Three major tenants sign on to the future office development, bringing it to 78% pre-leased.
Charleston, SC – Park Circle’s newest office development, the Ice House at Park Circle, will welcome three new tenants as construction is completed in late 2021. Pat Marr of WRS, Inc. Real Estate Investments and Kevin Klemm of Paragon Commercial Development are partnering to redevelop the 80-year-old Reddy Ice property on Spruill Avenue.
Colliers| South Carolina, Samet Corporation and The Middleton Group have all signed leases to move to the office park. The three future tenants are part of Charleston’s commercial real estate industry on a local, regional and international level and are involved in the design, construction, leasing and marketing teams for the project. Each company’s optimism about the future of this corridor led them to relocate their own offices to the project.
The future tenants will be relocating to the former ice processing facility that is being redeveloped as an office park totaling ±52,000 square feet in three two-story buildings. The Ice House at Park Circle will be an adaptive reuse project to preserve the original ice manufacturing facility and demolish several buildings to make way for new contemporary office buildings.
Colliers| South Carolina is performing the leasing, marketing and property management services for the Ice House at Park Circle. The commercial real estate firm will be moving their Charleston office to the second floor of Building Two at the end of this year.
“It’s so great to see an office project in this area achieve almost 80% pre-leasing prior to construction starting in April 2021,” said Kristie Roe, Senior Brokerage Associate with Colliers | South Carolina. “Holy City Brewing, Firefly Distillery and The CODfather will be our immediate neighbors, and their presence has helped distinguish Park Circle and Spruill Avenue as the brewery and restaurant district of North Charleston. The popularity of the area combined with the strong pre-leasing activity solidifies the need for more innovative office product nearby.”
Samet Corporation is performing the construction for the Ice House at Park Circle. They will be moving into Building One, the redeveloped Reddy Ice building.
“We are thrilled to be part of the redevelopment area of Spruill Avenue at Park Circle,” said Carson Knizevski, Regional Vice President at Samet Corporation. “The amount of energy and momentum along with the existing tenant mix makes this the perfect new home for Samet Corporation in the Lowcountry. As a developer and builder in North Charleston, we are glad to have our new offices in a community that really sets itself apart in its progressive and pro-business approach.”
The Middleton Group, an award-winning architectural firm, has provided architectural and interior design services for the project. They will be moving into the first floor of Building Two.
“We are very excited to be working with such a forward-looking client and creative project team,” said Laura Middleton, Principal of The Middleton Group. “As future tenants, the Ice House at Park Circle will serve as a showcase of our design capabilities for both new construction and historic adaptive reuse projects. We look forward to making this development our new home.”
Demolition and construction for the Ice House at Park Circle is underway and a delivery date is set for the end of the year. For leasing information, contact Kristie Roe at (843) 720-7504.
Colliers | South Carolina has over 150 staff members, including 62 licensed real estate professionals, covering the entire state with locations in Charleston, Columbia, Greenville and Spartanburg. Total 2020 brokerage volume exceeded $533 million, which included over 456 sales and leasing transactions. In addition to traditional commercial real estate representation services for our clients, the company is actively engaged in Corporate Solutions and Healthcare Services. Colliers is an Accredited Management Organization (AMO) through the Institute of Real Estate Management (IREM) and is the largest manager of commercial real estate properties in South Carolina, with a portfolio of over 16 million square feet of office, industrial, retail and healthcare properties. Colliers | South Carolina’s staff hold 49 professional designations, the most of any firm in South Carolina. Colliers | South Carolina’s partner, LCK, provides project management services for new facilities and renovations across South Carolina.
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.