Archive for Sale

Sep
19

Summerville Self Storage Facility Sold

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summervillePublic Storage Inc., a self-storage real estate investment trust, has acquired Summerville Self Storage in Summerville, S.C. The property at 11055 Dorchester Road is 23 miles northwest of Charleston, S.C. Built in 2007, and expanded last year, it comprises 53,859 net rentable square feet of storage space in 405 units.

The seller was a partnership between an Austin, Texas-based private company and Absolute Storage Management (ASM), which owns and operates 105 self-storage facilities in 15 states. The buyer and the seller were represented in the transaction by Bill Bellomy and Michael Johnson, brokers with Bellomy & Co., a commercial real estate firm with offices in Austin and Houston.

Categories : Summerville
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Sep
13

Public Storage Acquires Summerville Self Storage

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self-storage3Public Storage Inc. has acquired Summerville Self Storage in Summerville, S.C. The property at 11055 Dorchester Road is 23 miles northwest of Charleston, S.C. Built in 2007 and expanded last year, it comprises 53,859 net rentable square feet of storage space in 405 units.

The seller was a partnership between an Austin, Texas-based private company and Absolute Storage Management (ASM), which owns and operates 105 self-storage facilities in 15 states. The buyer and the seller were represented in the transaction by Bill Bellomy and Michael Johnson, brokers with Bellomy & Co., a commercial real estate firm with offices in Austin and Houston.

Categories : Charleston, Summerville
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Sep
09

Chester County Industrial Building Sold

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ecologyNewmark Grubb Wilson Kibler’s George McCutchen, CCIM, SIOR represented the seller in the recent sale of 23,911 square feet at 564 Ecology Ln. to ShayoNano USA, Inc. The 21.84-acre campus will house SayoNano’s new Chester county operations. The building has clear heights ranging from 42′ to 47′.

ShayoNano develops nanomaterials for use in various commercial applications, including paints and coatings, fire retardants and more. The company’s $14.7 million capital investment is projected to bring approximately 40 new jobs to the community.

“It brings tremendous satisfaction to help a company expand to South Carolina and create jobs, which increase the well-being of those workers, their families, and our whole state,” said McCutchen of the recent sale.

Categories : Chester
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Sep
03

Florence Hotel Sold and Will be Renovated

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ramadaThe Ramada Inn on U.S. 52 near Interstate 95 has been sold to a new hospitality company, which will invest $1 million-plus into a two-phase renovation.

The hotel, which opened on 10 acres in the 1970s as a Holiday Inn, will become a Rodeway Inn & Suites and will then become a Clarion Inn & Suites by the end of the year, according to an announcement.

H&L Hospitality has signed a franchise agreement with Choice Hotels International. Gary Hodgins is the managing partner and Stephen Lam is the general partner of the new company.

The renovated hotel will feature 51 two-bedroom suites along with 20 standard king and 100 standard double-queen rooms for a total of 171 units. The renovation will include the reopening of the extensive restaurant, bar and banquet facilities.

READ MORE HERE

Categories : Florence
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Aug
20

Greenville, NC Apartments Sold for $86,345/Unit

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signature aptsAvison Young announced today that it has brokered the $14.8-million acquisition of Signature Place Apartments located in Greenville, NC.

The property was purchased by CMF Signature Place, LLC, a subsidiary of Carter Multifamily based in Tampa. The sale closed at a price per unit of $86,345.

Signature Place is a 171-unit apartment community located at 410 Beasley Drive, near Vidant Medical Center and East Carolina University (ECU) Health Sciences.
“This asset was uniquely positioned directly across from Vidant’s main campus in Greenville,” comments Cadwallader. “The acquisition provides an exceptional value-add opportunity for our client, and we are excited to see the potential it will bring.” Built in 1980, the property is situated on 15.24 acres near one of Greenville’s most active commercial areas. The complex includes 48 one-bedroom units, 84 two-bedroom units and 39 three-bedroom units. Amenities at the complex include a pool, dog park, courtyard, grilling area, fitness center and clubhouse.

Avison Young’s Craig Cadwallader, Vice President, and Gary Lyons, Senior Vice President, exclusively represented the buyer in the transaction.

Categories : Greenville NC
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Aug
01

Aqua Beach Inn in Myrtle Beach Sold

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mb hotelLodging Partners has announced that it has arranged the sale of the Aqua Beach Inn, a 60-room hotel located at 1301 N. Withers Drive, Myrtle Beach, South Carolina. The hotel was originally constructed in 1986 and converted to the Aqua Beach Inn in 2011. The Hotel has an excellent location directly across the street from the Atlantic Ocean and within walking distance to the Myrtle Beach Boardwalk and SkyWheel, 14th Avenue Pier, as well as numerous restaurants.

“There was strong interest in this property and very competitive bidding as investors recognized that the Myrtle Beach market has continued to perform well. This is the sixth hotel Lodging Partners has marketed in the Myrtle Beach area and we are very pleased with our continued success of hotel dispositions in this region,” said Ford Barton, President of Lodging Partners who represented the seller. This is the fifth hotel that Lodging Partners has sold recently on the Ten-X online platform.

Categories : Myrtle Beach
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Jun
20

Charlotte Office Building Under Contract for $22.65 Million

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sd-office-perimeter-parkway-c7414630Agellan Commercial Real Estate Investment Trust announced today that a third-party purchaser has agreed to purchase the REIT’s approximately 118,500 square foot, five-story multi-tenant office building located at 10130 Perimeter Parkway in Charlotte, NC.

The sale price for this non-core asset of the REIT is approximately $22.65 million and represents an in-place capitalization rate of approximately 7.46%. The proceeds of the disposition are expected to be redeployed by the REIT for future acquisitions of industrial properties located in the United States.

The disposition is consistent with the REIT’s strategy of recycling capital by selling office assets that are no longer aligned with its core strategies in order to fund new industrial investment opportunities.

The sale is expected to close in July 2018 and is subject to certain conditions typical for transactions of this type (other than a due diligence condition which has been waived by the purchaser).

Categories : Charlotte
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May
30

South Carolina Self Storage Facilities Sold

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two soldThe Storage Acquisition Group has announced the sale of two self-storage facilities located in South Carolina. The facilities, located at 2248 North Main Street in Summerville and 2711 Woodruff Road in Simpsonville, are part of a larger portfolio currently under acquisition. The sale was finalized on April 12, 2018.

The facilities total over 200,000 square feet and just over 1,450 storage units. The properties offer a mix of climate controlled and non-climate controlled units, drive-up access units, electronic gate access, video surveillance, and more for maximum convenience.

The Summerville facility is located just a few miles from the heart of historic downtown Summerville. Its location between State Road 176 and Highway 26 make position and visibility second to none. In addition, the Summerville area is growing rapidly with an average population increase of more than double the rates seen in the rest of the state.

The Simpsonville facility is located right beside the intersection of interstate highways I-385 and I-185 in an area dubbed ”The Golden Strip” for its prosperous commercial and retail sectors. The area is home to major corporations such as BMW, Michelin, GE, and Caterpillar to name a few.

The sale was managed by the group’s Vice President, David Spencer, and President and CEO, Cowles M. “Monty” Spencer, Jr.

Categories : Greenville
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Apr
30

HFF Announces Sale of Industrial Facility in the Triad Region

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saleHFF announces the $6.7 million sale of a 107,480-square-foot, fully occupied, industrial building located at 4160 Mendenhall Oaks Parkway in North Carolina’s Greensboro-Winston Salem-High Point area, which is known as the Piedmont Triad (or Triad).

The HFF team represented the seller, a partnership between a private company and Somerset Properties. Dalfen America Corp. purchased the asset.

The multi-tenant building serves as the headquarters for two of the three tenants. The building was constructed in 1997 and features 24-foot clear heights, 16 dock-high positions, two drive-in doors and the ability to add additional loading via 14 knock-out panels. The 4160 Mendenhall Oaks Parkway building is situated within the master-planned Mendenhall Business Park, which is located near a network of major transportation thoroughfares, including Interstates 40, 73 and 85, which is the industrial backbone of the Southeast. Additionally, the building is centrally positioned within the Airport/West Guilford submarket, the largest and most sought after industrial submarket in the Triad, and less than 10 miles from the Piedmont Triad International Airport.

The HFF investment advisory team representing the seller consisted of senior managing director Chris Norvell and director Patrick Nally. HFF is also representing the seller in marketing the remainder of Mendenhall Business Park, which consists of four single-story office buildings and two multi-story office buildings.

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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

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.

Categories : Uncategorized
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Dec
11

Crown Bay Group Acquires Columbia Apartments

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Lake ShoreAtlanta based Crown Bay Group LLC and its partner Vantage Capital Group has announced their acquisition of Lake Shore Village Apartments in Columbia, SC. The property was recently annexed into the City of Columbia boundary.

The garden style property is located on Garners Ferry Road, a major south-east artery which enjoys a highly accessible location with frontage on Garners Ferry, just minutes from I-77 (1.25 mi.). It is comprised of 280 units spread over 23 acres, that also includes a beautiful lake frontage. The new owners intend to complete a full deferred maintenance program including new roofs. Other improvements will include an interior upgrade package with new modern lighting, flooring, kitchen cabinets and black appliances that will take place over the next 24 months. In addition to renovating the units, a washer-dryer rental program will be put in place and a large outdoor tenant amenity area will be created to include a new playground, barbeque/picnic area and pavilion with the goal of upgrading Lake Shore’s image to attract tenants and increase occupancy.

 

The property will be managed by Crown Bay Management, a subsidiary of Crown Bay Group.

Categories : Columbia
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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%.

Categories : Uncategorized
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Nov
07

Charleston Medical Building Sold for $349/SF

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510 albemarleNAI Charleston has announced the sale of a ±8,022-square-foot medical office building at 510 Albemarle Road in West Ashley just across the Ashley River. Broker/Partner David Grubbs represented the seller, 900 Bowman Road Associates, LLP in the transaction. Impact Real Estate, LLC purchased the building for $2.8 million, with Roper St. Francis Physician’s Partners in place as a tenant. The healthcare provider currently uses the building for general surgical practices.

Categories : Charleston
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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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