Charleston – April 3, 2023 – CBRE has arranged the sale of two adjacent industrial development sites totaling 26.44 acres at Camp Hall in Charleston. Santee Cooper, the state-owned electric and water utility developing Camp Hall, sold the sites to Pure Development for $7.4 million.
Robert Barrineau, Brendan Redeyoff and Tim Raber of CBRE represented the seller in the transaction. Dan Camp with Santee Cooper and Adam Seger with Pure Development also worked on the deal.
Pure Development will build two speculative industrial buildings on the land located at Camp Hall Commerce Park on Electric Avenue at Campus 1, which is across from Volvo Car USA. Construction is scheduled to start in Q3 2023 and buildings to deliver Q3 2024. Lot 6 will contain a 306,280-sq.-ft. warehouse with 30 dock doors, a 32-ft. clear height, 20 trailer spaces, and 375 auto spaces. Lot 7 will have a 122,180-sq.-ft. warehouse with 13 dock doors, a 32-ft. clear height and 100 auto spaces. Both buildings are less than 2 miles to Interstate 26 and are located between major distribution and a new recycling facility at Camp Hall.
Pure Development has selected CBRE’s Bob Barrineau, Brendan Redeyoff and Tim Raber to lease the projects. The buildings will be sub-divisible down to 40,000 sq. ft., offering space options ranging from 40,000 up to 428,000 sq. ft.
“Camp Hall is one of the region’s most active industrial parks with a well-balanced roster of tenants that include automotive, EV supply chain, technology, logistics and cold storage users,” said Bob Barrineau, a Senior Vice President at CBRE. “These buildings will fill a huge demand as the Charleston industrial market continues to see record demand with historically low vacancy rates.”
“This sale brings more opportunities for economic growth in South Carolina,” said Dan Camp, Senior Director of Real Estate and Camp Hall. “We appreciate CBRE’s efforts in arranging the sale, and we welcome Pure Development to Camp Hall, a people-first, next-generation commerce park.”
“Camp Hall’s economic development success demonstrates the wise investment made by South Carolina, Berkeley County, and Santee Cooper," said Adam Seger, Principal at Pure Development. “The U.S. manufacturing renaissance continues to attract capital expenditure tailwinds to mega-parks with infrastructure in place. Pure Development is excited to support the vision and growth ongoing at Camp Hall.”
Camp Hall industrial park provides convenient access to interstate and rail systems as well as proximity to airports and deep-water ports. The commerce park is located in Berkeley County near the Charleston area’s diverse workforce with a population of over 825,000 people.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2022 revenue). The company has approximately 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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 Santee Cooper
Santee Cooper is South Carolina’s largest power provider, the ultimate source of electricity for
2 million people across the state, and one of America’s Best Midsize Employers as named by Forbes. Through its low-cost, reliable and environmentally responsible electricity and water services, and through innovative partnerships and initiatives that attract and retain industry and jobs, Santee Cooper helps power South Carolina. To learn more, visit www.santeecooper.com and follow #PoweringSC on social media.
About Pure Development
Pure Development is a powerful fusion of institutional commercial development experience and bold entrepreneurial spirit. Since 2010, we have been creating highly personalized, highly designed, highly functional places for an impressive roster of discerning clients. With every project, we explore new ways to encourage connectivity and creativity—to help people live the best possible life, professionally and personally. Learn more at puredevelopment.com.
