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Office Warehouse

Industrial Business Park NNN

133 Elliana Way, Summerville, SC 29483

Listing Price: $5,692,500

Cap Rate
6.00%
Gross SF
42,296
Price/Gross SF
$134.59
Lot Size
3.77 acres
Year Built
2002
Rentable SF
42,296

Investment Overview

The AP Group of Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in Hensley Business Park, a four-building industrial/flex park located in Summerville, South Carolina. The subject property consists of two parcels totaling 3.77 acres and four buildings 100% occupied by long term tenants on NNN leases. Terms remaining on leases range from 1-3 years and most leases feature annual rent escalations and guarantees. Most tenants in the center have been occupants there since the buildings were built in the early 2000s. 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. Walmart also recently announced plans to develop a 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.

Investment Highlights

  • 100% Occupied Industrial/Flex Park in Summerville, SC | 4 Total Buildings, All Multitenant
  • All Tenants on NNN Leases | Minimal Landlord Responsibilities | Upside By Raising Rents to Market
  • Strong Tenant Commitment | Long Term Tenants Using the Space for Nearly 20 Years
  • Stagger Lease Rollover and Majority of Leases Feature Annual Escalations
  • Primely Located in Charleston MSA's Rapidly Expanding Industrial Submarket of Summerville
  • Located in Proximity to the Recently-Expanded Port of Charleston | Numerous Businesses Expanding Nearby

Exclusively Listed By

Office Warehouse

Industrial Business Park NNN

Listing Price: $5,692,500

Cap Rate
6.00%
Gross SF
42,296
Price/Gross SF
$134.59
Lot Size
3.77 acres
Year Built
2002
Rentable SF
42,296

Investment Highlights

  • 100% Occupied Industrial/Flex Park in Summerville, SC | 4 Total Buildings, All Multitenant
  • All Tenants on NNN Leases | Minimal Landlord Responsibilities | Upside By Raising Rents to Market
  • Strong Tenant Commitment | Long Term Tenants Using the Space for Nearly 20 Years
  • Stagger Lease Rollover and Majority of Leases Feature Annual Escalations
  • Primely Located in Charleston MSA's Rapidly Expanding Industrial Submarket of Summerville
  • Located in Proximity to the Recently-Expanded Port of Charleston | Numerous Businesses Expanding Nearby

Investment Overview

The AP Group of Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in Hensley Business Park, a four-building industrial/flex park located in Summerville, South Carolina. The subject property consists of two parcels totaling 3.77 acres and four buildings 100% occupied by long term tenants on NNN leases. Terms remaining on leases range from 1-3 years and most leases feature annual rent escalations and guarantees. Most tenants in the center have been occupants there since the buildings were built in the early 2000s. 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. Walmart also recently announced plans to develop a 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.

Exclusively Listed By

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