What made it special:
- This property was acquired off-market through an existing relationship. The team
was able to leverage existing knowledge of the asset from previous due diligence
and could react quickly.
- Charleston market poised for continued growth with an educated and abundant
labor pool and ongoing population and employment growth.
- Prime location on the main interstate into Charleston, and surrounded by
numerous walkable amenities, dining, and entertainment options in the vibrant
- Best-in-class building design, boasting LEED Silver status, ample natural light
throughout, modern common area finishes, and efficient floorplans.
- Going-in cap rate of 7.4% providing average cash-on-cash returns in excess of 8%
- Within first 6 months of ownership, secured new national tenant to increase
occupancy to 100%.