Colliers International represents seller of Charleston landmark “Vice Principals” production facility
March 16, 2017
Sale of facility indicates strong activity from institutional investors in the market
Colliers International’s Hagood Morrison, SIOR, MBA represented Montague Overpass Associates, the seller, in the sale transaction of the Goer Manufacturing facility. The approximately 327,000 square-foot facility, sold for $8.5 million, is an industrial landmark in Charleston and is located at 4500 Goer Drive at the intersection of I-26 and Montague Avenue.
“The facility has been the site of several movie and television productions, most notably the last Danny McBride series, Vice Principals,” said Morrison. “Ownership anticipates a mix of tenants including rail users and other port related logistics companies, production companies, light manufacturers and office tenants.”
The building was purchased by GFI Partners in a joint venture with a national logistics company. The buyers plan to restore the facility and reinvest in the building maintenance to attract tenants. This sale is an example of the strong investment activity in the Charleston industrial market that is expected to continue throughout 2017.
Morrison specializes in industrial brokerage in Charleston and the surrounding region, representing logistics companies and manufacturers and brokering a variety of industrial sales. He also focuses on real estate investment transactions and brings an institutional mindset to building owners.
About Colliers International
Colliers International | South Carolina has over 160 staff members, including 55 real estate professionals. Total brokerage volume for the firm in 2015 was approximately $574.75 million involving over 767 sales and leasing transactions. Colliers International is the largest manager of commercial property in South Carolina and is an Accredited Management Organization (AMO) through the Institute of Real Estate Management (IREM), with a portfolio in excess of 14 million square feet of office, industrial, retail and healthcare properties. Colliers International’s staff holds 56 professional designations, the most of any firm in South Carolina.
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