Former Cypress Restaurant building changes hands
October 5, 2017
NAI Charleston announced the $6.65 million sale of the ±13,210-square-foot, two-story restaurant building at 167 East Bay Street in downtown Charleston. NAI Charleston’s Broker-in-Charge/Partner Thomas Boulware represented the buyer, TAC East Bay, LLC, while Broker/Partner David Grubbs, along with Brokers Andrew Braden and Elliot Calhoun represented the seller, Parsell Enterprises, LLC.
Originally constructed in 1834 as an office building, 167 East Bay Street was redeveloped into a restaurant space in 2001 for Cypress’ premier location. TAC East Bay, LLC, an investment group, purchased the historic structure, with Rockit Hospitality as a tenant. Rockit Hospitality currently owns Fleet Landing, and will expand its restaurant portfolio with a new fine-dining concept.
“We are very grateful, to have played a key role in the transition of this historic property, and are confident that the future use will complement the hospitality district along the lower East Bay corridor,” said Braden.
About NAI Charleston
NAI Charleston is a member of the leading owner-operated commercial real estate network, NAI Global, which has more than 400 offices and 7,000 market professionals in North America, Latin America, Europe, Africa, and Asia Pacific.
