NAI Avant brokers sale of former Charleston City Paper building on the upper peninsula for nearly $2 million

July 17, 2017

NAI Avant announced the sale of 1049 Morrison Drive, a ±5,400 square foot (SF) office building situated along Charleston’s upper peninsula.

Managing principal David Grubbs and brokers Andrew Braden and Elliot Calhoun of NAI Avant represented the seller, Newton Holdings LLC in the transaction, while Adam Griffin of Colliers International represented the buyer, Apex 1031 Exchange LLC.

The two-story building, formerly home to the Charleston City Paper and Jones Publishing Company, sold for $1.95 million. Located along Charleston’s “digital corridor” in the desirable Half Mile North neighborhood, the multi-tenant office building is for lease. The new owner intends to add additional parking on site.

“Charleston’s upper peninsula is now a focal point for businesses looking to operate downtown,” said Braden. “The upper peninsula’s Half Mile North neighborhood has become the flagship for Charleston’s growing tech sector, and boasts a handful of homegrown restaurants and businesses alike. The appeal of this neighborhood can be attributed to its modern style, cheaper real estate and immediate access to Charleston’s main transportation artery, I-26.”

For more information, contact Andrew Braden at +1 (843) 518 5379 or [email protected].

 

About NAI Avant

NAI Avant’s commercial real estate business is one of the largest in the Southeast. With over 65 professionals, the firm provides comprehensive brokerage, leasing, development, property and project management services. For nearly three consecutive decades, the group has had more of its brokerage professionals recognized as top producers or recipients of the top awards than any other firm in South Carolina. As a member of the NAI Global Network, NAI Avant is affiliated with more than 400 offices strategically located throughout North America, Latin America, Europe and Asia Pacific, with over 7,000 local market professionals, managing over 425 million square feet of property. NAI Global is the single largest, most powerful global network of owner-operated commercial real estate brokerage firms and is a wholly owned subsidiary of C-III Capital partners. NAI Global Member firms, leaders in their local markets, are actively managed to work in unison and provide clients with exceptional solutions to their commercial real estate needs. NAI Avant’s Property and Project Management Group currently manages a multi-million square foot portfolio of properties across South Carolina, North Carolina, and Georgia. Through its Avant Healthcare Division, the firm provides comprehensive services to hospitals, clinics, and physician groups. NAI Avant, founded in 1966, is headquartered in Columbia, SC with an office in Charleston, SC. Find out more about NAI Avant and its services at www.naiavant.com. Be sure to follow us on Twitter @NAIAvant and like us on Facebook.