Trinity Partners’ Macon Lovelace, SIOR, recently facilitated a development site sale in North Myrtle Beach. The 10.88-acre site is situated at the corner of Highway 17 South and North Myrtle Point Drive and sold for $2,000,000. Trinity Partners represented The Catherine Tilghman Trust in the sale of the property.
The purchaser, Meraki Management Company, LLC will be developing a five-building mixed use development totaling approximately 150,000 square feet. The development will include ground floor commercial space in several of the buildings to include medical office space, general retail and restaurant space with large outdoor dining space overlooking the ponds and preserved natural wetlands areas. The top two floors of the building will be developed and sold as residential condominiums ranging from one to three-bedroom units. Project amenities are expected to include walking trails, a dog park, entertainment and lawn pavilion and multiple ponds on site. The total estimated development will cost approximately $28 million, and construction is expected to commence in July or August 2022.
“We very much enjoyed working with the developer on this project and their vision to bring a class A mixed use project to the North Myrtle Beach area that would satisfy the demand in the market. It was very important for the Tilghman family to select a developer with this unique vision to preserve the beautiful hardwoods in this property and the natural landscape around the wetlands area.” said Macon.
For additional information on this transaction, please contact Macon Lovelace, SIOR at [email protected]. To learn more about Trinity Partners, visit trinity-partners.com and follow us on Instagram: @trinitypartnerscola.
ABOUT TRINITY PARTNERS
Trinity Partners is a full-service commercial real estate firm serving corporate users and institutional owners throughout the United States, with ten service lines ranging from landlord and tenant representation to property management and investment sales. They are known for their entrepreneurial spirit, best-in-class performance, and respected team of commercial real estate professionals, who are directly responsible for the company’s success and collaborative culture. The firm currently leases and/or manages over 25 million square feet of office, industrial, mixed-use, and retail space across the region through their four offices in Charlotte and Raleigh, North Carolina, and Columbia and Greenville, South Carolina.