Archive for Sale

sold stamp blueThree assisted living and memory care facilities in the Upstate sold for $48.4 million. The properties totaled 198 units at $244,444 per unit.

Spring Park at 925 N. Main St. in Travelers Rest, Fairview Park at 544 Harrison Bridge Road in Simpsonville, and Oakview Park at 110 Hood Road in Powdersville were purchased by Atlas Senior Living of Alabama.

The seller, Greenville-based Graycliff Capital Senior Housing LLC, was represented by Cushman & Wakefield Senior Housing of Florida.

“Graycliff strategically developed this portfolio within the Greenville market to avoid overlap, capture economies of scale, and allow each asset to effectively meet market demand,” Cushman & Wakefield’s Paul Carr said in a news release. “As a result, these communities are uniquely positioned to capitalize on Greenville’s exceptional growth and thriving economy.”

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Categories : Greenville
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Jan
13

Beaufort Medical Office Building Sold

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arthurFairfield Advisors facilitated the sale of the Jenkins Medical Office Building located in Beaufort, South Carolina. The medical building, which sold for $10.6 million, totals 51,000 square feet and was built in 2000. Beaufort Memorial Hospital and the Medical University of South Carolina are the anchor tenants in the MOB. Both executed long term, NNN leases as part of the sale transaction.

“Fairfield managed a highly focused campaign to maximize the proceeds for the seller of the Medical Office Building,” said Greg Trainor, Managing Partner with Fairfield. “The sellers were able to execute new leases with the anchor tenants which made the MOB that much more of an attractive acquisition for the new owner. Fairfield worked within its network of buyers on an off-market basis in order to achieve the results set forth by the sellers”.

Categories : Beaufort, Uncategorized
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Dec
07

Pintail Capital Partners Announces Transactions

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pintailPintail Capital Partners has announced the following transactions completed by its team of commercial real estate professionals.

  • Tyson Smoak of Pintail Capital Partners represented the landlord, Allergy Partners, in the lease of approximately 2500 square feet in Union, SC.
  • Ross Kester of Pintail Capital Partners represented the seller, Greig Properties, LLC, in the sale of approximately 4950 square feet located at 373 Halton Road in Greenville.
  • Tyson Smoak of Pintail Capital Partners represented the buyer, BMW Car Club of America, in the purchase of approximately +/- 20 acres and two office buildings located at 2340 and 2350 Highway 101 in Greer.
Categories : Greenville, Union
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Dec
06

Two Self Storage Facilities in the Carolinas Sold

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two soldSpaceMax Storage in Charlotte, NC, has changed hands. The buyer and seller weren’t identified. The facility, on 2.1 acres at 2908 Monroe Road, offers 658 units in 69,318 rentable square feet. The Colliers International Self Storage Group handled the deal. Malvern, PA-based CubeSmart now operates the facility. Charlotte-based Childress Klein Properties Inc. owns and operates the SpaceMax Storage brand.

An unidentified private equity group purchased AAA Storage City in Ridgeland, SC, from an unidentified seller for an undisclosed amount. The facility was listed at $11 million. The facility, on 8.6 acres at 3715 Argent Blvd., comprises 524 units in 78,690 rentable square feet. Dale Eisenman of Hilton Head, SC-based Midcoast Properties Inc. represented the seller.

Categories : Charlotte
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Nov
20

Irmo Medical Office Building Sold for $172/sf

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IMG_3984A 7,400-square-foot single-tenant medical office building in Irmo has sold for $1.27 million.

The building, at 7611 St. Andrews Road, sold to a 1301 Exchange purchaser from Anderson and is occupied by Palmetto Primary Care Physicians. Palmetto Primary Care Physicians (PPCP) is the largest independent multi-specialty group practice in South Carolina, with 30 physician’s offices in four counties. That lease was facilitated by NAI Avant broker Peyton Bryant, who also completed the building’s investment sale, in June.

Integra Realty Resources – Columbia is pleased to have provided appraisal services for this transaction.

Categories : Columbia
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Nov
19

The Inn at USC Sold

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Inn at USCThe Inn at USC has been acquired by Chicago-based Adventurous Journeys Capital Partners.

The 116-room hotel, formerly a Wyndham Garden hotel, will undergo a comprehensive renovation and become part of the new owners’ Graduate Hotels group, a style tailored to towns with universities. The hotel, located at 1619 Pendleton St., will be the first of that kind in the Carolinas, according to a news release. The hotel will remain open during renovations, the release said.

CRBE facilitated the transaction, with Arpit Shah of CBRE Hotels’ Charlotte office and Martin Moore of the company’s Columbia office representing the sellers.

IMIC Hotels is a Columbia-based property management company.

Categories : Columbia
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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.

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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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