NJ firm buys North Charleston business park for $48M

Accordia, a New Jersey real estate firm, purchased its first commercial location in South Carolina with the assistance of CBRE real estate firm for $48 million, according to a news release.  

Remount I and II, located at 1101 and 1141 Remount Road in North Charleston, is a 305,114-square-foot master-planned office and industrial park, the release said. 

Patrick Gildea, Matt Smith, Robert Hardaway, Charlie Carmody, Chip Shealy and Will Yowell from CBRE, along with Jay O’Meara, Justin Parsonnet and Ryan Reethof from Newmark, represented the sellers, Accesso/Partners Group, according to the release. 

“The combination of strong fundamentals and supply constraints is driving rental rates upward across the board,” Matt Smith, first vice president of CBRE, said in the release.  

The Remount Business Park is two single-story dual-flex buildings on about 26 acres and is currently 90% leased, according to the release.  

The buildings offer steel-frame and concrete tilt-up wall construction, 18-foot heights, six dock slips, 13 drive-in doors and 240-foot truck courts, the release said. They also have flexible floor plates for a range of operations and industrial tenant needs such as defense organizations. 

“Strong fundamentals are driven by the flexibility of the product, which attracts a wide variety of occupiers,” Frank Recine, principal and head of leasing for Accordia Real Estate, said in the release. “Remount Business Park, offering fully climate-controlled warehouse, office and other specialty uses, is ideally located for tenants serving NIWC, the North Charleston Port, and traditional industrial and office needs.”