NAI Earle Furman’s Multifamily Division closes sale of two high-profile development sites slated to become Class AA Apartment Communities
July 19, 2016
Pendleton Street Baptist Church in Downtown Greenville and an 18-Acre site on Laurens Road
are Greenville’s latest Multifamily Development Projects
NAI Earle Furman, a leading full-service commercial real estate firm in Upstate, South Carolina, announced the sale of two high-profile local properties: Pendleton Street Baptist Church in Downtown Greenville’s historic West End and an 18-acre site on Laurens Road. Both projects slated for Class AA Apartment Communities.
Pendleton Street Baptist Church
Tony Bonitati, Kay Hill and Bern DuPree of NAI Earle Furman’s Multifamily Division represented the buyer and developer, Woodfield Investments, in the purchase of approximately 3.0 acres at 1100 South Main Street across from Flour Field in Downtown Greenville’s historic West End. Marty Navarro of NRE Property Group represented the Seller. Woodfield Investments plans to develop a Class AA multifamily community on the site. The five-story complex consisting of 271 luxury apartments and two retail bays gained approval from the city’s Design Review Board last fall and construction is set to begin immediately.
“NAI Earle Furman and their multi-family team did a remarkable job assisting us on this unique acquisition,” says Brian Schick, Woodfield Investments’ Development Partner. “Kay Hill has, now for a second time, led successful missions to site outstanding locations for Woodfield’s Class A institutional assets. We could not be more pleased with NAI Earle Furman and look forward to our next opportunity in Greenville.”
This is Woodfield’s second project in the Upstate. Their first was a suburban site upon which they developed and constructed the Innovation Apartment Homes consisting of 336 Class A multifamily residences located on Laurens Road and Innovation Drive in Greenville. NAI Earle Furman’s Multifamily Division represented Woodfield Investments in acquiring both of their Upstate, South Carolina projects.
Laurens Road Parcel
Tony Bonitati, Kay Hill and Bern DuPree of NAI Earle Furman’s Multifamily Division represented the buyer and developer, Continental Properties, in the purchase of approximately 18 acres on Laurens Road. J. Earle Furman, Jr., Broker and Chairman of NAI Earle Furman represented the seller, Hollingsworth on Wheels, LLC. Continental Properties plans to develop a Class AA apartment community on the site consisting of 272 apartment homes. This new development will be called Springs at Laurens Road and feature Continental’s brand hallmarks: townhome-style, ground-level private entries to every home and a commitment to offering outstanding customer service backed by a 30-day pledge. This is Continental Properties’ second multifamily development in the Greenville, South Carolina market. They currently own and operate the Springs at Greenville apartment community located just off Woodruff Road on Oak Springs Drive.
“We are very optimistic about our new apartments in Greenville,” says John Minahan, Director of Multifamily Development for Continental Properties. “Continental is very deliberate in picking sites for our communities and we were very pleased to have excellent partners in the team from NAI Earle Furman. They helped us find a great location for Springs at Laurens Road, our second Greenville location.”
Additional Resources:
Innovation Apartment Homes Website
Continental Properties’ Announcement – Springs at Laurens Road
Springs at Laurens Road Website
About NAI Earle Furman
Based in Upstate South Carolina, NAI Earle Furman is a leading full-service commercial real estate firm specializing in the office, industrial, investment, retail, multifamily, healthcare and land sectors. They offer a wide range of services including sales, leasing, development, site selection, consulting and property management. A partnership with NAI Global allows NAI Earle Furman to access a network of worldwide real estate connections and offer international commercial real estate services to Upstate clients, while retaining local personality and knowledge. 2016 marks NAI Earle Furman’s 30thAnniversary. For more information, visit www.naiearlefurman.com.
