Sep
16

CertusBank Building Sold for $6.9 Million

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sold stamp blueInvestment group Rockford Capital Partners has purchased the recently auctioned CertusBank Building on Lady Street for $6.7 million.

The 12-story, 148,000-square-foot facility had been the home of CertusBank since spring of 2014, but the company announced in early June it was selling its deposits, some loans and branches in South Carolina, Georgia and Florida in separate transactions. The building’s previous occupant, NBSC, moved into the Main & Gervais tower in 2010.

“We’re very excited about the opportunity to invest capital into improving the building and bringing it up a notch in the view of the market,” said Douglas Motley, principal of Rockford Capital. “We very much like the Columbia market and have had investments there before. We think it’s a great place to invest, a good growing market and great business community.”

The Wilmington, Del.-based company plans to invest between $1 million and $2 million on interior improvements in order to attract more tenants to the building, which is currently just 54.4% occupied. Those aesthetic changes will take place within the first year of ownership, Motley said.

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