Cherry & Associates has represented the owners in the sale of a 28,901 SF office building located at 735 Johnnie Dodds Boulevard in Mount Pleasant, South Carolina, for $7.8 million. C&A originally represented the owners in the purchase of the building in 2014; an entity established by members of the law firm of MGC Law. C&A provided asset management for ownership through the three and a half year hold period, assisting in the oversight of leasing and management by the local firm of Lee & Associates. Prior to the sale, the building was stabilized to 95% occupancy, ultimately demanding a 7.5% cap rate for ownership. C&A wishes to thank long-time client MGC Law and its equity members. C&A also thanks the team at Lee & Associates, in Charleston, for their partnership over the last 3 ½ years, along with their work in securing the sale of the building.
Cherry & Associates represented EnPro-CPI-Grand Prairie in the buyout of its lease at 9802-42 Avenue Building in Grand Prairie, Alberta, Canada. Cherry & Associates thanks Mike Braun for his assistance on behalf of EnPro-CPI in the transaction. C&A thanks Tom Gramblieka for his assistance on behalf of the landlord, Toro Compressor Sales, LTD.
Cherry & Associates represented NuVue 20/20 in the renewal and the subsequent purchase of its office space at Toringdon Medical Plaza II in Ballantyne. Cherry & Associates thanks Dr. David Lupinski and Dr. Amir Khoshnevis for their assistance on behalf of NuVue in the transaction. C&A thanks Reed Griffith for his assistance on behalf of the landlord, Flagship Healthcare Properties.
Cherry & Associates has represented The Remi Group in the lease of its new headquarters location in Charlotte, NC. Remi will occupy +/- 31,000 SF in The Nexus at Waverly, a 154,000 SF Class A building, developed by Childress Klein and being constructed by Shelco. The Nexus is the second office building in Waverly, a mixed-use development located south of I-485, at Providence and Ardrey Kell roads. The Nexus is scheduled for completion in April 2019. Remi will relocate its headquarters from Ballantyne and will be operational in The Nexus by September 2019. C&A wishes to thank Brent Howison and Dan Schuster from Remi for their on-going confidence and support over the past several years.
Cherry & Associates represented Corporate Information Technologies (CIT) in the negotiation of its lease at One University Place. Cherry & Associates thanks Lawrence Cruciana for his assistance on behalf of CIT in the transaction. C&A thanks Jennifer Kurz for her assistance on behalf of the landlord, Trinity Partners.
Cherry & Associates has represented Fairbanks Morse Engine (FME) with the renewal of its lease for its Service Center in Houston, Texas. C&A would like to thank David Santamaria, Krystal Banner, and Bryce Gragg for their assistance with the renewal and renovation of the Houston Service Center. C&A would also like to thank David Boyd and Wes Williams of Boyd Commercial for partnering and co-brokering with us on the renewal.