Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in the brand-new industrial facility located at 1100 Business Park Rd, Summerville, South Carolina. The single-tenant industrial building totals approximately 8,400 square-feet and rests on approximately 2.00 acres with rare heavy industrial zoning. TEC Equipment recently executed a 5-year NNN lease that features 3% annual escalations and minimal landlord responsibilities. The tenant’s parent company, Evans Management Group (EMG), is more commonly known for owning one of the most reputable multifamily general contractors in the southeast, CF Evans and Company, Inc. Additionally, the property offers ideal passive income from an advertisement billboard leased by Aloft Media Solutions, LLC, with roughly 7.5 years of base term remaining. Located along the Atlantic seaboard, the Charleston metro encompasses Charleston, Berkeley and Dorchester counties in southeastern South Carolina. A favorable business climate is helping draw companies and workers to the region. Vehicle manufacturing in particular is growing with recent expansions at Mercedes-Benz and Volvo. Additionally, Walmart recently developed a new 3 million square-foot distribution center in Ridgeville. The metro population has grown by roughly 243,000 people since 2000 and the market is forecast to receive another 75,000 people through 2024. Charleston is the largest city in the metro with 142,000 residents, followed by North Charleston with 109,800.