Multiple Downtown Charleston Properties Part of $20+ Million Real Estate Deal

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CHARLESTON, S.C. — Over the last year and half, agents from local investment firm Charleston Commercial have been working diligently to create one of the most substantial infill deals on the Charleston peninsula. Valued at more than $20 million, the deal closed on July 1.

C. Kendrick and managing director Josh Schaap brought together eight properties and six property owners to create this landmark real estate deal bordered by King, Society and George streets. 

The properties include:

  • 316 King St., a historic mixed-use property with retail on the ground floor and two upstairs residential units
  • 306 King St., a historic mixed-use property with retail on the ground floor and four upstairs residential units
  • 84 Society St., where Threshold Repertory Theatre currently operates
  • Four parcels between George Street surface parking lot with 151 parking stalls
  • 80 Society St., home of women’s clothing store Anne’s

Kendrick said handling multiple properties and owners plus the historic nature of some of the buildings makes this purchase one of the most significant commercial real estate deals in downtown Charleston.

The company invested a significant amount of time, money and effort into figuring out the complexities of the deal, he said.

“Having one entity in control means you can be cohesive in your thought process and planning,” Schaap said. “Now we can plan something thoughtful.”

In the next 12 months, Schaap said they will begin looking for an operating partner to develop the property.

The team worked on 529 King St. (formerly Dixie Furniture) as well as 332 King St (formerly Bob Ellis). The company’s experience with complex zoning issues, utilities and historic properties makes it uniquely positioned to facilities commercial real estate sales, acquisitions and developments in Charleston’s historic district.

“Working on projects like this in Charleston’s historic district is so fulfilling,” Kendrick said. “We enjoy working with the many property owners and learning their stories and the history of these properties – many of which date back several generations. We take great pride in maintaining the history and architectural appeal of these buildings.”  

About Charleston Commercial
Charleston Commercial is a fully integrated commercial real estate group located in Charleston, S.C., specializing in commercial brokerage and asset management for a wide range of property types, including retail, medical office, office, multi-family, hospitality, urban infill, and industrial properties. The firm offers a broad range of incorporated services to see assignments through from start to finish. Services range from market prospecting, acquisition, value creation (including entitlements, zoning, approvals, and development oversight), leasing, asset management, and disposition. 

LandSouth Building Apartment Community in Historic Charleston, South Carolina

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CHARLESTON, S.C. – LandSouth Construction, an award-winning Jacksonville, Fla. based general contractor specializing in multifamily, senior living and mixed-use development has begun construction on The Merchant, a $37 million luxury apartment community in historic Charleston, S.C.

Developer Pollack Shores Real Estate Group of Atlanta, Ga. chose Cline Design Associates of Raleigh, N.C. as the architect for the gated, 10 building, three and four-story development that sits on six beautifully landscaped acres. Completion is scheduled for December 2019.

“The Merchant’s architectural design and construction takes full advantage of its location and appeal to the city’s young professionals and students. The 244,940 square foot project will offer a host of on-site amenities including communal gathering spots and residences configured in one and two-bedroom floor plans.  It will also include commercial space that will further enhance the urban living experience,” said James Pyle, LandSouth President and CEO.

In its 20-year history, LandSouth Construction has completed more than 15,000 multifamily units, including apartments, senior living, condominiums, and townhomes.

The community’s Classic Revival architecture will be reflected in stand-alone apartment buildings with stucco and brick exteriors with cast stone columns, corbels and detailed cornices and paver sidewalks. Buildings will have interior corridors. The design signifies formal symmetrical design, decorative door surrounds, columns and sidelights.

The Merchant will feature 231 well-appointed apartment homes in 15 spacious floor plans in one or two bedrooms ranging from 565 to 1,074 square feet. Residences will feature luxury vinyl and carpeted flooring, stainless appliances, granite counter tops and shaker cabinets, tile back splashes and glass shower enclosures, washer and dryer, walk-in closets and six convenient elevators.

Stylish community amenities include a large clubhouse with a resort-style pool, clubhouse with gaming area, modern fitness center, Yoga studio, pet spa, and bike lounge. There will be abundant parking with surface space available as well as a mail room.

Located in trendy Nomo neighborhood of vibrant Charleston at 15 Huguenin Ave., residents will enjoy all that Historic Downtown Charleston has to offer including King Street shopping, entertainment and dining, The Merchant is convenient to the College of Charleston as well as the iconic Citadel and remarkable Fort Sumter national monument

The experienced LandSouth team is led by Project Manager Ryland Thompson, Field Superintendent Brian Stress and Project Administrator Sara Farrell. The Merchant is being managed by Matrix Residential.

LandSouth Construction is currently working on apartments, senior living and mixed-use developments throughout the Southeast including Charlotte, N.C., North Augusta, S.C., Boca Raton, Tampa, Bradenton, Kissimmee, Jacksonville, Boynton Beach, Delray Beach, Sanford, ChampionsGate, Winter Springs. Port St. Lucie and Orlando Fla., Chattanooga, Tenn., Hixon, Tenn., and senior living developments in New Port Richey, Nocatee, Bonita Springs and Fort Myers, Fla.

LandSouth uses its unique integrated construction approach where each service component works together to provide a seamless delivery system.

These components have been designed and refined to be complementary and each is performance enhanced with proven procedures, tested systems and the very latest technology. By emphasizing results and exceptional service, LandSouth Construction has created a construction process to provide the best possible value for clients.

For more information call (904) 273-6004 or visit www.landsouth.com.

CBRE (Commercial Real Estate Worldwide) Announces Midyear Top Producers in South Carolina – 5 of top 10 from Charleston

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Columbia, S.C. – July 24, 2017CBRE is pleased to announce the 2017 midyear top producers in South Carolina. We congratulate these tremendous professionals, each of whom continues to set the highest standards for the industry.

Top 10 Producers in South Carolina

  1. Charlie Carmody, Charleston, SC
  2. Trey Pennington, Greenville, SC
  3. Charles Gouch, Greenville, SC
  4. Markus Kastenholz, Charleston, SC
  5. Ansel Bunch, Columbia, SC
  6. Joyce Beach, Charleston, SC
  7. Tripp Sellers, Greenville, SC
  8. Bob Barrineau, Charleston, SC
  9. Blaine Hart, Greenville, SC
  10. Brendan Redeyoff, Charleston, SC

Additionally, CBRE is pleased to recognize the top producers who turned global scale into local market momentum in Charleston, Columbia and Greenville-Spartanburg.

Top 3 Producers in Charleston

  1. Charlie Carmody, Office Services
  2. Markus Kastenholz, Land Services
  3. Joyce Beach, Retail Services

Top 3 Producers in Columbia

  1. Ansel Bunch, Retail Services
  2. Martin Moore, Office Services
  3. Aaron Dupree, Office Services

Top 3 Producers in Greenville-Spartanburg

  1. Trey Pennington, Industrial & Logistics Services
  2. Charles Gouch, Office Services
  3. Tripp Sellers, Investment Properties

“When it comes to real estate, CBRE professionals see potential everywhere,” said CBRE Managing Director of South Carolina Steve Smith. “These individuals demonstrate how we build advantage every day through the outcomes we deliver, the perspectives we offer and the exceptional service we provide to our clients.”

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

Press Release: Premier One Launches the Easiest Online Map Search for Charleston SC Real Estate

Finding the most suitable Charleston home for sale is no more a hassle, as the premier real estate firm in the area announces their interactive map search feature in their website. With the help of this online map search, it’s now a lot easier for a buyer to find a real estate in his/her preferred location throughout Charleston.

Whether someone is relocating to Charleston, or wants to buy a new home in the area, Premier One is the professional and trustworthy real estate firm to rely upon. The real estate firm has a vast listing of Charleston homes and other types of properties. They also offer an advanced search feature that precisely matches the search criteria of a property buyer to suggest the best homes for sale in the area. Besides, their new and interactive map based search feature allows buyers to find properties in their preferred location.

According to the spokesperson of the firm, the location based search covers a number of locations throughout Charleston, including Goose Creek, Isle of Palms, James Island, Kiawah Island, Seabrook Island, Folly Beach, North Charleston, Summerville, West Ashley, Daniel Island, and Edisto Island. Besides the online search, the firm has a team of experienced real estate professionals who are committed to finding the best properties throughout the area that can best meet a buyer’s requirements.

Premier One deals in a wide variety of properties in Charleston, available in different budgets. Based on the budget of a buyer, they can shortlist the most suitable properties in the area that a buyer can choose for their own living or for investment purposes. The spokesperson reveals that they can guarantee the best prices for both buyers and sellers, because of their local presence. They know the local real estate market in Charleston and have a good reputation among homeowners in the area. This is the reason why can rest assured of the best prices when completing a real estate deal through them.

To know more about their interactive search feature or to search a property in Charleston, one can visit the website http://gopremierone.com/.

About Premier One

Premier One has evolved over decades of real estate service to bring an enhanced level of commitment to their clients that is truly “Premier”. Each agent of the firm has undergone extensive training to meet clients’ needs. They have affiliations and contacts nationally and in the local market so that they can give clients an access to premier resources with an advantage of buying or selling homes, land, or commercial property. They maintain up to the minute listing detail on every home in the area and syndication through dozens of the major real estate search engines.

For Media Enquiry –
Contact Person: Tom Wingard
Telephone: 866-337-3127
Email: Info(at)GoPremierOne(dot)com
Website: http://gopremierone.com

Link to Original Press Release

PWC Emerging Trends in Real Estate 2017 Reports Reveals A Great Deal About Charleston Market

PriceWaterhouseCoopers (PWC) has released its 2017 Emerging Trends in Real Estate Report for 2017 for the United States/Canada and it reveals a very telling story for Charleston and its housing markets.

PWC Emerging Trends in Real Estate 2017 Full Report

The report defines the future of Charleston, SC real estate, saying:

“Charleston, South Carolina, could be considered an emerging 18-hour city with an economy that is firing on all cylinders going into 2017. Strong demographic growth, the expansion of manufacturing facilities, improved transportation and logistics access, and a growing tech services industry are all driving the Charleston economy. Population and household growth is projected to be strong in 2017. In addition, Charleston is becoming a preferred destination for college graduates between the ages of 25 to 34. The younger well-educated workforce is facilitating the growth of Charleston’s expanding tech base. High-tech employment is projected to expand at a faster pace than the national average in 2017. On the manufacturing front, one automaker is starting a major expansion while another is opening a new production facility. Auto production activity could lead to an influx of new parts suppliers locating in the region. Finally, the Port of Charleston should benefit from the Panama Canal expansion. Planned capital expenditures at the port will improve the competitiveness of the operation and further establish Charleston’s reputation as a logistics hub.”

State of Charleston, SC Real Estate

This report indicates that there is an increased demand for investment in Charleston real estate and the potential for a huge upside in 2017.  For overall real estate prospects in 2017, Charleston, SC is ranked #31 in the nation.  Charleston is ranked #2 behind Raleigh, NC home building prospects in 2017.  Investor demand, which is an indicator of the interest investors have in the future prospects of development in a region has Charleston #14.

 

 

Charleston Buy, Sell, Hold Recommendations

The full report contains an in-depth analysis on pricing, population and other key census indicators.

 

Media Release: Sergeant Jasper Agreement Reached – Details

Media Release:  City of Charleston, South Carolina

50 BROAD STREET

CHARLESTON, S.C. 29401 • TELEPHONE (843) 724 – 3746• FAX (843) 724 – 3734

JOHN J. TECKLENBURG

MAYOR

OFFICE OF COMMUNICATIONS

For Release:

SERGEANT JASPER AGREEMENT

DETAILS

Charleston, S.C.

Tonight, Charleston City Council voted to support an agreement to settle the long running Sgt. Jasper dispute. The outline of the agreement is as follows:

  1. THE AGREEMENT

A THREE PART WIN FOR CHARLESTON

  • The judge’s ruling is set aside, meaning that the Board of Architectural Review is protected from further court challenge and can get back to doing its work protecting our city and neighborhoods from unattractive and inappropriate development.
  • Citizens can expect the old Sgt. Jasper unattractive and unloved for more than half a century to come down and be replaced by a dramatically more attractive building a building that the judge in this case has already given the developer approval to build
  • The developer will set aside ¾ of an acre on nearby St. Mary’s Field for the construction of a new, publicly accessible waterfront park at no cost to the taxpayer
  1. THE PUBLIC PROCESS IS PROTECTED NOW AND IN THE FUTURE
  • In addition to protecting the BAR from further court challenge this settlement requires the Beach Company to bring its Plans back to the BAR for two more rounds of approvals provisional and final before the building can be built
  1. CONSIDER THE ALTERNATIVE

WHAT WOULD HAPPEN WITHOUT AN AGREEMENT?

  • The BAR would remain at risk, as an expensive and time consuming legal appeal worked its way through the courts over the next two or more years
  • Due to a quirk in our city’s zoning laws, the Beach Company would almost certainly be forced to reopen the existing Sgt. Jasper building, and then proceed to build additional, primarily commercial structures around it structures that would join the existing Sgt. Jasper on the site for decades to come, and that could be significantly taller than the current building itself.
  • No waterfront park.

MEDIA CONTACT:

Jack O’Toole

Director of Communications

Media Relations/Public Information

(843) 518 – 3228

otoolej@charlestonsc.gov

Charleston Government Website Release Details