COFE Properties Acquires Two-Building Industrial Portfolio In North Charleston For $48.3M With $29M Loan

The transaction involves the acquisition of a two-building industrial portfolio located at 4275 Arco Lane, 4750 Goer Drive, and 4760 Goer Drive in North Charleston, SC. The properties total 307,492 square feet and were acquired for $48.3 million, financed through a fixed-rate, interest-only loan of $29 million from Nuveen Real Estate. The assets are fully leased to tenants including Carrier Enterprises and the College of Charleston.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $48,300,000
• Loan Amount: $29,000,000
• Loan Type: Acquisition
• Lender: Nuveen
• Landlord: COFE Properties
• Brokers: Brian Linnihan, Joao Cordeiro, Mike Ryan & Richard Henry - CBRE

CBRE facilitated the acquisition financing for COFE Properties' purchase through their brokerage services. The collaboration involved multi-faceted negotiation efforts, allowing COFE Properties to secure crucial funding for the competitive acquisition within the industrial market segment of North Charleston.