Commercial real estate services firm Cushman & Wakefield arranged the sale of Oak Ridge at Pelham, a 252-unit apartment community located in Greenville.
Tai Cohen, Marc Robinson and John Phoenix of Cushman & Wakefield represented the seller, Graves Brothers Co., in the transaction. Timberland Partners acquired the property.
“Oak Ridge at Pelham presented the opportunity to invest in an extremely well-maintained asset located in the coveted Thornblade neighborhood and implement a value-add campaign to boost rental rates,” Cohen said in a news release. “Greenville is a thriving multifamily market offering immense growth opportunities.”
Built in 1986, Oak Ridge at Pelham is a two-story property with low density that was held by the owner for more than 16 years and maintained through curb appeal and structural enhancements, according to the news release. Amenities include a basketball court, car care center, fitness center, grilling/picnic areas, laundry facilities, nature trail, pet park, business center, swimming pool and tennis court.
Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in more than 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services.
The following commercial real estate transactions were recently completed in the Upstate. For weekly updates on commercial deals, see the Hot Properties feature every Tuesday in the GSA Business Report Daily email.
Avison Young commercial real estate is pleased to announce that Rakan Draz, James McKay and John Odom of Avison Young represented Sum Bar in the lease of 1,500 square feet of retail space at 307 E. Washington St. in Greenville from Stone Family Properties.
T Cox of Coldwell Banker Commercial Caine represented South Greenville Fire District, which purchased 1.16 acres at 8315 Augusta Road in Pelzer, from South Greenville Masonic Lodge No. 425.
Tim Satterfield of Coldwell Banker Commercial Caine represented Orin W. Beach Jr. and Mylnor Scruggs Beach, who sold a 3,894-square-foot industrial building at 977 S. Church St., Spartanburg, to OCAP LLC.
Pete Brett and T Cox of Coldwell Banker Commercial Caine represented Bright Investments II LLC, the landlord, in the lease of a 1,200-square-foot retail space at Garlington Station, 700 Garlington Road, Unit B, in Greenville to Life’s Stolen Moments LLC.
Frank Hammond of Colliers represented SH Real Estate LLC in the purchase of 11.55 acres of land at 31 Patewood Drive in Greenville for $7,404,000.
Garrett Scott, John Montgomery and Brockton Hall of Colliers South Carolina represented Weston Inc. in the lease of 50,000 square feet at 625 S. Old Piedmont Highway and 158,879 square feet at 220 Commerce Road in Greenville to Crown Imports LLC.
Tyson Smoak, Josh Tew and Monty Todd of Pintail Capital Partners represented the buyer in the purchase of a 17,300-square-foot professional office building located at 86 Brookfield Oaks Drive in Greenville.
Josh Tew and Monty Todd of Pintail Capital Partners represented the landlord, Sweet K12 LLC, in the lease of 1,400 square feet of space at 25 Sweetbriar Drive in Greenville to 864 Sound. In a separate transaction, they also represented the landlord in leasing 1,333 square feet of space at 25 Sweetbriar Drive to New Growth Counseling.
Zach Hines and Cameron Smith of Spencer/Hines Properties represented the Landlord, Rallis Holdings LLC, in leasing a 1,020-square-foot office space at 631 Augusta St., Greenville, to Alloy Wealth Management Inc. Alloy is a wealth management firm serving the Carolinas.