September 13, 2017
A joint venture owned by North Signal Capital LLC and a fund managed by Westport Capital Partners LLC, has purchased two industrial sites at North Pointe Commerce Park in Charleston, SC. The joint venture plans to develop the sites as a speculative 400,000-square-foot Class A industrial building and a build-to-suit.
Site 1, a roughly 250,000 square foot speculative building, is slated to break ground this month with delivery planned for September 2018. Site 2, which is planned as a build-to-suit, also has the potential to deliver as soon as September 2018. The sites are near the port, airport, interstate highways and the SPAWAR US naval installation.
Colliers International represented WestRock, the seller, in the transaction. The sites were previously part of WestRock’s industrial holdings. Colliers’ Peter Fennelly, Hagood Morrison and Simons Johnson are handling the assignment for North Pointe Commerce Park.
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