represented the purchaser.

Greenville, South Carolina:  Earle Furman, Jr., SIOR of NAI Earle Furman represented the seller, Julius Garry Green, in the sale of a 45,000 SF retail strip center located at 2390 Laurens Road to SWR of Greenville, LLC.

Piedmont, South Carolina:  Towers Rice, CCIM of NAI Earle Furman represented the seller in the sale of 20.43 acres of land located on Durham Road to Kevin Gilreath.

Anderson, South Carolina:  Bernie Bastian and John Powell, CCIM of NAI Earle Furman represented the seller, 3B & V Properties, LLC, in the sale of a 7,000 SF retail property located at 134 North Main Street to Rogue Holdings, LLC.

Greenville, South Carolina:  Earle Furman, Jr., SIOR and Bill Sims of NAI Earle Furman represented the seller, Creek and Company, LLC, in the sale of a 6,000 SF office building located at 115 Halton Village Circle to Bank Building R, LLC.

Duncan, South Carolina:  Earle Furman, Jr., SIOR of NAI Earle Furman represented the seller, M & T Enterprises, Inc., in the sale of the former Plastic Omnium Building, an 80,000 SF industrial building located at 961 Berry Shoals Road.  Kevin Pogue, also of NAI Earle Furman, represented the purchaser, ATA Properties, LLC.

Spartanburg, South Carolina:  Cole Morris of NAI Earle Furman represented the seller, Westside Holdings, LLC in the sale of a 108-unit self-storage facility located at 115 John Dodd Road to 512 Holdings, LLC.

Greenville, South Carolina:  John Baldwin, CCIM of NAI Earle Furman represented the seller, 3H & S, LLC, in the sale of a 19,000 SF industrial building located at 108 Park Place Court to Richfair Holdings, Inc.

Greenville, South Carolina:  Alex Campbell of NAI Earle Furman represented the seller, GHS Health Resources, Inc., in the sale of a 6,582 SF office building located at 81 Pointe Circle to T. Bishop Properties Corp.

Clinton, South Carolina:  Bill Sims of NAI Earle Furman represented the seller, Browning Clinton, LLC, in the sale of a 9,960 SF Dollar Tree property located at 117 Jacobs Highway.  Earle Furman, Jr., SIOR, also of NAI Earle Furman represented the purchaser, Julius Garry Green, in the transaction.

Seneca, South Carolina:  John Gray, CCIM and Drew Stamm of NAI Earle Furman represented the seller, James Hanahan, Jr., in the sale of the Upstate Family Medicine building, a 9,743 SF office investment property leased to Greenville Health System and located at 12016 North Radio Station Road, to NV, LLC.

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Apr
26

Spartanburg Manufacturing Facility Sold

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Lyons Industrial Properties has announced that they have sold the BICO South manufacturing facility to Colorado investors. The 33,404 SF facility located at 4231 Orchard Park Blvd., Spartanburg, SC offers 30′ ceilings, 5 cranes, heavy power, 3 large drive in doors, 1 dock door, and 3,300 SF of office space.

Bobby Lyons, CCIM and Adam Padgett, VP of Operations, represented BICO on the sale of the facility. The investors were self represented. BICO South is a division of BICO Steel Corporation based out of Akron, Ohio and they have been in business since 1896. Lyons Industrial now represents the new owners in offering the property for lease.

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Mar
13

Coldwell Banker Commercial Caine Announces Sales

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cbcc-logoGreenville: Pete Brett, CCIM, David Sigmon, CCIM and Matt Vanvick of Coldwell Banker Commercial Caine represented Kellett Properties, LLC (Seller) in the sale of a +11,628 SF industrial facility on +2.96 acres at 201 Beverly Road, to Ferguson Builders, LLC (Purchaser).

Greenville: Rick Cauthen, P.E. of Coldwell Banker Commercial Caine represented Four Seasons Properties, LLC (Seller) in the sale of +2.12 acres at 6 McPrice Ct., to Parador Investments, LLC (Purchaser).

Taylors: Robert Zimmerman of Coldwell Banker Commercial Caine represented Wade Hampton Plaza, LLC (Seller) in the sale of a +44,274 SF retail shopping center on +3.2 acres at 2830 Wade Hampton Blvd., to JDG Properties, LLC (Purchaser).

Greer: Graham Howle and Lakin Parr of Coldwell Banker Commercial Caine represented Ben F. Killingsworth, Sr. (Seller) in the sale of a +2,450 SF retail building on +0.6 acre at 102 Park Ave., to Timothy A. Freeman (Purchaser).

Greer: Tim Satterfield of Coldwell Banker Commercial Caine represented Virginia Sue Suddeth (Seller) in the sale of +7.1 acres at 871 Victor Hill Rd., to Plastic Omnium Auto Exterior, LLC (Purchaser).

Spartanburg: Tim Satterfield of Coldwell Banker Commercial Caine represented Wiuka Co., LLC (Purchaser) in the purchase of a +1,684 SF residential duplex on +0.37 acre at 123 Canterbury Rd., from Jolyn P. Lewis (Seller).

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Feb
27

Boiling Springs Apartment Community Sold for $19M

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boiling springsThe Villas at Lawson Creek, a 202-unit apartment community in Boiling Springs, was recently sold for $19 million.

Spartanburg County property records showed Connecticut-based Hamilton Point Investments purchased the multifamily complex at 9159 Asheville Highway from Greenville-based Graycliff Capital Partners on Jan. 12.

Built in 2009, the Villas at Lawson Creek has a mix of one-, two- and three-bedroom apartments, a cardio fitness center, movie theater, tropical pool, two-story clubhouse, business center, community pavilion, patio sunrooms, car care facility and a 24-hour laundry facility, according to Graycliff Capital Partners.

Chris Yeagle and Kyle Chase with On Eleven Partners, headquartered in Mount Pleasant, brokered the deal.

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Nov
08

Two Spartanburg Apartment Communities Sold

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sold-sign6Tony Bonitati, Kay Hill and Bern DuPree represented Georgetown Holdings, LLC in the sale of two Spartanburg, SC multifamily properties totaling 166 units. Georgetown Village located at 1421 John B White Sr. Boulevard (74 units) and Timberlane Apartments located at 106 Kensington Drive (92 units) were sold to Cedar Grove SC II, LLC. The buyer was not represented in the transaction. The portfolio sold for $8,750,000, or $52,711 per unit. Both properties were fully occupied at the time of sale.

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Oct
26

NAI Earle Furman Announces Sale Transactions

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NAI Earle Furman logo squareGreenville, SC: Earle Furman, Jr, SIOR of NAI Earle Furman represented the seller, Park Sterling Bank, in the sale of a 6.1 acre land parcel on Villa Road to Riverplace Office III, Inc.

Travelers Rest, SC: Drew Stamm & John Gray, CCIM of NAI Earle Furman represented the purchaser, Pivot Pizza Company, LLC, in procuring a 2,000 SF flex/retail property located at 164 South Main Street from Specialized-Mathews, LLC.

Clinton, SC: Cameron Babbitt of NAI Earle Furman represented the seller, GYG, LLC, in the sale and Hunter Garrett, CCIM, SIOR and John Staunton represented the buyer in the purchase of College Station, a 41,298 SF retail investment property.

Spartanburg, SC: Jake Van Gieson and Graham Mullikin of NAI Earle Furman represented the seller, Southern Specialty Properties of SC, LLC, in the sale of a 16-unit manufactured housing property at 201 Fernwood Park Drive. Cole Morris and Chris Harrison, also of NAI Earle Furman, represented the purchaser, JBL Properties, LLC.

Woodruff, SC: Kevin Pogue of NAI Earle Furman represented the seller, Dorn & Scott Properties, LLC, in the sale of a 3,000 SF retail property at 123 South Main Street to Farah Enterprises, LLC.

Spartanburg, SC: Kevin Pogue of NAI Earle Furman represented the seller, 1854 East Main, LLC, in the sale of a 5,000 SF retail property at 1854 East Main Street to GGH, LLC.

Greenville, SC: Hunter Garrett, CCIM, SIOR and John Staunton of NAI Earle Furman represented the seller, United Community Bank, in the sale of a 2,135 SF office building at 27 West Road to 722 Grove Road to 722 Grove Road, LLC.

Categories : Greenville, Spartanburg
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