Charleston, S.C. (August 18, 2020) – The Silverman Group has awarded CBRE the leasing of its 520,000-sq.-ft. spec industrial development currently under construction at 300 Trade Zone Boulevard in Summerville, S.C. Located at the Foreign Trade Zone industrial park, site work will begin in September with plans to complete construction in the Spring of 2021.
CBRE’s Bob Barrineau and Brendan Redeyoff are spearheading leasing efforts on behalf of The Silverman Group.
“We’re very excited to extend CBRE’s relationship with The Silverman Group by marketing this premiere facility for lease,” said Mr. Barrineau, senior vice president at CBRE. “This project will provide much needed big box space at a time when Charleston is receiving unprecedented interest as many companies seek to diversify or realign their supply chains. Charleston has incredible momentum with the recently announced three million square foot large retailer’s distribution center and the March 2021 opening of the South Carolina State Ports Authority’s new Hugh Leatherman terminal.”
The cross-dock building will feature 36-ft. clear heights, 76 dock doors, an ESFR sprinkler system, trailer parking for 120 and auto parking for 485 vehicles. The building will be located a half a mile from the new exit 197 Nexton interchange and 2.5 miles from the exit 194 interchange. For more information, visit www.ftzsc.net.
“We are excited to be building this modern, state-of-the-art facility in one of South Carolina’s leading submarkets for industrial space. We believe this building will generate a strong amount of interest in the growing industrial market of Charleston,” said Blake Silverman, President at The Silverman Group.
Per CBRE research, an economic factor driving demand for industrial product in Charleston is the emergence of e-commerce. Charleston also recorded 1.0 million sq. ft. of positive net absorption in Q2 2020, bringing the year’s total to 1.7 million sq. ft. of occupancy growth.
“After our successful development in 2019 we are looking forward to construct this 520,000 sq. ft. building in the Charleston region. Ideally, we are looking for one tenant to occupy the entire building, although dividing the space up for multiple tenants is an option as well,” said Toby Nelson, Vice President, Leasing at The Silverman Group.
“We look forward to working with The Silverman Group again as we target tenants looking for 200,000 – 520,000 sq. ft. in the Charleston market. The Silverman Group’s creativity and flexibility are sure to make this a success,” said Mr. Redeyoff, first vice president at CBRE.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About The Silverman Group
The Silverman Group is a family owned and operated private equity and real estate development organization based in Basking Ridge, New Jersey. The firm owns and manages over 19,000,000 square feet of office, industrial, retail, and aviation properties as well has ownership in 3,000 multi-family units throughout the United States. It has over 2,500,000 square feet of commercial space and 2,000 multi-family units currently under development in three states. For more information, please visit www.silvermangroup.net.