Charleston, South Carolina (PRWEB) March 06, 2015
Amstar, a Denver-based real estate investment manager, announced today the ground breaking on a 16.7-acre development site in Charleston. Amstar and its development partner, Childress Klein (“CK”), began construction in January on a 278,720 square-foot state-of-the-art industrial facility and expect to deliver by the end of July. The Property will feature a 300’ deep front-loading configuration, 30’ clear height, 172’ truck court with ample trailer parking, ESFR sprinkler system and T-5 lighting.
The property is located in the Charleston Regional Business Center (“CRBC”) in the Clements Ferry submarket of Charleston, a distribution corridor with close proximity to the Wando Welch Terminal, the largest terminal by container volume in the Port of Charleston. CRBC is also located 12 miles from the Charleston International Airport and the Boeing 787 Dreamliner Final Assembly Campus making this a key location for aviation and aerospace suppliers, manufacturers and logistics operations. The investment fits within Amstar’s industrial development strategy, which is focused on providing superior risk-adjusted returns by partnering with high-quality local development firms to develop Class A industrial assets in strong U.S. industrial markets.
"Amstar is excited to be a part of such a promising and well-located development. Childress Klein is a long-standing partner of Amstar and we look forward to another successful outcome," said Amstar Managing Director Tricia Noble.
“Childress Klein is excited for the opportunity to take advantage of the current low inventory environment of available Class “A” industrial space as well as to capitalize on the increased port activity in Charleston,” said Childress Klein Partner Matt Harper.
Michael White of Charleston Industrial, LLC will be representing the landlord for all leasing activity.
Established in 1987 and headquartered in Denver, Colorado, Amstar is a real estate private equity company that acquires, develops and manages all major property types in the United States and in select international markets. In the United States, Amstar focuses on investing in high-quality and well-located office, multifamily, industrial, retail and hotel properties with value-add risk profiles through a rotational investment strategy; it targets underperforming property sectors early in their fundamental recoveries, stabilizes those properties through active asset management, and sells when there is an abundance of capital seeking to enter that sector. Currently, Amstar and its clients utilize perpetual separate account structures which grant the flexibility needed to optimize risk-adjusted returns through multiple market cycles. Amstar is a privately-owned company with over 80 professionals, and is based on a culture of trust, integrity, and respect. For more information, visit http://www.amstar.com.
About Childress Klein
Childress Klein is a full service real estate company operating in the southeastern United States since 1978. The partners of Childress Klein have been responsible for the development, leasing and management of more than 40 million square feet of office, industrial, retail, multifamily and self-storage properties throughout Virginia, Tennessee, North and South Carolina, Georgia and Florida. The Company's primary offices are located in Charlotte and Atlanta.
As one of the largest real estate firms in the Southeast, Childress Klein is experienced in the development, management and leasing of a wide variety of product types. The Company’s office developments include suburban office parks, 1+ million sq ft high-rise office towers and corporate campuses. Industrial experience ranges from small flex buildings to multi-million sq ft distribution parks. Retail properties include community centers, large- scale lifestyle centers and mixed-use developments. Childress Klein serves residential markets with products including luxury garden and high-rise apartments as well as multi-level self-storage facilities.
With a team of nearly 300 professionals, a portfolio exceeding 23 million square feet and real estate assets valued in excess of $1 billion, Childress Klein has the expertise and resources to undertake any project. For more information, please visit http://www.childressklein.com.