Archive for Sale

Oct
19

Greenville’s Haywood Reserve Sold

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sold_sign65CNL Growth Properties, a real estate investment trust (REIT) which invested in the development of Class A multifamily communities in the mid-Atlantic and Sun Belt regions of the United States, has completed the successful liquidation of its portfolio according to the plan approved by shareholders in August 2016. The company closed on the sale of its 17th and final property, Haywood Reserve in Greenville, South Carolina, on Sept. 29, 2017, for $53.8 million.

Categories : Greenville
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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.

Categories : Spartanburg
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Aug
29

Home2 Suites by Hilton Rock Hill / Charlotte Sold

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RH home2 suitesNoble Investment Group has announced the acquisition of the Home2 Suites by Hilton Rock Hill | Charlotte. The contemporary, extended stay hotel opened in May 2017 in Rock Hill, South Carolina – a suburb of Charlotte.

The hotel location offers easy circulation to the greater I-77 corridor which links Rock Hill directly to downtown Charlotte. The hotel is within walking distance to numerous restaurants and shops, as well as popular attractions such as the Rock Hill Galleria Mall. The hotel is also convenient to Winthrop University, Historic Downtown Rock Hill and Piedmont Medical Center.

The Home2 Suites by Hilton Rock Hill | Charlotte features 105 studio and one-bedroom suites, each with a full kitchen, work space, storage area, and a living area with sleeper sofa. The hotel also offers complimentary breakfast, complimentary high-speed wireless internet access, a fully-equipped, 24-hour business center and flexible meeting space for small meetings or events. Guests can also enjoy a heated indoor saline swimming pool, outdoor patio with lounging and grill areas, and Home2 Suites innovative Spin2Cycle laundry and fitness facility.

Categories : Rock Hill
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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%.

Categories : Spartanburg
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Aug
16

Wando Self Storage Facility Sold

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wando ssThe Extra Attic Self Storage in Wando (Charleston), South Carolina, was sold in August and commanded a sales price of over $100 per RSF.

Located on Clements Ferry Road just tenths of a mile from the proposed 9,000 acre development of Cainhoy Plantation, estimated to be home to 20,000 – 40,000 residents over the coming decades, the facility features 11 self storage buildings plus an office building, with 84,200 +/- RSF on approximately 6 acres. It offers climate units and traditional units, plus parking. There is also an onsite rental office with moving supplies, and a self serve Kiosk. Expansion can be accommodated onsite vertically.

Dale C. Eisenman, CCIM of Midcoast Properties, Inc., a leading self storage broker in the Southeast, represented the seller and had the listing to market the facility.

LINK TO LOOPNET LISTING

Categories : Charleston
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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.

READ MORE HERE

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Jun
05

Myrtle Beach Hotel Sold for $45,075/Room

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mb hotelLodging Partners, LLC has announced it has arranged the sale of the Quality Inn & Suites Myrtle Beach, South Carolina. The 66-Unit, two-story Quality Inn & Suites Myrtle Beach is very well located directly across the street from the Atlantic Ocean and within walking distance to Family Kingdom Amusement Park, Splashes Water Park, and the Myrtle Beach Boardwalk. The Hotel, which sold for the $2,975,000 asking price, was acquired by a regional hotel investor.

Ford C. Barton, Principal, exclusively represented the seller, a locally-based group, on this transaction. “We have known and worked with the Seller over many years, and we’re delighted to have structured a very successful sale of this asset at the full asking price,” noted Ford Barton.

Categories : Myrtle Beach
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Jun
05

Ziff Properties Sells Savannah Parking Garage

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ziff-properties-logoZiff Properties Inc. has sold the Manger Parking Garage, a 420-space parking structure located at 115 E. Congress St. in Savannah. A local buyer purchased the asset for $20 million. Ziff Properties has retained the historic Manger Building, an adjacent 118,059-square-foot office building located at 7 E. Congress St.

Todd Casper and Michael Hassler of CBRE’s Houston office represented Ziff Properties in the transaction.

Categories : Savannah
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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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May
22

6,000 Square Foot Retail Center in Columbia Sold

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4406 forestNAI Avant senior broker Macon Lovelace, SIOR recently represented the buyer, Rhodes Properties of Walterboro, LLC, in the purchase of a ±6,000 square foot retail investment building in Columbia, SC.

Located at 4406 A Forest Drive, the property was sold by Osprey, Inc.

Current tenants of the retail property include Ingram Comprehensive Eye Care, First Command, Matzner Family Chiropractic, and Edward Jones.

Categories : Columbia
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May
21

N. Charleston Self Storage Facility Sold

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sold sign in yardAthena Real Estate, LLC is pleased to announce the acquisition of Pack Rat Self Storage (to be re-named Out O’ Space Storage), an approximate 400 unit or 45,700 square foot facility located at 2170 Greenridge Road, North Charleston, South Carolina. The property, acquired through an Athena affiliate, is similarly branded as six other Athena affiliate self-storage facilities located in Florida and provides for residential and commercial storage. The property is centrally located and is in close proximity to a number of apartment complexes, universities, technical schools, and businesses. The property offers both climate controlled and non-climate controlled space and sells moving and storage supplies.

This property is one block off of Rivers Avenue, a seven-lane highway with an average daily traffic count of approximately 67,000. The property has approximately 5,000 residential units nearby. Over the past 24 months the property has averaged 87% physical occupancy by unit count and 77% economic occupancy according to management summary reports.

Categories : Charleston
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Mar
01

Two Student Housing Developments in the Carolinas Sold

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college housingARA Newmark has arranged two sales of student housing assets near the University of South Carolina and the University of North Carolina at Greensboro.

The sales totaled more than $50 million. In the first transaction, Pittsburgh-based Campus First Student Living purchased The Club at Carolina Stadium in Columbia from Aspen Square Management for $30.5 million. Situated directly across from Carolina Stadium, the 240-unit, 486-bed asset was fully occupied at the time of sale.

In the second deal, Shanghai-based private equity fund OC Ventures and operating partner SkyeCroft Realty purchased Sterling Cottages at West End in Greensboro from Houston-based The Dinerstein Cos. for an undisclosed price. Built in 2011, the 176-unit, 600-bed asset was 93 percent occupied at the time of sale. Ryan Lang of ARA Newmark’s Student Housing group in Austin, Texas, represented the sellers in both transactions.

Categories : Columbia, Greensboro
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Mar
01

Festiva Nabs Myrtle Beach Resort Golf Course

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golf soldFestiva Real Estate Holdings acquired Wachesaw Plantation East golf course in a transaction that includes the East Grill and Pub. Patton Hospitality Management (PHM), a resort management company based in Asheville, N.C., which currently manages the Ellington resort operations, will also be the management entity for the golf course and the grill. The asset traded for an undisclosed amount.

Located at 911 Riverwood Drive, just off Highway 17, on the site of a former rice plantation in Murrells Inlet, the Wachesaw Plantation East golf course is 20 minutes south of the Myrtle Beach International Airport. The facility is part of Ellington at Wachesaw Plantation East resort. Currently, PHM manages the resort, but the firm will also manage Festiva Real Estate Holdings’ new acquisition.

READ MORE HERE

 

Categories : Myrtle Beach
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Feb
27

HFF Closes $20.75 Million Sale of Raleigh Apartments

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regency placeHolliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $20.75 million sale of Regency Place Apartments (Regency Place), a 180-unit, garden-style apartment community in the West Raleigh submarket of Raleigh, North Carolina.

HFF marketed the property on behalf of the seller, Covenant Capital Group. Towne Properties (Towne) purchased the asset free and clear of existing debt. Regency Place is Towne’s first acquisition in North Carolina and in the southeastern region of the United States.

Regency Place is located at 6210 St. Regis Circle near the nexus of Interstates 40 and 440. The property’s centralized location within the Raleigh-Cary MSA provides connectivity to downtown Raleigh’s burgeoning tech hub and other high-growth employment centers such as North Carolina State University and Cary’s Weston area, which is home to companies, including SAS, MetLife and Fidelity Investments. Regency Place comprises nine three-story residential buildings with a mix of one- and two-bedroom units averaging 848 square feet each. During the past two years, the property has undergone renovations to upgrade amenity spaces, exterior features and unit interiors. Exterior and common area improvements include clubhouse modernization, fitness center expansion with new equipment, a new dog park, new pool pavilion and deck, landscape enhancement and new exterior paint. Unit upgrades include the addition of stainless steel appliances, granite countertops, new cabinet doors, new hardware and lighting, fresh interior paint and faux-wood flooring.

The HFF investment sales team representing the seller was led by managing director Justin Good, director Allan Lynch, managing director Jeff Glenn and senior managing director Jason Nettles.

Categories : Raleigh
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Feb
08

Coldwell Banker Commercial Atlantic Announces Transactions

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coldwell banker commercial atlanticDaniel Island – Brent Case, CCIM of Coldwell Banker Commercial Atlantic represented the Buyer, McGrath Real Estate Holdings LLC, in the purchase of a 2,181-square-foot office space for $520,000 at 234 Seven Farms Drive, Unit 215, in Daniel Island SC. Fritz Meyer of Meyer Kapp and Associates represented the Seller.

North Charleston – Brent Case, CCIM, and Benjamin Diebold of Coldwell Banker Commercial Atlantic represented the Landlord, Jack Krauss, in the Lease of a 7,500-square-foot/1.35 acre warehouse space for $308,548 at 7219 Cross County Rd, in North Charleston SC

Charleston – Kathleen Boswell of Coldwell Banker Commercial Atlantic represented the Tenant, Office Evolution, in the lease of 7,032-square-feet of office space at 460 King Street., in Charleston SC.

Charleston – Kristen Corri Krause of Coldwell Banker Commercial Atlantic Intl. / Historic District Real Estate represented the buyer, Buick McKane Holdings LLC, and the Seller, 13 Carolina St. LLC, in the purchase of a 2,100-square-foot multi-family duplex for $514,000 at 13 Carolina St in Charleston, SC.

Moncks Corner – Marlena Franklin, CCIM of Coldwell Banker Commercial Atlantic represented the Buyer, DCH Management, LLC, and Seller in the purchase of a retail space for $90,000 at 507 E Main St. in Moncks Corner, SC.

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