Real Estate Weekly
Image default
Deals & Dealmakers

Charleston Office Building Commands $16.9 Million Sale Price

 Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of North Rhett Executive Center, a 64,800-square-foot, Class A office/flex building located in North Charleston, South Carolina. The asset sold at a capitalization rate of 6.70 percent, bringing the sale price to $16,900,000 or $260.80 per square foot.

“With our national reach and access to the largest pool of 1031 exchange buyers, we were able to build competition between investors,” says Ani Paulson, senior associate and lead agent on the deal. “This enabled us to achieve aggressive pricing and favorable terms for the seller.”

Paulson and Pearce Vogler, both of the firm’s Charleston office, had the exclusive listing to market the property on behalf of the seller. The team also secured the out-of-state buyer.

North Rhett Executive Center is located at 5617 N Rhett Avenue in North Charleston, South Carolina. Built in 2008, the building contains eight suites and sits on 5.02 acres of land. The property is primarily occupied by Department of Defense tenants and is positioned near Joint Base Charleston and Charleston International Airport.

(Visited 1 times, 2 visits today)

Related posts

Hospitality-Infused Repositioning at 545 Madison Drives Occupancy to 100 Percent with 76,500 SF of New and Extended Leases


Brookfield Properties, Park Tower Group Announce Launch of Leasing at Luxury Brooklyn Waterfront Residential Towers Eagle + West


Newmark Arranges Sale of Net-Leased Medical Office
Building in Los Angeles’ Eagle Rock Neighborhood for
$18.25 Million