Colliers | South Carolina brokers Markus Kastenholz, CCIM, CPA and Joe Durkin represented the seller in the closing of a $5.6 million, ±14,464-square-foot shopping center.
“The COVID-19 pandemic has caused unsteady capital markets and pandemic-related rent relief,” said Durkin, Brokerage Associate with Colliers | South Carolina. “However, we were able to underwrite and negotiate a mutually beneficial transaction for both the buyer and the seller.”
The shopping center is located at the center of a major retail corridor in Aiken, SC. It is 100% occupied with nationally recognized tenants including Panera Bread, Vitamin Shoppe, Mattress Firm and Aspen Dental.
Ted Rausch from Colliers’ Real Estate Management Services (REMS) division played a key role in finalizing the transaction. “Ted’s knowledge and past experience working with the tenants and previous owners allowed him to answer several questions from the buyer about the condition of the property,” said Kastenholz, Vice President with Colliers | South Carolina. “His knowledge ultimately helped prepare them for a successful transition of ownership. We are thankful for his hard work and the value that he added to this acquisition.”
Kastenholz and Durkin are part of the Colliers investment sales team, specializing in the sale of investment properties in South Carolina as well as nationally.
Colliers | South Carolina has over 150 staff members, including 62 licensed real estate professionals, covering the entire state with locations in Charleston, Columbia, Greenville and Spartanburg. Total 2020 brokerage volume exceeded $533 million, which included over 456 sales and leasing transactions. In addition to traditional commercial real estate representation services for our clients, the company is actively engaged in Corporate Solutions and Healthcare Services. Colliers is an Accredited Management Organization (AMO) through the Institute of Real Estate Management (IREM) and is the largest manager of commercial real estate properties in South Carolina, with a portfolio of over 16 million square feet of office, industrial, retail and healthcare properties. Colliers | South Carolina’s staff hold 49 professional designations, the most of any firm in South Carolina. Colliers | South Carolina’s partner, LCK, provides project management services for new facilities and renovations across South Carolina.
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn