Why KDS?

Project Overview

KDS represented Main Street Holdings in the pre-leasing and development of 35 South Main Street in Greenville, SC. What was previously S. H. Kress & Co., this property remained vacant from the mid-2000’s on. One of the very first new construction projects to come out of the ground since the recession, Main at McBee was a huge success for the client, as well as the city and its residents. And with an absence of drug stores located in the CBD until its opening in late 2011, it was a highly sought after use and the KDS team was able to deliver on all fronts.

Development services included demolition, site planning, DRB consultation, construction management, and lender acquisition. Landlord representation services included securing CVS as the anchor tenant, as well as securing long-term leases with Fifth Third Bank and Bon Secours St. Francis Express Care. The design, construction, and most importantly, the leases in place, created a premier investment grade asset, which is exactly what the client requested for a long-term hold. Main at McBee is now one of several downtown Greenville redevelopment examples of recent past.

Project Overview

KDS represented Apex Allergy Group in the negotiation of a long-term lease that included the repurpose and renovation of a former restaurant building that was converted to a Class A medical facility.

KDS facilitated the lease negotiation and the redevelopment efforts while Caldwell Constructors served as the general contractor. The result was a big win for the client, whereby a substantial leasehold equity position was created along with a state-of-the-art medical facility for the doctor and his patients.

Project Overview

KDS represented Rich and George Hincapie with Hincapie Sportswear, in the acquisition and redevelopment of Hotel Domestique.

Prior to the acquisition, the property was known as the La Bastide Hotel, a bed and breakfast situated on 30 acres of scenic land at the foothills of the Blue Ridge mountains. The property fell victim of the economic downturn of 2009 and sat vacant until the Hincapies acquired it in 2012, redeveloping it into a European-inspired, resort style hotel that caters to the active lifestyle of those that enjoy cycling, hiking and various other outdoor activities. With its breathtaking views of the mountains as a backdrop, it has quickly become a popular destination for weddings, corporate retreats, athletic training and more.

Buyer representation services included all pre-acquisition research and due diligence, development, and presentation of purchase agreement handling all purchase negotiations on behalf of the buyer. Redevelopment services included financial analysis and budget preparation assistance, while facilitating in contractor and design team selection – and project consultation prior to construction.

Project Overview

KDS represented a local family partnership looking for an investment property for the down leg of a 1031tax-free exchange and successfully negotiated the sale of an off-market, Class A multi-tenant office building located in downtown Greenville’s, West End

Several of the leases were short-term and below market, however after the sale was completed, KDS successfully renegotiated several of the existing leases and released a vacant suite at market rates. By acquiring the property below market value and successfully renegotiating, KDS was able to create substantial equity for the new owners who now have a fully-leased Class A building in a highly desirable area.

Project Overview

KDS represented Nicole Johnson with Boyd Cycling in the acquisition and re-development of a vacant warehouse property located at 115 Welborn Street in Greenville, SC. The property will house the company’s offices, manufacturing and distribution functions. The warehouse was constructed in the 1940’s and was originally used as a cotton storage facility. It had fallen into disrepair in the past decade and was used sparingly as a general storage facility until the Johnsons acquired it in 2015. The property is located on the Reedy River in the heart of Greenville in an area planned for a major City park. Its location, size and character made the property a perfect option for Boyd Cycling and it has since been completely re-developed into their corporate headquarters.

Buyer representation services included all pre-acquisition research and due diligence, presentation of purchase agreement and handling all purchase negotiations on behalf of Buyer. KDS also provided all re-development services to include financial analysis and budget preparation assistance, contractor and design team selection and project management.

Project Overview

KDS represented Augusta Street Partners in the successful negotiation of the purchase of this iconic off-market property in the West End of downtown Greenville, SC. The historic West End Market was a former cotton warehouse that was converted into an urban market in the late 1990’s by the City of Greenville and then subsequently sold to a local investor. By 2016, the property was in dire need of capital improvements and general maintenance to return it to the condition that was envisioned upon its original conversion.

KDS worked through the myriad of inconsistent leases and assisted the investment client in understanding the economic performance of the asset, as well as the future upside potential. As the property continues to undergo major renovations and expansion, the potential rent growth will create substantial equity for this partnership and property.

Project Overview

Project Overview

KDS represented the seller, Cornerstone National Bank, in the marketing of the vacant land for development and handled the negotiations for a complex due diligence period.

Because of the unique approvals required during the entitlement process, KDS renegotiated the due diligence first, for the unexpected wetland calls and then a second time, because of delays in sewer easement acquisitions. Rosewood Communities then purchased the 14-acre tract allowing for a community of 26 homes and the sale was negotiated and completed at full asking price.

Project Overview

KDS represented South Main Partners in the negotiation of a 99-year master lease on this historic property. The building had been underutilized for the past 25 years, and the owner was unwilling to sell or to perform necessary capital improvements to bring the building back to code for occupancy.

KDS brought a creative solution in the form of a long-term master lease (which is unusual for the Upstate real estate market, as these types of transactions typically occur in dense urban markets like NYC and Miami). The result proved favorable not just for South Main Partners, but for the City of Greenville and the landlord. Their long-term control of the property will now allow them to redevelop and create substantial returns on their leasehold rights.