Archive for Uncategorized

Apr
17

NAI Avant Closes ±20,791 Square Foot Industrial Sale

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gilbertNAI Avant has announced the sale of ±20,791 square foot of warehouse space at 4335 Augusta Highway in Gilbert, South Carolina. Senior brokers Nick Stomski, SIOR and Rob Lapin represented the seller, Branning Property Management, LLC. Robertson Family Holdings, LLC purchased the property for $935,000.

The property features two buildings, totaling ±20,791 square feet of office and warehouse space, on ±5.45 acres of land. Building 1 consists of ±8,991 square feet of professional office space while Building 2 consists of ±11,800 square feet of office and manufacturing/lab space.

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Apr
17

Vista Capital Management Awarded Management Contract

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VistaCMVista Capital Management Group has announced that it has been awarded management of three multifamily communities totaling 400 units. The communities, Cameron Courts Weldon Heights, Linwood Terrace, and Mountain View, are located in Gastonia, North Carolina. Formerly public housing properties, Vista Capital will oversee their conversion to low income housing tax credit communities.

While already established in Hendersonville, Vista Capital is proud to expand their reach further into North Carolina with the addition of these 400 units in Gastonia. Managing a portfolio in excess of $250 million, Vista Capital Management provides property and asset management services throughout the Southeastern and Mid-Atlantic regions of the United States, including South Carolina, North Carolina, Virginia, Maryland, and Indiana.

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Apr
17

Texas Roadhouse Ground Lease Sold

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berkeley capBerkeley Capital Advisors has announced the sale of the Texas Roadhouse Ground Lease in Aberdeen (Pinehurst Area), NC for $2.03MM. Located at 1301 North Sandhills Blvd., Texas Roadhouse had 10 years remaining on the lease at time of sale. The 1.22 acre site is improved with the 6,150 square foot Texas Roadhouse restaurant, which was built in 2012.

Steve and Ransome exclusively represented the seller in the transaction.

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Mar
01

S.C. Hotels Post Strong Occupancy and RevPAR Figures

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hotelStatewide revenue per available room increased 2.2% in December 2017 for S.C. hotels and grew 4.6% for the year, the S.C. Department of Parks, Recreation & Tourism said Wednesday.

RevPAR, as the tourism impact indicator is known, stood at $43.12 in December. The annual increase outperformed both national (3%) and South Atlantic regional (4.6%) averages.

State parks also saw a revenue increase in December and for the year. Compared to a fall/winter of 2016 affected by Hurricane Matthew, state parks revenue rose 18% in December and 18.3% year-to-date. Compared to revenue averages, the yearly increase was closer to 4%.

Three of the state’s major airports ended 2017 with year-to-date increases in deplanements, led by Myrtle Beach International Airport’s 16.7% jump. Myrtle Beach saw a 21.9% deplanement rise from December 2016 to December 2017.

READ MORE HERE

 

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Feb
19

Flagship Properties Announces Transactions

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flagshipFlagship Properties has announced the following transactions:

  • Josh Tew and Caldwell Johnston, of Flagship Properties, represented the landlord in the office lease of 2,000 square feet to Everest Counseling Associates at 880 S. Pleasantburg Drive, Suite F.
  • Josh Tew, of Flagship Properties, represented the landlord in the flex-space lease of 5,200 square feet to Handeck Investments LLC, at 2421 New Easley Highway, Suites A and C.
  • Caldwell Johnston, of Flagship Properties, represented the landlord in the flex-space lease of 2,500 square feet to Flowerlina LLC, at 4013 Pelham Court in Greenville.

 

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Dec
11

Joyner Commercial Announces Transactions

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joyner commercialJoyner Commercial, the Commercial Division of Berkshire Hathaway HomeServices C. Dan Joyner Realtors®, has announced the following transactions completed by its team of commercial real estate professionals.

Matt Carter, CCIM and Craig Leduc represented the Seller, in the sale of a 15,000±SF office building at 135 Edinburg Ct in Greenville, SC to MB4 midtown LLC.

Joe Teague and Hays Reynolds represented the landlord in a lease, 900± SF office suite to Creative Engineers at 330 Pelham Rd Suite 102 Greenville, SC

Joe Teague represented the landlord, in a lease of retail space of 1,500±SF at 1791 Woodruff Rd Suite B to Local Map Co. in Greenville, SC.

Bryon Culbertson represented the owner, OHI Assets in a sale of 9,000± medical building at 721 W. Curtis St Simpsonville, SC to Lakefield Properties LLC.

Michael Joseph represented the buyer, Mr. Simmons in a sale of industrial land at 301 Woodruff Rd in Greenville, SC.

Nelson Garrison represented the seller and buyer of a 1.4 acres lot with a flex building for use of Terminix Services at 3608 Fernandina Rd Columbia SC.

Bryon Culbertson represented the Tenant CCFT Rapid Ready LLC in a lease of 1,200± office space at 413 Vardry St Suite 7 in Greenville, SC.

Wayne Smith represented the Tenant Units Mobile Storage of Greenville LLC in a 16,000±SF office building Lease at 308 Pennsylvania Ave Greer, SC.

Greg Huff represented the owner in a sale of a 3,750±SF brick building at 523 Sulphur Springs Rd in Greenville, SC to LaMesa Del Padre Church.

Bryon Culbertson represented the Landlord NV LLC and Tenant ProConsultants of a lease of 2,270± SF office space at 213 Bulter Rd Suite D in Mauldin, SC

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Nov
07

Cherryville Self Storage Facility Sold

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alcomAlcom Mini Storage, located in Cherryville, NC, was sold in late October to an out of state buyer. Located on over 4 acres, this property offers over 20,000 RSF, with 123 traditional self storage units, RV and boat parking, a rental office and a 5,000 SF warehouse. There is also the opportunity for expansion.

Michael Morrison, Associate Broker with Midcoast Properties, Inc., led this effort on the firm’s behalf.

The facility was opened around 2007 with the last expansion in 2010, and enjoys occupancy of 100%.

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Oct
19

It’s Property Tax Bill Time……

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tax appeal approved thinIf you own or manage property in South Carolina, you will be receiving your property tax bills shortly, if you haven’t already. As you know, taxes are calculated by multiplying the taxable value by the assessment ratio (4% for owner occupied residential and 6% for most others) then multiplied by the millage rate. The only part of the equation that can be appealed is the taxable value. Be sure to review this value closely, and determine if it is reasonable.  If you aren’t sure that the taxable value of  your commercial property is reasonable, email me and I will gladly review it. As a licensed real estate  appraiser, I represent commercial property owners in the real property tax appeal process regularly.

Michael Dodds, MAI, CCIM    mdodds@irr.com

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Oct
10

Panattoni to Build Spec Building in Duncan

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Spec-WarehouseCBRE announced Panattoni Development Company, Inc.’s 373,320-square-foot speculative project at Apple Valley Industrial Park in Duncan. Panattoni recently purchased the 39 acres in Spartanburg County and will invest more than $22 million in the new development.

The first building consisting of 177,320 square feet in Apple Valley Industrial Park has been pre-leased to an automotive related tenant. CBRE’s Marcus Cornelius, and Broadstreet Partners, LLC’s Ryan Koop represented PDC in the transaction.

Apple Valley Industrial Park is set for Q2 2018 delivery. CBRE and Broadstreet Partners are working with Panattoni to market the remaining 196,000 square feet available for lease. Located midway between Greenville and Spartanburg, the park is in close proximity to Interstate 85 and BMW and offers new, Class A construction and flexibility for either single-tenant or multi-tenant users.

READ MORE HERE

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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.

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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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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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Apr
18

Thank You Brokers and Leasing Agents

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thank-you-note-1I wanted to thank the brokers and leasing agents that routinely provide assistance in verifying the sales and leases that are used in our appraisal process. Integra Realty Resources wants the best quality data in our database, and information from these real estate professionals is invaluable. I recognize that responding to phone calls and emails regarding a transaction can be a burden, but it is greatly appreciated.

Michael Dodds

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Apr
17

Check Out 10 of the Tallest Buildings Under Construction

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11_View_from_the_cloudsFrank Lloyd Wright once proposed The Illinois, a mile-high skyscraper set on the shore of Lake Michigan in Chicago, a towering giant of a building powered by atomic elevators. It’s clear symbol of the current race to raise skylines around the world that Wright’s vision from the ’50s, yet to be realized, is coming closer and closer to reality.

Developments in building technology and a surfeit of construction projects in Asia makes the title of tallest building more temporary than ever; none of the buildings on this list of the ten tallest in waiting are in North America, and seven of them eclipse the height of One World Trade Center. This list contains the tallest under construction based on data from the Council on Tall Buildings and Urban Habitat. There are many others on the drawing board, but this is meant to showcase the projects likely to be completed.

READ MORE HERE

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Feb
27

Recent Charleston CRE Sales

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sold stamp blueCharleston

Chad Yonce of Southeastern Management Group represented State Street LLC in its $400,000 sale of 1,000 square feet of office space at 15 State St. The buyer, Baker-Charleston LLC, was represented by Chuck Sullivan of Carriage Properties.

Johns Island

Eddie Hughes and Edward Robinson of Beach Commercial represented the seller, Fast Asleep LLC, in its $805,000 sale of 2.02 acres at 1758 Main Road. The buyer, Oakside Apartments SC LLC, was represented by Pete Harper of Lee & Associates.

Ladson

Mark Erickson of Cushman & Wakefield|Thalhimer represented the buyer, M2 Land LLC, in its $3 million purchase of 21.24 acres at 9801 Highway 78 from JLW Ladson LLC.

North Charleston

Tradd Varner of Avison Young represented SC Services of Charleston LLC in its $925,000 purchase of 12,000 square feet of industrial space at 2800 Azalea Drive from Charles E. Swicord. Mark Erickson of Cushman & Wakefield|Thalhimer represented the seller.

Milton Thomas of Lee & Associates represented the sellers, J. Gregory Sanders and Lori B. Wood, in the $3.81 million sale of 16.22 acres on Hawthorne Drive. The buyer, Charleston FX LLC, was represented by Peter Fennelly and Simmons Johnson of Colliers International.

Robert Pratt of RE/MAX Pro Realty represented the seller, Sandlapper One Associates, in the $1.2 million sale of two 9,750-square-foot buildings at 7599 Sandlapper Parkway. The buyer, Six Old North Wharf, was represented by Eddie Buxton of Palmetto Commercial Properties.

Summerville

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

West Ashley

Bob Nuttall and Lindsey Halter of Lee & Associates represented the seller, Mooring Capital Fund LLC, in its $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.

SOURCE

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