Edgewater Ventures today announces its first industrial real estate acquisition in the Charleston region, a 603,214 square foot class A distribution facility in close proximity to the South Carolina Ports’ Wando Welch Terminal. The building was purchased from Gildan Activewear who will lease back the facility from the new ownership, a joint venture between Edgewater Ventures and Singerman Real Estate.
The property is strategically located on 80.77 acres at 1980 Clements Ferry Road less than four miles from Interstate 526 and less than ten miles from the Wando Welch Terminal. The building features state-of-the-art tilt-up concrete construction with 40’+ clear heights, 66,700 square feet of office area, 100% HVAC, heavy electrical power, 300 employee parking spaces, and a double-sided loading configuration with extensive trailer storage on site. Edgewater also has plans to subdivide approximately 21 acres to develop an additional 300,000 square foot Class A industrial facility.
The acquisition of 1980 Clements Ferry Road is Edgewater Ventures’ first industrial acquisition in Charleston and increases the firm’s total Carolinas industrial portfolio to approximately 3.6 million square feet. Edgewater also has approximately 1.6 million square feet of Class A industrial development in the pipeline in the Charlotte, Raleigh, Wilmington and Myrtle Beach markets.
“We’re excited to add 1980 Clements Ferry Road to our growing industrial portfolio in the Carolinas,” said Chris Norvell, the lead industrial partner at Edgewater Ventures. “We’re incredibly bullish on the Charleston industrial market and the long-term growth potential of the South Carolina Ports. This will be our first, but not last, acquisition in the market and we look forward to adding additional industrial assets and development opportunities throughout the region.”
Singerman Real Estate has been active in the Charleston market since 2016, including through the development of the highly successful Charleston Trade Center industrial campus in Summerville among other investments.
“We are excited about the investment and the growth of our partnership with Edgewater Ventures. This investment represents our continued conviction in the Charleston market across real estate asset classes. We have been and remain committed to being one of the most active owners and developers of industrial in the Charleston market after developing and leasing over 3.5 million square feet over the past several years,” said Kiley Carter, principal with Singerman Real Estate.