Archive for Summerville

Aug
13

800 Homes Planned for Summerville

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A national homebuilder is looking to build a new gated community in the Summerville area with more than 800 homes.

New Jersey-based Hovnanian Enterprises Inc. plans to build Four Seasons at Lakes of Cane Bay in Summerville, according to a news release. The company expects to open its welcome center in the fall.

The 4,300-acre neighborhood includes The Market at Cane Bay, the Del Webb and Sanctuary Cove communities and four subdivisions in the Old Rice Retreat community. There are also Dan Ryan Builders and Lennar Homes communities in the neighborhood. A high school and elementary school opened in 2008 and 2009, respectively, and a middle school followed in 2012.

Homeowners in the new community will have access to seven miles of navigable waterways, a 250-acre lake and more than 10 miles of nature trails and pathways, the news release said.

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Jul
10

$30 Million Mixed Use Development Approved for Summerville

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Summerville’s town council on Wednesday night signed off on a $30 million economic development package for its downtown area. The plan — called the Dorchester Hotel project — includes a 66-room, four-story hotel with rooftop terrace, an upscale restaurant, retail space, a parking garage, and nearly three dozen condos.

“This project is an answer to requests many Summerville residents have made for an events facility, more public downtown parking, and condominiums where residents can live, work, shop and dine in downtown without having to drive,” said Mayor Bill Collins.

The council on Wednesday gave approval for Collins to move ahead with negotiating the project with Applegate & Co. of North Charleston.

The project will be built on land purchased by the town several years ago on Cedar Street. The current plan puts an events area beside the hotel and condos wrapping around the sides of the parking garage. Town officials said the town will pay for construction of the events building and the parking garage through revenue bonds from hospitality taxes. The hotel and condos will be paid for by the builder, officials said.

The town will own the events facility and the parking garage but they will be managed under contract, officials added. Construction is expected to begin in the spring of 2015 and is expected to take 18 to 24 months to complete.

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Jun
30

Charleston Residential Market Leads Most of State

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The tri-county residential real estate market continues to hold its own compared to its peers throughout the Palmetto State.

A recent statewide report by South Carolina Realtors, a Columbia-based trade group, shows the Charleston region leads the state in volume of sales and fewest number of days for a home to sell. This has been a recurring theme for the last several months.

The trade group’s report shows that through the first five months of the year, the tri-county region had 5,042 home sales. That compared to 3,896 transactions in the Coastal Carolina region and 3,645 for Greater Greenville.

The report says the average home in the Charleston area was on the market 78 days from the time it was listed to the point of sale for the January-May period, seven fewer days from the year-earlier period. The figure for Greenville was 90 days, down from 96 days last year.

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Jan
08

Summerville Industrial Building Sold

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Cushman & Wakefield | Thalhimer has announced the sale of an industrial building at 2745 West 5th North Street in Summerville, South Carolina.

Carr Properties, LLC purchased the approx. 32,000 sq.ft. light industrial property situated on 3 acres from 2745 Investments LLC for $775,000 for development of a proposed self-storage facility. Property consists of 5 buildings that have been built over the years as the owner expanded. The buildings are connected by rollup doors and can be locked to limit access.

Mark Erickson and Philip Owens with Cushman & Wakefield | Thalhimer represented the seller.

 

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Sep
03

Summerville Self Storage Facilities Sold

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SSG Summerville II LLC, a subsidiary of Global Income Fund Inc., acquired two storage properties in Summerville last month.

Global Income Fund, a self-storage investment manager based in Brooklyn, N.Y., is looking to acquire other storage facilities in the Charleston market, said company president Mark Winmill.

SSG recently purchased the facility at 900 N. Gum St. from Mini Warehouses of Summerville LLC for $1.3 million. The property is a 36,600-square-foot, 236-unit facility on roughly 2.5 acres. The facility has traditional and portable storage units, along with outside recreational vehicle and boat parking spaces.

SSG also recently purchased a property on Old Trolley Road from Pack Rat Self Storage for an undisclosed amount. That property is a 72,800-square-foot, 559-unit self-storage facility on 5.04 acres. It includes traditional storage units and climate-controlled units.

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Aug
13

Summerville Plaza Shopping Center Sold

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Ferncroft Capital has purchased The Summerville Plaza Shopping Center, a 121,000-square-foot property in Summerville, for $13.35 million. Atrium Buildings Inc., the general contractor, is renovating the property in order to bring in Harris Teeter as the center’s anchor. Piggly Wiggly formerly anchored the shopping center, but its lease expired in June. It is situated on a 13.42 acre site.  The architecture, lighting and landscaping will also be upgraded. The new owners will also change the name to Sawmill Village because of its proximity to the Sawmill Branch Canal that is located behind the property. Construction is scheduled for a fall 2014 completion.  Ferncroft Capital has retained The Bell Moore Group to continue to lease and manage the property. Ted Barnes with Argus Development Group will oversee the construction of the center.

Rob CarterAlex Quarrier, and David Webb of Berkeley Capital Advisors arranged the transaction.

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Jun
14

New Shopping Center for Summerville

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Summerville has suddenly picked up the pace with new retail development, some of them tying their future to several big housing and commercial developments cropping up to the east of Interstate 26 and Highway 17-A.

At least seven new shops will open soon, and another new shopping center is on the way.

Gramling Brothers Real Estate & Development Co. will begin work in the next 90 days on a nearly 60,000-square-foot shopping center where the former Strobel Tire, Auto and Truck Service stood at 1101 N. Main St., just south of Berlin G. Myers Parkway, according to Gramling’s Mikell Harper. The six-acre parcel will include a 40,000- to 50,000-square-foot grocery store and another anchor. Speculation is that Earth Fare is an option. An Earth Fare spokeswoman did not return a call or email for comment Wednesday.

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