CBRE Secures Construction Loan for Publix-Anchored Shopping Center Near Charleston, South Carolina

CBRE has secured a $30.9 million construction loan for The Marketplace at Carnes Crossroads, an 82,622-square-foot Publix-anchored shopping center. It is located in Goose Creek, South Carolina, just 15 miles from Charleston’s urban core.

Richard Henry, Mike Ryan, Brian Linnihan, and Taylor Crowder with CBRE Capital Markets’ Debt & Structured Finance in Atlanta represented the borrower, Columbia Properties. The $30.9 million loan was secured through a regional bank.

“Columbia Properties is a top-tier developer, and we are extremely proud to have represented them in this transaction,” said Mr. Henry, Senior Vice President with CBRE. “The growth in Goose Creek has been incredible as evidenced by strong demand and significant pre-leasing. We look forward to watching this project become a huge success for Columbia and their partner Worthen Development.”

Situated on 24.5 acres at the corner of U.S. Highway 17 and U.S. Highway 176, the shopping center will consist of three buildings totaling 82,622 sq. ft., including nine land parcel sites. The property will feature an attractive modern farmhouse façade with ample outdoor seating for restaurant tenants and 529 surface parking spaces. Site work has already begun, and vertical construction is expected to start shortly.