Archive for Sale

Aug
28

W. Columbia Self Storage Facility Sold

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eagle storageA two-property portfolio located in West Columbia, SC, was sold in late July to an out of state investment firm. The buyer formed an LLC for the purpose of acquiring the facility.

Eagle Self Storage consists of two facilities located about 3/10 of a mile from each other. The facilities feature a combined 337 self storage units and 35,625 RSF, situated on 5.31 acres with room for potential expansion or parking. Amenities include lighting, fencing and an office.

Categories : Columbia
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Jun
04

Two Self Storage Facilities in SC Sold

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Self Storage Tucson Arizona

Self Storage Tucson Arizona

Riverchase Self Storage located in Lexington, South Carolina and Summit Self Storage, located in North Augusta, South Carolina were sold to a national buyer in May.

Located approximately 60 miles from each other, the facilities feature a combined 1,310 self storage units, 490 of which are climate controlled, vehicle and RV parking, and over 168,360 RSF situated on 12.86. Both are located in growing communities, and enjoy a combined occupancy of 92%.

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

Categories : Aiken, Lexington
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May
31

Winston-Salem Apartments Sold for $16.4 Million

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ashton oaksEller Capital Partners has purchased Ashton Oaks, a 288-unit apartment community in Winston-Salem, for $16.4 million, or $56,944 per unit.

The seller was not disclosed. Built in 1988, the property offers one- and two-bedroom layouts and is situated within one mile of Wake Forest University’s campus.

Chapel Hill, N.C.-based Eller Capital plans to renovate Ashton Oak’s exteriors, build new amenities and upgrade the interior finishes. Affiliate firm Eller Residential Living will manage the property and oversee the construction project

Categories : Winston-Salem
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May
31

CBC Atlantic Announces Transactions

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two soldNorth Charleston, SC – 5/22/2019 – Brent Case, CCIM and Caine Halter of Coldwell Banker Commercial Atlantic represented the Buyer, 3213 Rivers, LLC, in the Purchase of a 2,850-square-foot retail space for $220,000 at 3213 Rivers Ave. in North Charleston, SC. Craig Massey of Avison Young represented the Seller.

North Charleston, SC – 5/22/2019 – Brent Case, CCIM of Coldwell Banker Commercial Atlantic represented the Seller, M35 Investors, LLC, in the Sale of a 3,307-square-foot office for $793,000 at 4515 Spruill in North Charleston, SC.

Summerville, SC – 4/24/2019 – Mike Rose, CCIM of Coldwell Banker Commercial Atlantic represented the Seller, First National Bank of SC in the Sale of a 1.01-acre piece of land for $365,000 at 2861 Ladson Rd. in Summerville, SC. Billy Benedict of SE Retail Advisors represented the Buyer, Speedway, LLC.

Categories : Charleston
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Mar
27

Columbia and Bluffton Self Storage Facilities Sold

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self-storage3Midcoast Properties, Inc. has announced the sale of Plantation Self Storage, a two-property portfolio located in Bluffton and Columbia, South Carolina, in early March to Morningstar Storage.

The facilities feature both climate-controlled units and non-climate drive-up units, as well as lockers, wine storage, covered drive-up units, and RV and Boat parking. Combined, there are a total of 19 buildings situated on 14.85 acres, with over 165,000 RSF. Amenities include cameras, lights, digital gate access, timers for lights in hallways, move-in trucks, and offices with moving supplies. They each enjoy good visibility and are situated near shopping centers and residential developments.

Dale C. Eisenman, CCIM of Midcoast Properties, Inc. represented the seller and had the listing to market the facility.

Categories : Bluffton, Columbia
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Mar
25

Taylors Apartment Complex Sold for $89,000/Unit

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Chimneys Exterior 1Norfolk, Va.-based Cohen Investment Group has purchased The Chimneys of Greenville from Chicago-based Highgate Capital Group for $14.95 million.

The Chimneys of Greenville is a 168-unit apartment community in Taylors. Jordan McCarley, Tai Cohen and Watson Bryant of Cushman & Wakefield represented the seller in the transaction, according to a news release.

“The Chimneys of Greenville transaction is a great example of our company buying value-add multifamily real estate below replacement cost,” said Hugh D. Cohen, president of Cohen Investment Group, in the release. “Adding this property to our growing portfolio is exciting on various levels including our entrance into the Greenville market. Each acquisition that we do possesses its own individual business plan, and we plan on capitalizing on ours quickly.”

Categories : Greenville
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Mar
20

Former Skating Center in Charleston Sold

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hot wheelsCarolina Commercial, LLC congratulates Dunston Powell, CCIM and William Moore on the sale of the 16,000 square foot former Hot Wheels Skating Center at 1523 Folly Road in Charleston, SC.

Carolina Commercial represented John Harris Body Shop/Owen Investments Company, LLC in the purchase for the planned adaptive reuse of this former landmark James Island property. Phil Rose with Twin Rivers Capital represented the Seller.

Categories : Charleston
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Mar
20

New Apartments Planned for Verdae

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apartments-for-rentGlenmont Capital Management, LLC, a New York-based real estate investment firm led by Managing Principal Lawrence A. Kestin, and Arlington Properties, Inc., a Birmingham-based real estate development firm led by Jim Dixon, announced the acquisition of a 19-acre site in the Verdae master-planned community of Greenville, South Carolina, for the development of Verdae III, a 276-unit Class-A apartment community. The planned development follows the success of Glenmont and Arlington’s development of Velo Verdae, a 262-unit Class A apartment immediately adjacent to the new site which was recently sold.

The property acquired in Verdae offers unparalleled convenience and is situated along two major roads, less than five miles from downtown Greenville. Verdae III will offer unit sizes, features, and amenities not feasible in Downtown Greenville, while maintaining a significant rent discount to Class-A product Downtown. Furthermore, the popular Swamp Rabbit Trail multimodal path is being extended and will run immediately adjacent to Verdae III, benefitting residents with direct access.

Construction will begin in Q1 2019, with move-ins scheduled to begin 12 months thereafter. Verdae III will represent the thirteenth multifamily project by Glenmont and Arlington since 2002.

Categories : Greenville
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Feb
13

Three Update Assisted Living Facilities Sold

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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.”

READ MORE HERE

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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