Colliers International announced its 2013 Transaction of the Year at its Annual Awards Celebration – the redevelopment, marketing and sale of the 40+ acre, $17.2 million Bridgeside at Patriots’ Point in Mount Pleasant, South Carolina. Criteria for selection included the challenges and complexity of the transaction(s), the collaboration and depth of the team required to accomplish the transaction, the impact on the community and the economic development implications.
In lieu of marketing the Bridgeside site as a large single tract, the Colliers team from Charleston and Columbia, which included Seth Clark, Peter Fennelly, Neel Keenan, Danny Pellegrino, John Orr and Scott Rogers, convinced the owner to create a mixed use development plan which required a complicated rezoning by the Town of Mount Pleasant. The diverse specialties and contributions of each member of the team resulted in a Town official stating “this is the best example of good development in Mount Pleasant and (the project) is a great example of an owner and its agents engaging the Town in the right way.” This South Carolina team also engaged Colliers professionals from around the country for additional specific expertise associated with the marketing of this unique but complicated site.
The end result was the consummation of five separate transactions for five differing uses with nearly 20% of the site being reserved for greenspace, walking trails and a waterfront park. New permanent jobs will be created through the development of a hotel on the site as well as considerable employment in the construction industry associated with the five projects.
ABOUT COLLIERS INTERNATIONAL
Colliers International is a global leader in commercial real estate services, with over 13,500 professionals operating out of more than 482 offices in 62 countries. A subsidiary of FirstService Corporation, Colliers International delivers a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and insightful research. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate firm in the world.
Colliers International South Carolina has 139 staff, including 57 real estate professionals. Total brokerage volume for the firm in 2013 included nearly $350 million in sales and leasing transactions. Colliers International is the largest third party manager of commercial real estate in South Carolina with a portfolio of 8.9 million square feet of office, industrial, retail and healthcare properties. Colliers International staff hold 40 professional designations, the most of any firm in South Carolina.