Pure Development has acquired a 26.44 acre parcel for $7.4 million from local water and power provider Santee Cooper, the developer of the industrial site known as Camp Hall in Charleston, SC. The company plans to construct two speculative industrial buildings on two lots at the business park – Lot 6 will contain a 306,000 square foot warehouse while Lot 7 will be comprised of 122,000 square feet of warehouse space. Both buildings can be sub-divided down to 40,000 square feet or up to 428,000 square feet in total size capacity.
Robert Barrineau Brendan Reyeyoff and Tim Raber from CBRE represented the seller during this transaction and are now responsible for handling leasing operations for this project as well; Barrineau noted that “these buildings will fill a huge demand as Charleston’s industrial market continues to experience record demand with historically low vacancy rates” Construction is scheduled start in Q3 2023 with expected delivery by Q3 2024
