COLUMBIA, SC – CB Equities, an experienced real estate company headquartered in Massachusetts, made its initial investment in the Columbia market with the $10 million purchase of 20/21 Business Center, a 98,396 square foot three-building flex/office business park with visibility from I-20 and six acres of undeveloped land.
CB Equities has retained CBRE to lease and manage the park. “Our team is thrilled to welcome CB Equities to the Columbia market and anticipate continued success in leasing of this property,” said Marie Dieckmann, a Senior Associate with CBRE’s Columbia office, “the new ownership is eager to complete planned improvements for the benefit of current and future tenants of 20/21 Business Center.”
The new owners have already started an extensive modernization effort with major improvements to the property, including updates to the exterior façade, lighting, parking lots, signage, and landscaping.
CBRE’s Aaron Dupree, Marie Dieckmann, Tim Lovett, and Tripp Sellers represented the seller, Los Angeles-based BH Properties. The seller engaged CBRE to lease, manage and stabilize the property in preparation for sale, for which CBRE achieved 93.2 percent occupancy. Tenants include State Line Lighting, Vinebrook Homes, JSC Systems, Grapevine of South Carolina, and National Seating & Mobility.
Currently, 20/21 Business Center has a few remaining suites available for lease ranging from 2,500 to 6,700 square feet. Built in 1987, 20/21 Business Center is comprised of three multi-tenant, one-story buildings with loading docks located at 6904 North Main Street, 100 Northeast Drive, and 400 Northeast Drive. The buildings and suites were designed to accommodate both office and flex/showroom warehouse users. The purchase also included six acres of land in an opportunity zone for which the new ownership is engaging with local architects and consultants to explore development options.
Ideally situated on the southeast corner of the I-20 and U.S. Highway 21 interchange, the property offers tenants high visibility, quick access to Columbia’s main interstates, and is the midway point between New York and Miami. It is 90 minutes to Charlotte, two hours from the port of Charleston, and three hours to Atlanta.
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