$31M loan secured to build Publix-anchored shopping center near Charleston

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CBRE has secured a $30.9 million construction loan for The Marketplace at Carnes Crossroads, an 82,622-square-foot Publix-anchored shopping center in Goose Creek.

Richard Henry, Mike Ryan, Brian Linnihan and Taylor Crowder with CBRE Capital Markets’ Debt & Structured Finance division in Atlanta represented the borrower, Columbia Properties, according to a news release. 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,” Henry, senior vice president with CBRE, said in the release. “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 square feet, including nine land parcel sites. The property will feature a modern farmhouse façade with outdoor seating for restaurant tenants and 529 surface parking spaces. Site work has already begun, and vertical construction is expected to start shortly, according to the release.

CBRE Group Inc. is a Fortune 500 and S&P 500 company headquartered in Dallas. The company says it is the world’s largest commercial real estate services and investment firm, based on 2023 revenue. The company has more than 130,000 employees with clients in more than 100 countries.

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