Holder Properties announces sale of Main and Gervais
August 9, 2017
Holder Properties, a privately held full-service commercial and residential real estate developer, is pleased to announce the sale of Main and Gervais, an 18-story, 186,000 square foot class A office building in downtown Columbia to KBS Realty Advisors based in Newport Beach, CA.
Main and Gervais is a landmark office building holding a prominent downtown location at 1221 Main Street, adjacent to State Capitol. The office building is ENERGY STAR certified and features The Oak Table restaurant, an NBSC/Synovus bank branch, and a fitness center. Main & Gervas is 98 percent occupied to EDENS, NBSC/Synovus Bank, McNair Law Firm, Womble Carlyle, Rogers Townsend and Parker Poe.
“We and our tenant partners determined it was a great time to market the building,” said John Holder, chairman & CEO of Holder Properties. “In the end, we thought KBS was the right fit given their building portfolio in the Southeast and their pricing.”
Patrick Gildea, Matt Smith, Justin Parsonnet, Martin Moore and Aaron Dupree with CBRE represented the seller in this transaction.
“The sale of Main & Gervais represents the first core, trophy office building sale in Columbia in years,” commented Patrick Gildea. “The interest from national, institutional quality purchasers was strong, and we are pleased that a purchaser of KBS Realty Advisors’ caliber is making a meaningful investment in the Columbia market.”
Holder Properties will continue to manage and lease Main & Gervais on behalf of KBS Realty Advisors.
