CCP Commercial Real Estate Acquires Foxbank Industrial Park in Charleston, South Carolina
02/27/2018
"We are very pleased with our continued expansion into new markets located throughout the Southeastern U.S. Foxbank Industrial Park is located in one of Charleston's best performing submarkets, the Highway 52 Corridor. The property is 100% leased to two tenants and is comprised of 32 acres of land lending itself to potential future development, “said Jeremy R. McLendon, President of CCP Commercial Real Estate.
“The Charleston industrial market has experienced 19.75% year over year rent growth, creating the opportunity for attractive Net Operating Income (NOI) growth. We were able to purchase the property at an attractive discount to replacement cost," he added.
CCP Commercial Real Estate, a real estate investment company based in Virginia Beach, Virginia, owns and operates over three million square feet of commercial property. “Our focus is on providing our investment clients with superior risk adjusted returns on institutional quality office and industrial properties located in our target markets throughout the Mid-Atlantic and Southeastern United States,” the company said.
“We take a very hands on approach with each asset we acquire. We focus on operations, rent growth, lease-up, expense controls and with a strong emphasis on in-place cash flows,” the company said.
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