Ground broken on Midway Logistics V

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Midway Logistics V, a new 180,000-square-foot Class A speculative building in the Lexington County Industrial Park, will be fully occupied by Kardex Remstar, a supplier of automated storage and retrieval solutions based in Switzerland.

Ground has been broken on the building, and occupancy is expected by the second quarter of 2020, according to a news release.

The Class A tilt-up building is designed with state-of-the-art features such as 50-foot bay spacing, energy-efficient LED motion detection lighting and advanced mechanical systems. Midway Logistics V will also include eight dock doors and a private 130-foot truck court for receiving and shipping.

This is the fifth Midway Logistics building within the park developed by Magnus Development Partners.

“We are excited to be working with Kardex Remstar on this very important project,” Kevin Werner, a Magnus Development partner, said in the release. “They will be a great addition to the 350-acre master-planned industrial park, which includes existing companies such as Dominos, Home Depot, Republic National Distributing Co., Laguna Tools and Husqvarna.”

Charlotte-based investment trust acquires Northeast medical building

Charlotte-based Flagship Healthcare Trust, a private health care real estate investment trust managed by Flagship Healthcare Properties, has acquired a 57,375-square-foot medical office building in Northeast Columbia.

Prisma Health is the anchor tenant of the building, located at 101 Business Park Blvd. off Interstate 77 and Farrow Road. Prisma Health’s orthopedic center occupies the building’s second floor. The building, located less than a mile from 74-bed hospital Providence Health Northeast, also features physical rehabilitation services and a walk-in urgent care clinic.

“We are very pleased to acquire this high-quality, Prisma Health-anchored medical office building here in our backyard,” Gerald Quattlebaum, Flagship senior vice president of acquisitions, said in a news release. “This acquisition represents a tremendous value, well below replacement cost, in a market that we desire to have a bigger presence in.”

Flagship will provide property and asset management services as well as oversee accounting and lease administration for the building.

Trinity Partners’ Roger Winn represented the seller in the transaction, with First National Bank providing financing, according to the release from Flagship Healthcare Properties. The cost of the transaction was not provided.