{"id":1004227758,"date":"2018-05-07T06:25:42","date_gmt":"2018-05-07T14:25:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004227758"},"modified":"2022-12-08T21:46:04","modified_gmt":"2022-12-09T05:46:04","slug":"gramercy-sells-sc-industrial-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/gramercy-sells-sc-industrial-facility\/","title":{"rendered":"Gramercy Sells SC Industrial Facility"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004227773\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Newton-Way-Industrial-Center.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004227773\" data-attachment-id=\"1004227773\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/gramercy-sells-sc-industrial-facility\/newton-way-industrial-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Newton-Way-Industrial-Center.jpg\" data-orig-size=\"400,310\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Newton Way Industrial Center\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Newton Way Industrial Center, Summerville, S.C. &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Newton-Way-Industrial-Center.jpg?w=400\" class=\"wp-image-1004227773 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Newton-Way-Industrial-Center.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Newton-Way-Industrial-Center.jpg 400w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Newton-Way-Industrial-Center.jpg?resize=300,233 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004227773\" class=\"wp-caption-text\">Newton Way Industrial Center, Summerville, S.C.<\/p><\/div>\n<p>Gramercy Property Trust has sold Newton Way Industrial Center, a <a href=\"https:\/\/www.commercialsearch.com\/news\/gramercy-lands-331m-industrial-portfolio\/\">Class A distribution and manufacturing facility<\/a> in Summerville, S.C. HFF represented the seller in the transaction. Vacant at the time of sale, the 451,370-square-foot property was purchased by a user for occupancy.<\/p>\n<p>Located at 1116 Newton Way, along Interstate 26, the asset offers convenient access to Interstate 95, the Port of Charleston and Charleston International Airport. Constructed in 2007, Newton Way Industrial Center sits on 43 acres and offers 30-foot clear heights, 37 dock-high loading doors, parking and storing for up to 100 trailers, 17,900 square feet of office space, 22 drive-in doors and 513 vehicle parking spaces. The building also has Foreign Trade Zone status, providing the opportunity to facilitate international mercantile activity.<\/p>\n<p>Senior Managing Director Chris Norvell and Director Patrick Nally of HFF&#8217;s investment advisory team represented the seller. CBRE&#8217;s Bob Barrineau and Brendan Redeyoff represented the buyer.<\/p>\n<p><em>\u201cOur initial plan for this transaction was to market the building as a vacant, Class-A, value-add industrial opportunity,\u201d<\/em>\u00a0Norvell told <em>Commercial Property Executive<\/em>. <em>\u201cBut the industrial market in Charleston is really hot, particularly for manufacturing, so it\u2019s not surprising that a manufacturer showed up to purchase the property before we went to market.\u201d<\/em><\/p>\n<p><em>Image courtesy of HFF\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Newton Way Industrial Center in Summerville comprises 451,370 square feet and was purchased by a user for occupancy. HFF facilitated the sale on behalf of the seller. <\/p>\n","protected":false},"author":746,"featured_media":1004227773,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,21742],"tags":[32789,33015,33227,32792],"class_list":["post-1004227758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-latest","tag-cbre","tag-chris-norvell","tag-gramercy-property-trust","tag-hff"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gramercy Sells SC Industrial Facility - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/gramercy-sells-sc-industrial-facility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gramercy Sells SC Industrial Facility\" \/>\n<meta property=\"og:description\" content=\"Newton Way Industrial Center in Summerville comprises 451,370 square feet and was purchased by a user for occupancy. 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