560 Chris Drive in West Columbia reaches full occupancy with new lease to Carrier, now for sale to investors
October 31, 2017
Brokers pivot from leasing to marketing the fully occupied property to potential investors.
Colliers International’s Chuck Salley, SIOR, Dave Mathews, SIOR and Thomas Beard represented the owner, Ronald Weathers, in the lease of 3,656 square feet of industrial space at 560 Chris Drive in West Columbia. The new space will be occupied by Carrier, an air conditioning system supplier. As a result of the recent transaction, 560 Chris Drive is now at 100% occupancy, and the brokerage team will pivot their priorities from leasing the building to selling it to investors.
“With the addition of Carrier, 560 Chris Drive is now fully occupied by high quality, credited tenants, a key indicator of an industrial building’s success in the market,” said Salley. “Now that we have been able to reach this goal, we will begin positioning and marketing the building for sale as an attractive investment opportunity.”
The Cayce West Columbia sub-market is one of the tightest flex/industrial markets in the central South Carolina region, recording an overall vacancy rate of 2.82% at the end of the second quarter of 2017. Demand for space remains strong and rental rates are on the rise. These market factors, coupled with strong investor demand for quality net leased assets, creates a desirable opportunity for investors.
Salley, Mathews and Beard are the leading industrial brokerage team in central South Carolina, specializing in leasing, user sales and investment sales of industrial properties. Their multi-faceted platform gives them a unique insight into market conditions for all types of industrial properties.
About Colliers International
Colliers International | South Carolina has over 150 staff members, including 64 real estate professionals. Total brokerage volume for the firm in 2016 was approximately $634 million involving over 659 sales and leasing transactions. Colliers International is the largest manager of commercial property in South Carolina and is an Accredited Management Organization (AMO) through the Institute of Real Estate Management (IREM), with a portfolio at year-end 2016 of approximately 14 million square feet of office, industrial, retail and healthcare properties. Colliers International’s staff holds 53 professional designations, the most of any firm in South Carolina.
Colliers International Group Inc. (NASDAQ and TSX: CIGI) is an industry leading global real estate services company with 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that helps clients accelerate their success. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 12 consecutive years, more than any other real estate services firm. Colliers also has been ranked the top property manager in the world by Commercial Property Executive for two years in a row.
