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LRC Properties buys South Carolina business park for $42M


LRC Properties in Rye Brook paid $42 million for an approximately 1.1 million-square-foot industrial complex in North Charleston, South Carolina in an off-market deal. Leeds Park The 8-year-old real estate investment firm in a press release said it plans ...


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LRC Properties in Rye Brook paid $42 million for an approximately 1.1 million-square-foot industrial complex in North Charleston, South Carolina in an off-market deal. Leeds Park The 8-year-old real estate investment firm in a press release said it plans to invest about $15 million in infrastructure and aesthetic improvements to Leeds Park, a mixed-use complex of office, manufacturing and flex space on an approximately 72-acre siteThe business park is about 75 percent occupied. LRC Properties principal and co-founder Howard Lavitt said the company plans to renovate approximately 40,000 to 50,000 square feet of office space to Class A building standards and 150,000 square feet of industrial space for Leeds Park tenantsWork is expected to begin in 2018. Amherst Capital Management in New York provided debt financing for the purchase and future renovations. With the Leeds Park deal, LRC Properties owns approximately 7.5 million square feet of commercial properties on the East Coast, with nearly $600 million of assets under management, most in the SoutheastLavitt said LRC seeks additional investment opportunities in Charleston and the Southeast from its office in Charlotte. var bannersnack_embed = {"hash":"bx907fsau","width":728,"height":90,"t":1488029628,"userId":27676241,"responsive":true,"type":"html5"}; TAGSHoward LavittLRCLRC Properties Previous articleGoldens Bridge Mercedes dealer countersues repair shop for defamationNext articleHastings residents vote to preserve water tower on ARCO property John GoldenAs managing editor of the Business Journals, John Golden directs news coverage of Westchester and Fairfield counties and the Hudson Valley regionHe was an award-winning upstate columnist and feature writer before joining the Business Journal in 2007He is the author of “Northern Drift: Sketches on the New York Frontier,” a collection of his regional journalism. var block_td_uid_4_5a28c1d9e3c08 = new tdBlock(); block_td_uid_4_5a28c1d9e3c08.id = "td_uid_4_5a28c1d9e3c08"; block_td_uid_4_5a28c1d9e3c08.atts = '{"limit":3,"sort":"","post_ids":"","tag_slug":"","autors_id":"","installed_post_types":"","category_id":"","category_ids":"","custom_title":"","custom_url":"","show_child_cat":"","sub_cat_ajax":"","ajax_pagination":"next_prev","header_color":"","header_text_color":"","ajax_pagination_infinite_stop":"","td_column_number":3,"td_ajax_preloading":"","td_ajax_filter_type":"td_custom_related","td_ajax_filter_ids":"","td_filter_default_txt":"All","color_preset":"","border_top":"","class":"td_uid_4_5a28c1d9e3c08_rand","el_class":"","offset":"","css":"","tdc_css":"","tdc_css_class":"td_uid_4_5a28c1d9e3c08_rand","live_filter":"cur_post_same_categories","live_filter_cur_post_id":96759,"live_filter_cur_post_author":"7"}'; block_td_uid_4_5a28c1d9e3c08.td_column_number = "3"; block_td_uid_4_5a28c1d9e3c08.block_type = "td_block_related_posts"; block_td_uid_4_5a28c1d9e3c08.post_count = "3"; block_td_uid_4_5a28c1d9e3c08.found_posts = "14263"; block_td_uid_4_5a28c1d9e3c08.header_color = ""; block_td_uid_4_5a28c1d9e3c08.ajax_pagination_infinite_stop = ""; block_td_uid_4_5a28c1d9e3c08.max_num_pages = "4755"; tdBlocksArray.push(block_td_uid_4_5a28c1d9e3c08); RELATED ARTICLESMORE FROM AUTHOR Banking & Finance Credit agencies give Westchester County high scores Economic Development Resorts World to hold job fairs for 1,400 positions at Sullivan County casino Food & Beverage Chipotle to open second White Plains location LEAVE A REPLY Cancel reply Please enter your comment! 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December 6, 2017 Chipotle to open second White Plains location December 6, 2017 ArtsWestchester opens ‘On The Horizon’ exhibit at Memorial Sloan Kettering December 6, 2017 Stamford apartment building, The Wescott, sold for $67M December 6, 2017

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