CCP Lands 202 KSF Charleston-Area Industrial Asset
- Feb 13, 2018
CBRE Capital Markets has executed the sale of Foxbank Industrial Park, a 201,500-square-foot manufacturing and distribution facility in Moncks Corner, S.C. CCP Commercial Real Estate purchased the property from JL Woode. CBRE represented the seller in this transaction.
Located at 2550 Highway 52 in Berkeley County, just north of Charleston, the property is home to anchor tenant Sea Fox Boats, a manufacturer of saltwater boats. The distribution facility sits on more than 30 acres and features 25- to 35-foot clear heights, 10,280 square feet of office space, ample power infrastructure, bridge cranes, 18 oversized ground-level doors and an outside storage area.
Last year, the Charleston industrial market absorbed more than 2.6 million square feet of space. During the fourth quarter of 2017, absorption exceeded 700,000 square feet for the sixth time during the last nine quarters. “The investor appetite for industrial investment in the Charleston area is robust, with limited opportunities available in today’s market,” said CBRE Capital Markets Executive Vice President Patrick Gildea, in a prepared statement.
Gildea, Bob Barrineau, Brendan Redeyoff and Matt Smith were all part of the team involved in this transaction. Earlier this year, a different CBRE Capital Markets team arranged the sale of Sawgrass Pointe I, a 230,668-square-foot, Class A office building in Sunrise, Fla.
Image courtesy of CBRE