Northeast apartment community sold to Boston real estate firm

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Arcadia’s Edge, a 204-unit apartment community on North Trenholm Road, has been sold to Boston-based real estate investment firm West Shore LLC.

Cushman & Wakefield’s Jordan McCarley, Tai Cohen and Marc Robinson represented the seller, Estates & Companies, in the transaction.

Arcadia’s Edge, one of two properties in a three-mile radius completed post-2010, was named a silver award recipient for new developments by online real estate publication Multi-Housing News in 2012, according to a news release from Cushman & Wakefield. The apartment complex, which features a natural irrigation system, low-flow water fixtures and sustainable landscaping, was also certified by the National Association of Home Builders as meeting the National Green Building Standard.

“As an award-winning and green-certified community in Columbia, Arcadia's Edge offered a Class A asset with market leading finishes in an ideally located northeast submarket surrounded by employment and retail, primed for organic growth,” McCarley said.

Arcadia’s Edge features amenities including a community garden, stocked pond and saltwater swimming pool.

The acquisition is West Shore’s 25th nationwide and fifth in the Carolinas.

“Arcadia’s Edge is a unique Class A property that offers residents the best of everything: ideal location, robust economy, solid job market and luxury living,” West Shore chairman Steven P. Rosenthal said in a news release from that company.  “This deal is demonstrative of our success and growth over the last three years as we continue to identify and acquire high-quality, off-market properties like Arcadia’s Edge in high-growth areas like Columbia.”

West Shore owns and manages Reserve at Mill Landing in Lexington and Riverwalk in Rock Hill as well as Ansley Falls and Aurea Station in Charlotte.

In other area transactions:

• Colliers’ Chuck Salley represented Crown Point Properties Inc. in the lease of 64,039 square feet of industrial space at 150 Queen Parkway in West Columbia to Federal Express Corp.
• Salley, Dave Mathews, Thomas Beard and John Peebles of Colliers represented KWS Investments LLC in the lease of 8,000 square feet of industrial space at 2500 Leaphart Road in West Columbia to D & L Parts Co., Inc. The Colliers agents also represented Reger Holdings LLC in the lease of 24,500 square feet of industrial space at 3430 Platt Springs Road in West Columbia to University of South Carolina’s Thomas Cooper Library.
• Chicago-based Novel Coworking, which has dozens of locations throughout the country, is opening its first location in South Carolina in downtown Columbia. The company has acquired a 12-story, 159-013-square-foot office building at 1122 Lady St., with plans to renovate it into modern, affordable workspace. Novel features technology-enhanced private suites which feature office space, open space, and kitchen and conference room facilities with Alexa-enabled sound systems and biometric keypad entry. Pre-leasing is underway for private offices, according to a news release, with private offices starting a $475 a month. Monthly coworking memberships are available for $129 a month.
• Colliers’ Tommy Johnson and Hunter Suggs represented Rockford Columbia LLC in the lease renewal for City Year Inc at 1122 Lady St. The organization’s S.C. operation is headquartered in 3,100 square feet of office space in the building.