Shipyard Creek Associates, LLC purchased Macalloy from Ashley II of Charleston, LLC in March of 2007. The development team is comprised of Stanley B. Ashley Jr. of Bullock Mannelly Partners, Richard Lee of Branch Capital Partners, LP of Atlanta and Robert Clement of CC&T Real Estate Services. Funding is provided by Lubert-Adler of Philadelphia.
Shipyard Creek Associates, LLC purchased the 114 acre site for $33 million with plans to pursue a maritime related use for the property.
CC&T has also performed brokerage and property management roles for the project. Robert Clement served as principal in Ashley II of Charleston, the previous owner of the property and local developer. Stuart Coleman, of CC&T, is handling the management of the project.
Macalloy is located in the industrial “Neck” area of North Charleston, SC on Shipyard Creek and is directly across from the State Ports Authority’s new terminal. This prime location makes it an ideal spot for a variety of port-related activities. With 110 acres of high ground zoned heavy industrial on deep water, Macalloy has direct access to the Charleston Harbor and to international shipping lanes.
The development will house port-related industrial users that can take advantage of the property’s close proximity to the port location, as well as its deep water access.
This property is an NPL site that underwent an 18 month remediation to remove hexavalent chromium contamination from its previous use.
For more information about this project, please contact Stuart Coleman