Thursday, January 10, 2013

Charlotte's Beacon Partners buys Charleston building

Charlotte‐based Beacon Partners, a privately held commercial real estate investment and service

company, recently purchased North Rhett Commerce Center, a 511,891-square-foot industrial warehouse facility on 34 acres in North Charleston.

The facility currently houses Husqvarna Professional Products and Integris Logistics as tenants.   Beacon says it will make renovations and improvements over the coming months to enhance the property’s functionality, energy efficiency and appearance.

 This is Beacon’s first acquisition in the Charleston area. Its existing portfolio includes 8 million square feet of office and industrial property in the Carolinas.

“We’ve been studying the Charleston industrial market for some time,” says Beacon Partners’ Chip Stanley.  “North Rhett Commerce Center presented a solid opportunity and location to capitalize on very positive developments with the Port of Charleston, a diverse manufacturing base and advanced security industries in the Charleston region.”

Beacon represented itself in the transaction and the seller was assisted by Hagood Morrison of Colliers International.