Foundry Commercial, Oakwood Real Estate Partners Complete Sale of Dorchester Commerce Center in Charleston, South Carolina

Charleston, S.C. (July 2, 2024) – Foundry Commercial, in partnership with Oakwood Real Estate Partners, is pleased to announce the successful sale of Dorchester Commerce Center, located within the greater Charleston industrial market. This transaction marks the partners’ first development in the Charleston metropolitan area, underscoring the company’s commitment to expanding its footprint in key strategic markets.

Dorchester Commerce Center was constructed on roughly 38 acres, strategically located at the intersection of Hodge Road and Thorpe Road, providing excellent access to I-26, Charleston’s primary corridor of commerce, ending at the Port of Charleston. Positioned within the Jedburg submarket, this development is poised to meet the growing demand for industrial space in the region.

Construction of the two-building speculative industrial project began in late 2022. The site now boasts 534,000 square feet of state-of-the-art industrial warehouses, featuring modern rear-load buildings with depths of 260 and 280 feet, opposite the 210-foot shared truck court. The tilt-wall warehouses feature 32′ clear heights, oversized drive-in doors, 9′ x 10′ dock-high doors, and 60′ loading bays, complemented by 514 combined parking spaces.

The Jedburg submarket has seen a surge in demand due to the limited availability of infill properties and the expanding production capacities of major corporations such as Boeing, Mercedes, and Volvo in Charleston. Dorchester Commerce Center is ideally equipped to support this growth, providing essential infrastructure for businesses seeking proximity to these manufacturing giants and the region’s robust transportation networks.

“Infill industrial facilities are vital in major port markets like Charleston, where port, rail, and freight routes are bolstered by major manufacturing and highly skilled labor,” said Bill Simerville, Deal Principal and Managing Director at Foundry Commercial. “The development of Dorchester Commerce Center addresses the critical need for Class-A industrial space in this dynamic market, facilitating efficient logistics and distribution operations for businesses relocating or expanding in the area.”

The project team included Edifice as the general contractor, Merriman Schmitt Architects as the architectural firm, Seamon Whiteside as the civil engineers, and Bridge Commercial for leasing. For more information about Foundry Commercial’s development and investments team and projects, visit https://www.foundrycommercial.com/development-investments/.

###

Photo Attached: Foundry Commercial, in partnership with Oakwood Real Estate Partners, recently sold Dorchester Commerce Center, marking the partners’ first development in the Charleston metropolitan area.

About Foundry Commercial:

Foundry Commercial is a full-service commercial real estate services and investment company operating across the office, industrial, retail, multi-family, healthcare, religious, and not-for- profit asset classes and clients. Focused on the Sun Belt markets, Foundry is sustained by 2,000 associates operating from 13 markets, providing leasing and management on more than 68 million square feet and over 3,000 seniors housing units, executing over $1.6 billion in leasing, tenant rep, and investment sale transactions annually. Foundry’s development and investment platform is fully integrated with its services business and is currently invested in over $4.3 billion in joint ventures with many of the best-known institutional investors in the country and currently has over $1 billion in active ground-up developments across all our markets. For more information, visit www.foundrycommercial.com.

About Oakwood Real Estate Partners:

Oakwood Real Estate Partners is a premier real estate investment firm specializing in value-add and opportunistic investments. The firm partners with top-tier developers and operators to deliver exceptional returns for investors while contributing to the growth and vitality of the communities in which they operate. www.oakwoodre.com