Buyer Rep - Land Sale
Lee & Associates agent Jon-Michael Brock represented the buyer of 10.5 acres of land at 7226 Cross County Road in North Charleston. This is an established warehouse corridor and well-located to the market’s industrial drivers (I-26, Port of Charleston, airport, labor pools etc). Upon closing, Jon-Michael laid out a plan for the buyer: build a spec IOS (industrial outdoor storage) yard, and watch the tenants line up. He knew this product type was quickly becoming a can’t-miss option for investors, especially in a port-driven market like Charleston.
Falling Into Place
Turns out, they didn’t even have time to watch the tenants line up. Jon-Michael received a call from the ContainerPort Group, a logistics and drayage company who was being forced out of their previous yard space.
Jon-Michael immediately connected this prospect with his original buyer client (now the landlord of the IOS yard), and the rest is history. The landlord and tenant proceeded in a Build-To-Suit for the laydown yard, turning the raw land into a graveled, fenced, well-lit container storage facility.
The Outcome
Due to terrific timing, and some savvy broker facilitation, both the landlord and tenant were ecstatic about what transpired. From the landlords perspective: a credit IOS tenant paying a high watermark lease rate for outdoor storage. And for the tenant: a quick and seamless process in securing new space, in which they are fully operational today.
