NAI Charleston facilitates $18 million sale of Upper Peninsula site to City of Charleston

NAI Charleston announced the $18 million sale of approximately 2.44 acres, prominently located near the intersection of Huger Street and Morrison Drive on Charleston’s Upper Peninsula. Jack Owens, CCIM of NAI Charleston represented the International Longshoremen’s Association, Local 1422-A and the International Longshoremen’s Pension and Welfare Trust in the sale to the City of Charleston. The transaction closed on August 31, 2026.

The City acquired the property as part of Project 3500, Mayor William Cogswell’s initiative to deliver 3,500 new affordable and attainable homes throughout Charleston by 2032. Plans for the site call for approximately 190 mixed-use, mixed-income homes.

“It was an honor to work closely with the International Longshoremen’s Association, Local 1422-A and the International Longshoremen’s Pension and Welfare Trust on this significant transaction,” said Owens. “The Sellers were pleased to work with the City of Charleston and contribute to its vision for Project 3500. The Mayor’s Office and City staff were organized, professional and focused throughout the process, helping bring the property to a successful closing.”

Located on the rapidly evolving Upper Peninsula, the property offers proximity to major employment centers and public transit and sits near significant public and private investments, including the Lowline, Lowcountry Rapid Transit corridor and ongoing drainage and stormwater improvements. The City plans to advance design and entitlement work for the property before partnering with the private sector to deliver the mixed-income community. The acquisition represents an important step forward for Project 3500 while creating an opportunity to transform a strategically located Upper Peninsula site in support of Charleston’s long-term housing goals.

NAI Charleston is proud to have represented the Sellers in this transaction and to have played a role in a project that will contribute to the future of the Charleston community.

For more information on the transaction, contact Jack Owens, CCIM at 843.696.7653/ [email protected].

About NAI Charleston

NAI Charleston(opens in new tab) is a full-service commercial real estate firm whose industry experts have over a century of combined experience in the Charleston commercial real estate industry and over $1 billion in total transaction volume. In 2017, local brokers Thomas Boulware, Dexter Rumsey, David Ingle and David Grubbs partnered together to found NAI Charleston as an independent franchise of NAI Global, one of the leading global commercial real estate firms, to strengthen their leadership and footprint in the Lowcountry. An owner-operated firm, NAI Charleston possesses a highly personal and unwavering commitment to excellence that can’t be duplicated. Local ownership and leadership, paired with global resources, enable them to offer clients unparalleled services. As a member of NAI Global, NAI Charleston has independent access to the largest, most powerful network of owner-operated commercial real estate firms in the world. Their affiliates comprise 5,800 professionals in 325 offices and 36 countries. Their brokerage, development, management, and consulting services are tailor-made to meet the specific needs of each assignment – from single transactions to coordinating the delivery of multiple services over broad geographic areas. http://www.naicharleston.com