Hagood Morrison, SIOR, represented the buyer in the purchase of a 162,000 SF ($54/SF) distribution and manufacturing facility in Summerville. Lee Distributors plans to occupy the building, located at 325 Marymeade Drive, after an extensive renovation. No article/link.
Liz Segrist of The Charleston Regional Business Journal reports on the tightening warehouse market resulting in increasing rental rate pressure, justifying new construction. Colliers colleagues, Peter Fennelly, SIOR, MCR and Hagood Morrison, SIOR, are quoted saying new development will come by the end of 2014.
Advised by Hagood Morrison, SIOR, of Colliers International’s Charleston office, Kontane Logistics bought a building at Charleston Regional Business Center off Clements Ferry Road in CHS for its local expansion. The article is here from Tyrone Richardson of The Post and Courier.
Hagood Morrison, SIOR, of Colliers International’s CHS office publishes the Q3 2013 Industrial Market Overview on the local warehouse/port market. See the link here (registration required).