Q3 2019
960 Morrison Drive, Suite 400
| Charleston, SC 29403 | 843.747.1200 | lee-charleston.com
“Never let the fear of striking out keep you from playing the game!�
- Babe Ruth
COMPLETED
1
Clarius
7
Charleston Trade Center
2
Silverman Logistics Center
8
Summerville Distribution Complex
3
Charleston Logistics Center
9
Samet Building
4
North Pointe Commerce Park
10
Winding Woods Commerce Park
5
Palmetto Commerce Parkway
11
Eastport Commerce Center
6
Palmetto Trade Center
UNDER
1
Ladson Industrial Park
3
Summerville Distribution Complex
2
Crosspoint 7
4
Port City Centre | Building 1
PROPOSED
1
DHL Commerce Park
5
Portside Distribution Center 1
2
Camp Hall | Building C
6
Patriot Industrial Park
3
Camp Hall | Building A
7
Port City Centre | Building 2
4
Camp Hall | Building B
8
Landmark Business Park
BUILD TO SUIT
1
A&R Logistics
5
Atlantic Packaging
2
Frontier Logistics
6
Spyder
3
McQueen Industrial Park
7
Curtiss-Wright
4
IFA
8
MUSC Distribution Center
1 10 SAINT GEORGE
CHARLESTON, DORCHESTER AND BERKELEY COUNTIES
2
4 1 7
3
3
6
9 1
RIDGEVILLE
5
4 3
3
11 5
8
2 7
7 4
1 GOOSE CREEK
SUMMERVILLE
5
8
4
2 HANAHAN
6 6
8 NORTH
WEST ASHLEY
CHARLESTON
2 MOUNT PLEASANT DOWNTOWN CHARLESTON James Island
SPECULATIVE CONSTRUCTION COMPLETED CONSTRUCTION 2019 | 50,000 SF & ABOVE
CLARIUS 537 Omni Industrial Boulevard, Bldg. 1 Summerville, SC 29483 (Berkeley County)
SILVERMAN GROUP FTZ 1334 Drop Off Drive Summerville, SC 29483 (Berkeley County)
CHARLESTON LOGISTICS CENTER 830 Drop Off Drive Summerville, SC 29483 (Berkeley County)
NORTH POINTE COMMERCE PARK 1017 North Pointe Industrial Boulevard, Site 1 Hanahan, SC 29410 (Berkeley County)
Building Type: Distribution Status: Completed Q1/2019 RBA: 587,720 SF | 0% Leased Land Area: 42.68 Acres Asking Rate: $4.65-$4.85/NNN
Building Type: Distribution Status: Completed Q1/2019 RBA: 562,544 SF | 90.11% Leased Land Area: 84.37 Acres Asking Rate: $5.30/NNN
Building Type: Warehouse Status: Completed Q3/2018 RBA: 343,150 SF | 0% Leased Land Area: 66.75 Acres Asking Rate: $5.50/NNN
Building Type: Warehouse Status: Completed Q4/2018 RBA: 247,000 SF | 58% Leased Land Area: 19.55 Acres Asking Rate: $5.75/NNN
COMPLETED
PALMETTO COMMERCE PARKWAY 7770 Palmetto Commerce Parkway N. Charleston, SC 29456 (Charleston County)
PALMETTO TRADE CENTER 7791 Palmetto Commerce Parkway, Phase 1 N. Charleston, SC 29456 (Charleston County)
CHARLESTON TRADE CENTER 553 Trade Center Parkway, Bldg. 5A Summerville, SC 29483 (Berkeley County)
SUMMERVILLE DISTRIBUTION COMPLEX 270 Deming Way, Bldg. 1 Summerville, SC 29483 (Dorchester County)
Building Type: Warehouse Status: Completed Q2/2019 RBA: 196,540 SF | 0% Leased Land Area: 18.10 Acres Asking Rate: $6.00/NNN
Building Type: Distribution Status: Completed Q3/2019 RBA: 159,840 SF | 12.6% Leased Land Area: 30.50 Acres Asking Rate: $7.50/NNN
Building Type: Distribution Status: Completed Q3/2019 RBA: 136,500 SF | 15.4% Leased Land Area: 24.03 Acres Asking Rate: $6.50/NNN
Building Type: Distribution Status: Completed Q3/2019 RBA: 120,000 SF | 26% Leased Land Area: 11.67 Acres Asking Rate: $5.50-$6.50/NNN
COMPLETED CONSTRUCTION 2019 | 50,000 SF & ABOVE
COMPLETED
Building Type: Warehouse Status: Completed Q4/2018 RBA: 117,568 SF | 0% Leased *Expandable to 200,000 SF
SAMET BUILDING 635 Omni Industrial Boulevard, Bldg. 1 Summerville, SC 29483 (Berkeley County)
WINDING WOODS COMMERCE PARK 4756 Highway 78 Saint George, SC, 29477 (Dorchester County)
Land Area: 32 Acres Asking Rate: $5.75/NNN
Building Type: Manufacturing Status: Completed Q4/2017 RBA: 100,500 SF | 0% Leased Land Area: 17.26 acres Sale Price: $3,950,000 Asking Rate: $4.40/NNN
Building Type: Manufacturing Status: Completed Q3/2019 RBA: 64,000 SF | 12.5% Leased *Expandable to 128,000 SF
EASTPORT COMMERCE CENTER 104 Pinnacle Way Ladson, SC 29456 (Dorchester County)
Land Area: 11.21 Acres Asking Rate: $7.50/NNN
Q3 FAST FACTS Charleston Industrial Snapshot Vacancy:
6.2%
Construction Deliveries:
803,340 SF
Under Construction:
2,643,611 SF
Avg. Rental Rate:
$7.15/NNN
Net Absorption:
710,253 SF
Total Inventory:
84,676,690 SF
UNDER CONSTRUCTION 2019 | 50,000 SF & ABOVE
: Listed with Lee & Associates Charleston
UNDER
Building Type: Distribution Status: Delivers Q4/2019 RBA: 420,888 SF | 0% Leased *Expandable to 841,776 SF
LADSON INDUSTRIAL PARK Ladson & Stoney Road, Bldg. 1 Ladson, SC 29456 (Charleston County)
CROSSPOINT 7 4289 Crosspoint Drive Ladson, SC 29456 (Dorchester County)
SUMMERVILLE DISTRIBUTION COMPLEX 270 Deming Way, Bldg. 2 Summerville, SC 29483 (Dorchester County)
Land Area: 107.00 Acres Asking Rate: $5.35/NNN
Building Type: Distribution Status: Delivers Q4/2019 RBA: 364,000 SF | 71.5% Leased Land Area: 48.2 Acres Asking Rate: $5.75/NNN
Building Type: Distribution Status: Delivers Q4/2019 RBA: 128,000 SF | 0% Leased Land Area: 11.67 Acres Asking Rate: $5.50-$6.50/NNN
Port City Centre, LLC
PORT CITY CENTRE Jedburg Drive, Bldg. 1 Summerville, SC 29483 (Dorchester County)
Building Type: Distribution Status: Delivers Q2/2020 RBA: 50,000 SF | 0% Leased Land Area: 6.1 Acres Asking Rate: $7.50/NNN
PROPOSED CONSTRUCTION 2019 | 50,000 SF & ABOVE
: Listed with Lee & Associates Charleston
DHL COMMERCE PARK US Highway 78 St. George, SC 29477 (Dorchester County)
LOGISTICS PARK CAMP HALL 114 Three Point Drive, Bldg. C Ridgeville, SC 29472 (Berkeley County)
LOGISTICS PARK CAMP HALL 114 Three Point Drive, Bldg. A Ridgeville, SC 29472 (Berkeley County)
LOGISTICS PARK CAMP HALL 114 Three Point Drive, Bldg. B Ridgeville, SC 29472 (Berkeley County)
Building Type: Distribution/Manufacturing Status: Proposed 2020 RBA: 240,000 to 1,000,000 SF Land Area: 125 Acres Asking Rate: $4.85/NNN
Building Type: Manufacturing/Warehouse Status: Proposed RBA: 504,010 SF Land Area: 75.00 Acres Asking Rate: $5.35/NNN
Building Type: Manufacturing/Warehouse Status: Proposed RBA: 220,775 SF Land Area: 75.00 Acres Asking Rate: $5.35/NNN
Building Type: Manufacturing/Warehouse Status: Proposed RBA: 220,775 SF Land Area: 75.00 Acres Asking Rate: $5.35/NNN
PORTSIDE DISTRIBUTION CENTER 1 140 Portside Park Drive Summerville, SC 29483 (Berkeley County)
PATRIOT INDUSTRIAL PARK Patriot Boulevard N. Charleston, SC 29418 (Dorchester County)
Building Type: Distribution Status: Proposed RBA: 190,000 SF Land Area: 31.00 Acres Asking Rate: $6.25/NNN
Building Type: Distribution Status: Proposed RBA: 50,000-150,000 SF Land Area: 40 Acres Asking Rate: $5.75/NNN
Port City Centre, LLC
PORT CITY CENTRE Jedburg Drive, Bldg. 2 Summerville, SC 29483 (Dorchester County)
LANDMARK BUSINESS PARK
Q3 SPEC STATS
9571 Palmetto Commerce Pkwy, Bldg. 500 Ladson, SC 29456 (Charleston County)
Total Crane Tracker Available Speculative SF:
5,070,020 SF
Building Type: Distribution Status: Proposed RBA: 117,000 SF Land Area: 13.75 Acres Asking Rate: $6.00/NNN
Building Type: Distribution Status: Proposed RBA: 25,000 - 60,000 SF Land Area: 5 Acres Asking Rate: $7.95/NNN
Avg. Asking Rate:
$5.93/NNN
Avg. Speculative Building Size:
263,513 SF
BUILD TO SUIT CONSTRUCTION 2019 | 50,000 SF & ABOVE
: Listed with Lee & Associates Charleston
Building Type: Distribution Status: Delivers Q4/2020 RBA: 615,000 SF A&R LOGISTICS WEST BRANCH COMMERCE PARK Moncks Corner, SC 29461 (Charleston County)
FRONTIER LOGISTICS N. CHARLESTON DISTRIBUTION CENTER
Building Type: Manufacturing Status: Delivers Q3/2020 RBA: 555,000 SF Land Area: 25.30 Acres
Reynolds Avenue N. Charleston, SC 29405 (Charleston County)
MCQUEEN INDUSTRIAL PARK
Building Type: Industrial Status: Proposed RBA: 50,000-500,000 SF Land Area: 50.53 Acres
144 Innovation Drive Summerville, SC 29483 (Dorchester County)
Building Type: Manufacturing Status: Expansion Underway RBA: 276,000 SF | Expanding to 487,000 SF IFA 679 Trade Parkway Summerville, SC 29483 (Berkeley County)
Building Type: Distribution/Warehousing Status: Expansion Underway RBA: 109,984 SF | Expanding to 209,984 SF Land Area: 13.76 Acres ATLANTIC PACKAGING 101 Spaniel Lane Summerville, SC 29483 (Dorchester County)
Building Type: Warehousing Status: Delivers Q4/2019 RBA: 200,000 SF Land Area: 32 Acres SPYDER 635 Omni Industrial Blvd, Bldg. 2 Summerville, SC 29483 Berkeley County)
Building Type: Distribution Status: Delivers Q4/2019 RBA: 144,000 SF Land Area: 27.00 Acres CURTISS - WRIGHT 180 Trade Center Parkway, Bldg. 5B Summerville, SC 29483 (Berkeley County)
Building Type: Distribution Status: Completed Q3/2019 RBA: 106,000 SF Land Area: 13.49 Acres MUSC DISTRIBUTION CENTER 7771 Palmetto Commerce Parkway N. Charleston, SC 29456 (Charleston County)
C A P I TA L P L A N South Carolina Ports Authority (SCPA), the State of South Carolina, and other government agencies and partners are currently investing in nearly $2.6 billion in port-related infrastructure that will enhance operational performance and transportation infrastructure related to the movement of cargo at the Port and throughout the State. The below list includes recent investments along with planned investments through Fiscal Year 2022.
“Whether a company is considering South Carolina for a new or expanding operation, or just seeking incremental improvement of its logistical challenges, our team is a valuable resource.” – Paul McClintock, SVP Sales & Marketing
$2.4 billion in planned CAPEX
53 billion
Statewide Economic Impact
$2.6 Billion CAPEX Plan Supporting SC Ports Recent & Planned Investments Through FY2022 (Shown In Millions of Dollars)
52’
Channel Coming in 2021
187,200
SC Jobs Created by SCSPA
SCPA FUNDED INVESTMENTS Hugh Leatherman Terminal Phase 1
$846 Million
HLT Port Access Road (SCPA Portion)
$140 Million
Wando Welch Terminal Improvements
$450 Million
Inland Port Greer (Initial & Future)
$74 Million
Inland Port Dillon
$42 Million
All Other Terminal Investments
$126 Million
SC Ports Authority CAPEX Total:
$1,678 Million
1 Day Rail to Inland Port Greer
13 of 15
Top Container Lines
CAPITAL INVESTMENTS NOT FUNDED BY SCPA Harbor Deepening (State Contribution to Date)
$350 Million
Harbor Deepening (Federal Contribution to Date)
$108 Million
HLT Port Access Road (State Contribution)
$220 Million
Wando Wharf Strengthening (TIGER Grant)
$11 Million
Inland Port Greer (Norfolk Southern)
$8 Million
Inland Port Greer BUILD Grant
$15 Million
Inland Port Dillon (CSX)
$10 Million
New Intermodal Rail Facility (Palmetto Railways)
$250 Million
Other CAPEX Total:
$971 Million
Grand Total SC Port-Related Investment
$2,649 Million
*Source: http://www.scspa.com/cargo/planned-improvements/capital-plan/
500 ton Barge Crane
greenest Port in the Southeast
< 60 min
2-Way Truck Turn
PLAN FOCUS &
HIGHLIGHTS
HARBOR DEEPENING TO 52’ •
Fully permitted project under construction that will make Charleston
THE DEEPEST PORT ON THE EAST COAST BY 2021! NEW TERMINAL DEVELOPMENT: •
Container Terminal & Associated Transportation Infrastructure: » Phase 1 of the Hugh Leatherman Terminal, a new 286-acre container terminal located along west bank of the Cooper River » A Port Access Road is under construction that will connect terminal directly to I-26 » An Intermodal Transfer Facility, to be funded & operated by Palmetto Railways, will be located on private road adjacent to facility allowing for near-dock rail
RAIL-SERVED INLAND PORTS: Inland serves • Inland serves •
Port Greer - Commenced operations in November 2013; upstate of South Carolina; served by Norfolk Southern Port Dillon - Commenced operations in Spring 2018 ; Pee Dee region of state; served by CSX
WANDO WELCH TERMINAL IMPROVEMENTS: •
SCPA’s largest container terminal in both size & volume is currently being upgraded to better handle super-post-Panamax ships and to enhance terminal operations. Key projects include:
» Strengthen wharf & build toe wall - will help deepen harbor to 52’
» Purchase five Super-Post-Panamax Ship-to-Shore (STS) Cranes » Modification & raising of four existing STS Cranes » Purchase of 36 Rubber-Tired-Gantry Cranes » Construction of refrigerated service area & racking system » Traffic yard improvements & chassis yard relocation
ALL OTHER TERMINAL INVESTMENTS Info technology enhancements including new terminal operating system • Investment in new corporate headquarters • Equipment replacements & upgrades at all other terminals • Paving & infrastructure enhancements at various terminals •
*Source: http://www.scspa.com/cargo/planned-improvements/capital-plan/
MILTON THOMAS, CCIM, SIOR | MANAGING PRINCIPAL Milton is a twenty-nine year veteran of the commercial real estate industry here in Charleston, SC. He leads commercial site selection and build-to-suit projects with integrity and a high degree of expertise and accountability. He has earned a solid reputation in the industrial market by listening to his clients and guarding their interests. Milton gets to know his clients business, their market and their goals, and then he helps them make wise decisions. (843) 747-3999
MThomas@Lee-Associates.com
RYAN WELCH, SIOR | PRINCIPAL Ryan has experience and expertise encompassing the management of a diversity of commercial real estate types including land and industrial properties. Ryan has extensive agriculture experience with land and timber tracks, sales of Industrial buildings for landlords throughout the state of South Carolina. (843) 747-5856
RWelch@Lee-Associates.com
THOMAS BUIST, SIOR | BROKER Thomas specializes in sales and leasing of the industrial and warehousing inventory. He offers over 30 years of experience in industrial/commercial real estate as a state-licensed broker and is a past South Carolina licensed appraiser. Thomas is a native of Charleston, South Carolina, giving him an exception range of personal and business contacts to draw upon. Thomas also has expertise in ports, 3PL, bulk commodities, intermodal and land acquisition/assemblage. (843) 442-3888
TBuist@Lee-Associates.com
JON-MICHAEL BROCK | ASSOCIATE Jon-Michael joined Leeâ&#x20AC;&#x2122;s Industrial Brokerage Team in 2018, where his primary focus is the sales and leasing of single tenant and multi-tenant industrial property market locally here in Charleston. JonMichael has represented sales & leasing of both national/local landlords and tenants. He graduated from the College of Charleston. (843) 442-3888
JMBrock@Lee-Associates.com
CLARKE ATTAWAY | ASSOCIATE Clarke joined Leeâ&#x20AC;&#x2122;s Industrial Team in 2019 after serving as a Transitional Researcher with the firm. He focuses on sales and leasing of industrial properties. Prior to joining Lee, Clarke lived in Austin, Texas where focused on single-tenant industrial properties.
(843) 475-8285
CAttaway@Lee-Associates.com
APRIL CURCI | ASSOCIATE A Third-generation commercial real estate professional, Curci’s immersion in the Lowcountry’s commercial real estate market includes specializing in the logistics and transportation of products coming through the Panama Canal and their dispersal across the United States. Curci graduated from the College of Charleston and is a member of the Sigma Epsilon real estate honorary society. (602) 625-3104
ACurci@Lee-Associates.com
WESTON BRADLEY | ASSOCIATE After completing the Transitional Researcher program with the firm, Lee & Associates welcomed Weston to the Industrial Brokerage Team in 2019. Along with Land sales, he focuses on sales and leasing of industrial properties in South Carolina. In 2016, after graduating from The University of the South with an Economics degree and a concentration in Mathematics, he decided to make Charleston home. Weston currently holds a real estate license in South Carolina. (843) 203-1060
WBradley@Lee-Associates.com
HUNTER HARLTLEY | TRANSITIONAL RESEARCHER As a Transitional Researcher for Lee & Associates Charleston, Hunter helps prepare market research reports and comp records. He also maintains pipeline records, aids brokers in all capacities, and actively participates in a rigorous training program. Hunter began his journey with Lee last summer as an intern and has also completed internships at Trinity Partners Columbia (843) 203-1067
HHartley@Lee-Associates.com
THOMAS FAWCETT | TRANSITIONAL RESEARCHER As a Transitional Researcher for Lee & Associates Charleston, Thomas prepares market research reports and comp records. He also maintains pipeline records, aids brokers in all capacities, and actively participates in a rigorous training program. After graduating from Auburn, Thomas spent his summer as an intern at Lee and has also completed internships at Goepper Burkhardt Retirement Wealth Management. He actively holds a South Carolina and Alabama Real Estate license. (843) 747-2292
TFawcett@Lee-Associates.com
LAUREN PARKER | INDUSTRIAL BROKER SERVICES COORDINATOR As the Industrial Broker Services Coordinator, Lauren assists the industrial agents in all aspects of selling/ leasing and buyer/tenant rep assignments. She performs in-depth market research, prepares important documentation, manages files, and coordinates the entire listing process from start to finish. Lauren also carries out various public relation’s tasks and all aspects of marketing. She currently holds a South Carolina real estate license. (843) 203-1052
LParker@Lee-Associates.com
We obtained the information contained herein from sources we deem to be reliable; however, we have not verified the accuracy or suitability of said information and we hereby make no guarantee, warranty or representation with regard to said information. This information is submitted subject to the possibility of errors or omissions; change in price, rental, or other conditions; prior sale or lease; and/or withdrawal from the market without notice. Any projections, opinions, assumptions, and estimates included herein are for example only; these examples may not represent current or future performance of the subject property. We hereby advise any party interested in the subject property to seek tax and/or legal advice in order to conduct one’s own investigation of the subject property and any contemplated transaction thereon.
Q3 2019
960 Morrison Drive, Suite 400
| Charleston, SC 29403 | 843.747.1200 | lee-charleston.com