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201 Sigma Drive

Summerville, SC

Project:201 Sigma Drive (Summerville, SC)

Size:97,448 rentable sf

JLAM leveraged an off-market channel to acquire this trophy office property located in a rapidly growing submarket of Charleston, SC. The investment offered 95% occupancy, a stable and diversified rent roll with 7+ years remaining lease term, and limited short-term capital expenditure required.

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
    Nexton community.
  • Best-in-class building design, boasting LEED Silver status, ample natural light
    throughout, modern common area finishes, and efficient floorplans.

Result:

  • Going-in cap rate of 7.4% providing average cash-on-cash returns in excess of 8%
    per year.
  • Within first 6 months of ownership, secured new national tenant to increase
    occupancy to 100%.
Jack Lingo Asset Management

246 Rehoboth Ave

Rehoboth Beach, DE 19971

Main: 302-226-6645

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