Archive for Uncategorized

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.

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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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Feb
08

$250 Million House For Sale

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The VIDEO TOUR is incredible…….

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Feb
02

Hardee’s Ground Lease in High Point Sold

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sold signBerkeley Capital Advisors has announced the sale of the Hardee’s Ground Lease in High Point, NC for $1.198MM, satisfying a 1031 tax exchange. Located at 2850 N. Main St., Hardee’s had 12 years remaining on the lease at time of sale. Steve and Ransome exclusively represented the seller in the transaction.

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Jan
31

Berkeley Capital Brokers Mt. Airy Shopping Center

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mt airy centerBerkeley Capital Advisors is pleased to announce the sale of New Market Crossing in Mt. Airy, NC, a 112,176 square foot shopping center anchored by a Lowes Foods. Rob Carter, Rad von Werssowetz, and Erin Green of Berkeley Capital Advisors represented the sellers in this transaction.

The 117,376 square foot community shopping center is anchored by a 54,838 square foot Lowe’s supermarket that is scheduled to be renovated in 2018. Rose’s occupied 32,000 square feet in the center.  There are three local shops vacant, totaling 7,908 square feet.

 

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Nov
09

Plan for SCE&G’s Bus Site Released

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bus-siteCity of Columbia officials will hear a developer’s concept to build mixed-used project with a grocery store and apartments on the former South Carolina Electric & Gas Co. bus storage facility on Huger Street.

The project includes a 30,000-square-foot grocery story with 177 residential units, according to documents filed with city planners. In addition, the concept includes 10,000 square feet of amenity and leasing space, a free-standing building of 12,500 square feet, and a combination of structured and surface parking.

The development would be built on about six acres of prime downtown Columbia property bounded by Huger, Hampton, Washington and Williams streets. It’s near the vacant Kline Iron & Steel Co. property that’s slated for a $100 million development project.

The Design/Development Review Commission is scheduled to receive an informational presentation on the proposal at its monthly meeting on Thursday at City Hall. Mark Senn is listed on the application as the project’s developer.

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Oct
24

Parks at Nexton Apartments Sold

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parks-nextonThe apartment complex at the mixed-use Nexton real estate development in Summerville is under new ownership.

A company affiliated with Woodland Hills, Calif.-based NMS Property Services Corp. paid $53.5 million for the Parks at Nexton, or about $167,187 for each of the 320 units, Berkeley County land records show.

It is the NMS’s only investment property outside of California, according to its website.

The seller was a joint venture between The Beach Co., a Charleston real estate firm, and Nexton developer WestRock Co. They completed the Parks project in early 2015.

Ken Seeger, president of WestRock’s real estate development division, said in a statement that the company was pleased with the partnership.

SOURCE

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Oct
19

N. Charleston Industrial Building Sold for $43.64/SF

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carolina commercial LLCCarolina Commercial, LLC has announced the investment sale of 135,000 SF multi-tenant industrial building located at 4400 Arco Lane, North Charleston, SC. Carolina Commercial represented the Buyer and the Seller. The sales price was reported to be $5,891,000, or $43.64 per square foot for the multi-tenant property.

The Buyer’s Broker was Dunston Powell, CCIM and the Seller’s Broker was Dan Batten, SIOR.

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Sep
27

Rocky Mount Retail Center Sold

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sutters-creekBerkeley Capital Advisors is pleased to announce the sale of Sutter’s Creek in Rocky Mt, NC, a 113,288 square foot shopping center anchored by Big Lots, Tractor Supply, and Farmers Home Furniture.

Addison Montague, Rob Carter, David Webb, Alex Quarrier, and Rad von Werssowetz of Berkeley Capital Advisors represented the sellers in this transaction.

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Sep
21

Asheboro’s Randolph Mall Under Contract

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randolphmallThe ownership of Randolph Mall could change by November. The potential buyer was in town Tuesday to view the property as part of the due diligence process.

Jim Hull, owner of Hull Property Group, confirmed his company has a binding contract to purchase the local mall but declined to comment on the details. If the deal is finalized, it should close around Nov. 1.

Randolph Mall opened in 1982. The 30-acre site has a combined land and building tax value of $13.7 million, according to the county tax records. It is currently operated by CBL & Associates, based in Chattanooga, Tenn. CBL bought the mall from Richard E. Jacobs Group in 2001.

Since 2014, CBL has been on a mission of “targeted divestitures of stable, but lower-growth malls” in its portfolio. The company still owns 10 properties in North Carolina, including Hanes Mall and Friendly Center.

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Sep
12

What if They Had Relied on Zillow to Set the Asking Price?

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money-drainAccording to The State newspaper, a house on Lake Murray just sold for $1,425,000.

The “Zestimate” for the same house, at 18 Scott Branch Road in Chapin, SC is $822,368.

Think twice before placing any weight on anything from Zillow.com……..

 

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