CBRE arranges sale of 27.4 acres in the Charleston Tradeport
November 3, 2015
CHARLESTON, SC – CBRE announced the recent sale of 27.4 acres at 164 Spring Grove in Moncks Corner, South Carolina. The property is part of the Charleston Tradeport, a 433-plus acre area of land currently available for heavy industrial development opportunities in the heart of Berkeley County. The remaining 400 acres available in the Charleston Tradeport boast unparalleled transportation and logistics advantages along with unmatched incentives Berkeley County offers.
With a $7.5 million investment, A&R Bulk Pak, Inc., a packaging company, will develop the site to include a new 240,000-square-foot packaging and distribution facility including rail storage capacity for over 100 railcars. The transaction marks a planned reactivation of a CSX rail spur on the property and the first packaging facility to locate in the Southeast with the intention of utilizing the Gulf Coast for sourcing plastic resin.
“Oil price volatility and supply chain diversification are pushing demand for industrial property with access to rail.” said CBRE Senior Vice President Robert Barrineau. “This transaction is emblematic of the desire for users to have access to multiple modes of transportation to help mitigate risk.”
“There is a great demand for locations where transportation infrastructure, storage and export capacity are available to support the petrochemical industry,” said CBRE Research Manager Brian Reed. “Charleston provides all of those to allow for competitive export pricing with reduced schedule risk.”
“The success of the Berkeley County industrial corridor can be is attributed to the highly successful public-private partnerships found here in South Carolina,” said CBRE Senior Associate Brendan Redeyoff. “The land sale and future development at the Charleston Tradeport is a direct result of support between state and county leadership, South Carolina Ports and CSX Railroad. We are excited about the reactivation of the CSX rail spur and the potential the remaining 400 acres Charleston Tradeport has to offer.”
CBRE’s industrial professionals Barrineau and Redeyoff represented the seller, Gwinnett Industries, Inc. and the buyer was represented by Lee Allen from Jones Lang LaSalle.
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 (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
