JLL Capital Markets facilitates sale of a Class A industrial property in an infill area on Palmetto Commerce Parkway in Charleston, SC

7770 Palmetto Commerce Parkway, Charleston, SC

 

CHARLESTON, SC, Nov. 17, 2021 – JLL Capital Markets announced today that it has closed the sale of 7770 Palmetto Commerce Pkwy., a 196,540-square-foot, Class A industrial facility in Charleston, South Carolina.

 JLL marketed the property on behalf of the seller, a joint venture between The Beach Company and Samet Corporation. INDUS Realty Trust, Inc. (Nasdaq: INDT) acquired the asset.

 Pete Pittroff

7770 Palmetto Commerce Pkwy. is situated at an infill location adjacent to Interstate 26, which provides seamless connectivity to Interstates 526 and 95 and the surrounding region.

The property also benefits from its direct access to Charleston’s world-class logistics infrastructure, which includes Charleston International Airport (CHS) and the Port of Charleston terminals.

Charleston continues to transform into a premier logistical hub and rapidly developed locations near the major infrastructure drivers are becoming more difficult to reproduce.

 The property is a Class A rear-load warehouse facility possessing a multitude of above-standard features.

The facility is partially leased to Cummins, Inc., which carries a large presence throughout the Charleston market, among many other major regional manufacturers that include companies such as Mercedes-Benz, Boeing and Volvo.

Dave Andrews

The JLL Capital Markets team representing the seller was led by Senior Managing Director Pete Pittroff, Director Dave Andrews, Managing Director Patrick Nally and Analysts Josh McArdle, Michael Scarnato and Zach Lloyd.

 “As witnessed over the past year, the Charleston industrial capital markets environment remains exceptionally healthy and continues to progress rapidly,” Andrews said.

“Charleston has solidified itself as a top secondary market has become an incredibly attractive, high-growth market for allocators of core capital.

"The 7770 Palmetto Commerce Pkwy. transaction exhibits the continued influx of institutional investors to the Charleston market and showcases investor appetite for higher-yielding, value-add industrial opportunities.”

Patrick Nally

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.

 

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 For more news, videos and research resources on JLL, please visit our newsroom.

 About The Beach Company

Founded in 1945 by J.C. Long, The Beach Company is well known for real estate development in South Carolina.

J.C. Long

With a history of establishing landmark properties and communities, The Beach Company evaluates each development opportunity for its potential to improve the quality of life for its neighbors and contribute to the long-term economic vitality of the region.

The Beach Company’s diverse real estate interests include residential and resort properties, office buildings, shopping centers, industrial parks and land across the Southeast.

With progressive vision, influenced by a deep reverence for tradition, The Beach Company’s mission is to create enduring value in every endeavor for generations to come.

 About Samet Corporation

Samet Corporation is a full-service general contractor and real estate development firm exceeding clients’ expectations across a broad range of markets since 1961.

Josh McArdle

The company’s project portfolio includes numerous educational, industrial, office, healthcare, retail, multi-unit residential and civic facilities.

Recently ranked No. 34 on the Engineering News and Record Southeast Top Contractors, Samet Corporation is headquartered in Greensboro, with offices in Charlotte, Raleigh, Charleston, Savannah and Wilmington.

 About INDUS Realty Trust, Inc. (“INDUS”)

INDUS is a real estate business principally engaged in developing, acquiring, managing and leasing industrial/logistics properties.

Michael Scarnato 

INDUS owns 46 buildings totaling approximately 5.7 million square feet (including 36 industrial/logistics buildings aggregating approximately 5.3 million square feet) in Connecticut, Pennsylvania, North Carolina, South Carolina and Florida in addition to over 3,100 acres of undeveloped land.

 

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management.

Zach Lloyd

JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.

JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce more than 95,000 as of September 30, 2021.

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

Contacts: 

 

Kimberly Steele

JLL Manager

Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

sametcorp.com.