CCP Commercial Real Estate Increases Their Presence in South Carolina with the Acquisition of an Industrial Warehouse in Charleston
Tuesday, February 27th, 2018
Commercial real estate investment company, CCP Commercial Real Estate, is proud to announce the acquisition of an industrial warehouse property located in Charleston, SC.
Foxbank Industrial Park is a 201,585-square-foot, dual-tenant, 100%-leased manufacturing and distribution facility. The property was acquired on February 6, 2018.
"We are very pleased with our continued expansion into new markets located throughout the Southeastern U.S. Foxbank Industrial Park is located in one of Charleston's best performing submarkets, the Highway 52 Corridor. The property is 100% leased to two tenants and is comprised of 32 acres of land lending itself to potential future development. The Charleston industrial market has experienced 19.75% year over year rent growth, creating the opportunity for attractive Net Operating Income (NOI) growth. We were able to purchase the property at an attractive discount to replacement cost," said Jeremy R. McLendon, President of CCP Commercial Real Estate.