Bobby Miller, CCIM, and Chris Butler, Associate Broker, represented the seller of a multi-function 15,000 SF warehouse along I85 in Piedmont. The buyer, Kelley Engineering, was self represented.
Bobby Miller, CCIM, and Chris Butler, Associate Broker, represented the seller of a multi-function 15,000 SF warehouse along I85 in Piedmont. The buyer, Kelley Engineering, was self represented.
Martin’s Run, a 10-acre development located on Harrison Bridge Road, is a mixed use development. Appropriately named in remembrance of long-time Greenville County Sheriff Bob Martin, the development occupies the old Martin Family farm property. The development was strategically designed with the storm pond located on the rear portion of the site to accommodate storm drainage for the entire development. As with most developments, this site has had its challenges. The site is located within the city of Simpsonville’s jurisdiction; so, approval at every stage of the development required dual approval with Greenville County.
The first outparcel was sold to Simpsonville Express Car Wash. This 1.3-acre site was designed around an existing transmission power line, where by the vacuums and parking were position underneath the powerlines maximizing the useable land. The car wash opened in June of 2018. Now under construction and taking advantage of the growing number of nearby homes: Clemson Eye, Foundation Early Center (daycare), and Smiling Places (pediatric dental office) — All expected to open for business prior to 2020.
From the initial site design phase through construction of the first user, an approximate two-year span, Bobby Miller and KDS Commercial Properties provided constant project oversight, team leadership and site development oversight for the land owners. “It’s so enjoyable at this stage of development,” says Bobby, “as working through and toward a successful retail development strategy for the client made it all worth while.”
George Wike, land owner of Martin’s Run, says “Bobby’s oversight, knowledge, and expertise have been invaluable in this process.”
Not long after the great recession (mid 2012), on a once-foreclosed retail development site, a local bank received a referral that Bobby Miller of KDS Commercial Properties would be a good fit to facilitate a new perspective into a partially-developed site. The 9.5-acre site required new civil design ideas to incorporate site grading that had been approved and completed on the ground; mainly ingress and egress and a storm pond that stretched across the front of the site. Planet Fitness was the first user to the site, and the new design utilized the existing development features without compromising lost acreage. Once the rear was developed with Planet Fitness, an indoor climate-controlled user, Bee Safe, and Parkside Pediatrics secured the remaining parcels.
“KDS and Bobby Miller helped us navigate the development and engineering aspects during the due diligence process to successfully consummate the outparcel sales — and we couldn’t be more pleased,” said Rodger Anthony, CEO, Cornerstone National Bank.
As the data shows, this retail submarket is quite healthy. Rents are trending upward and the majority of new construction is “build-to-suit” for users. Equally so, office/service providers have self built their new locations during the past several years.
“We are bullish on this submarket, especially as the number of new homes continues to make this area one of the fastest growing in Greenville County,” says Bobby Miller, CCIM.
Retail |
Office |
|
|---|---|---|
| SF | 2.8M | 809K |
| Buildings | 252 | 107 |
| Available SF | 102K | 14.7K |
| Under Construction | 0 | 11K |
| Current Market Vacancy | 3% | 1% |
| Average Market Rents/SF | $15.55 | $17.15 |
Many years ago, Piedmont was home to one of the world’s largest textile mills–Piedmont Manufacturing Company–and a thriving textile town. Four active textile mills were situated on the Anderson County and Greenville County sides of the Saluda River. In 1902, a major fire destroyed the entire downtown area of Piedmont including the mill stores and many other businesses. The Mercantile Building was constructed by the mill in 1905 to replace its stores and to provide space for other local businesses. The building has been mostly vacant for over 30 years. 
For years, Larry Webb, a resident of Piedmont and principal at KDS, has looked at this old gem (the old mill store, photo at left) sitting on the hill and thought, “We need to do something with this big beautiful building?” After the decline in textile production and the fire in 1983, only the two smoke stacks remain of the manufacturing company; but, the old mill store remains. “When the mill burned and was torn down, everyone kind of fled the Piedmont downtown area, and it has been that way ever since.”
After months of passing the old mill store after she was placed on the market, he did extensive market research with local business and civic leaders solidifying his decision to purchase the property. “The mercantile building has historically been the center of retail and community activity for Piedmont’s riverfront village. It is still considered as the heart of the village and the Piedmont community needs it to be brought back to life. Market research confirmed that there is a demand in the area for new restaurants, retail outlets, medical offices and art venues . . . This building will be a perfect home for those uses!”
Larry and his investors plan to make a significant financial investment in the current restoration of the 25,000 SF building. Historic tax credits and abandoned building tax credits will help offset some of the cost of the restoration and make lease rates market affordable. The entire ground-floor retail spaces have been pre-leased and current tenant commitments have been executed with a Coffee Shop, a Taphouse, a Dentist, a Café & Caterer, and a five-artist Arts Gallery & Studios. The upper floor of the building will be converted to eight rental apartments.
Paul Porter | Piedmont Resident | Photographer
“What a beautiful view of the waterfall and the old footbridge” says Larry as he looks out over the Saluda River and surroundings from large, floor-to-ceiling windows in the building. The dam and falls from the original mill sits just hundreds of feet from the building. The dam and falls is one of the oldest in the state and still generates power for the local area. The old footbridge, constructed circa 1888, originally connected both Piedmont Manufacturing Mercantile Mill Plants on either side of the river and was used by mill employees to walk back and forth over the dam to get to the mills. The entire waterfront area of Piedmont is in early stages of re-development and revitalization in a joint effort between Greenville County, Anderson County and the local Piedmont Historical Preservation Commission. The footbridge is currently undergoing structural engineering studies with hopes of stabilizing and revitalizing it as the central focal point of the riverfront redevelopment. The planned revitalization also includes the construction of kayak docks with access and launching sites above and below the dam and falls allowing kayakers to float down river to Piedmont from points north and continue on down river into Anderson and beyond. Along with the installation of the docks, plans call for public improvements such as sidewalks, gathering areas and greenspace along the river.
Larry’s restoration efforts, coupled with those of both counties and the Historic Preservation Commission, will go a long way in sparking the revitalization of Piedmont and the village of Piedmont returning to a destination location as it was in the past.
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Mark Ratchford, principal with KDS Commercial Properties represented the seller in the disposition of a 50,000SF commercial building on 5.88 acres. The property is located at 8150 Warren H. Abernathy Hwy in Spartanburg, SC, and sold for $4.5M. The buyer was represented by Shannon Donahoo with Blackstream International. The property was purchased, redeveloped and leased to VA College in 2011 and then sold to out-of-market investors. With the recent bankruptcy of the parent company for VA College, the ownership put the property on the market for sale. The new owner will use the property for continued educational use as a Green Charter School.
Green Charter, currently operating three other Charter Schools in South Carolina, was the first charter school in the state to replicate its model (Irmo, SC, 2007) and recently earned approval from the SC Public Charter School District to replicate its again at this and the future Charleston location (2020). Green Charter Schools teach students to weigh the pros and cons of both “renewable and nonrenewable energy” and use a curriculum written by the National Energy Education Development Project, whose sponsors and partners include major petroleum and utility companies like BP America, Citgo, Dominion Energy and Duke Energy. The school plans minor renovations and to open Green Charter Schools-Spartanburg in the fall of 2019. Read more at scgreencharter.org
Green Charter Schools buys Virginia College building
Green Charter School to Launch in former Virginia College building
Green Charter School to Build New Campus in Spartanburg
Gallery (click to enlarge)
Mark Masaschi, CCIM, principal at KDS Commercial Properties, recently represented Southport Road, LLC, in the leasing of 97,000 SF of newly-refurbished industrial space within the 8-acre Southport Industrial Park in Spartanburg, South Carolina. Read more.
