Waterstone Multi-Family Group is pleased to present the sale of Pine Villas Apartments; a 20 unit market rate apartment complex located on the western side of Florence, SC (Florence County).
The city of Florence was founded as a railroad hub and, as of 2017, Florence’s economy was transformed from being largely based on rail and farming into a diversified economy as the major commerce, finance, rail and trucking services, health care, and industrial center of the Eastern Carolinas. There are over 9 foreign affiliated companies and fourteen Fortune 500 companies in the region. The gross domestic product (GDP) of the Florence metropolitan statistical area as of 2009 was $6.8 billion, one of the highest among MSAs in the state.
Milken Institute 2008 Best Performing Cities Index showed the Florence MSA as the 5th largest gainer in their evaluation of the top 124 small metropolitan areas in the United States. The report ranks U.S. metropolitan areas by how well they are creating and sustaining jobs and economic growth. The components include job, wage and salary and technology growth.
Florence has blossomed into a strong center for medical care, with three major medical providers McLeod Regional Medical CenterCarolinas Hospital System and HealthSouth. The growth of these providers has led to the transformation of the Florence skyline over the last 10 years, with development for demand with multi-story high-rises as well as community relation projects.
With such a strong medical community several companies have their global, continental, or national headquarters in Florence, including General Electric Medical Systems manufacturing operations, TRICARE, and Assurant Insurance. The city also serves the pharmaceutical industry: with a Hoffman-La Roche pharmaceutical manufacturing facility and research and development center for Patheon API Services.
Florence serves as the financial and service hub for the Eastern Carolinas, with many financial and professional management institutions invested heavily within the city. Companies with regional operations and headquarters include, BB&T, Monster.com and Bank of America. Florence has operations headquarters for AT&T and Duke Energy Inc.
Geographically, the city has benefited being located at the intersection of I-95 and I-20, approximately halfway between New York City and Miami. The city is centrally located 80 miles from Columbia, 70 miles from Myrtle Beach, 120 miles from Charleston and 110 from Charlotte. This has allowed Florence to bring in major manufacturers such as Honda, QVC Distribution Center and Otis Elevator.
- Address: 2400 Hyde Circle Florence, South Carolina
- Number of Units: 20
- Year Built: 1964
- Acres: 2.3