Obelisk Real Estate Partners has bought three industrial buildings in Hanahan with the help of an $86.2 million loan from Barings, the lender said Aug. 10.
The portfolio totals about 817,000 square feet and was 62% leased, according to Barings. The lender said the buildings offer a near-term opportunity to add value through capital improvements and new leases.
The seller was CenterPoint Properties, based in Oak Brook, Illinois, according to CBRE and REBusinessOnline. The deal included North Rhett Center, a two-building, roughly 516,000-square-foot property at 5801 N. Rhett Ave., and a 305,250-square-foot building at 1020 North Pointe Industrial Blvd., CBRE said.
The companies did not disclose the price. A CHS Business Report review of Berkeley County property records shows both parcels changed hands Aug. 5, with recorded prices of $55.9 million for the 34-acre North Rhett property and $49.9 million for the 24-acre North Pointe property, a combined $105.8 million. The new owners of record are limited liability companies named for the two addresses.
CBRE is marketing about 318,926 square feet at North Rhett Center, with space available from about 50,000 square feet up to the full amount, the brokerage said. The property has CSX rail service and up to 3.25 acres of laydown yard.
“With a logistics and port-oriented location, the portfolio aligns well with our focus on high-quality industrial real estate in markets with durable demand drivers,” said Ryan Naumes, a managing director with Barings.
“Charleston’s industrial sector continues to show strong momentum, making it a focus market for Obelisk,” said Jake Meskin, an acquisitions associate with the firm.
Obelisk, which REBusinessOnline reported is based in New York City, was founded in 2024 and has bought more than $200 million of assets in five transactions, according to Barings. It manages about 1.5 million square feet in South Carolina, North Carolina and Georgia. JLL advised Obelisk on the financing.
