460,000 SF CBD Office Building Sold in Columbia


capitol centerCBRE has arranged the sale of Capitol Center, a 460,020-square-foot Class-A office building in Columbia, South Carolina. Hamilton Equity Partners of New York, New York, acquired the property from a joint venture between M&J Wilkow and Intercontinental Real Estate Corporation on September 29, 2017. CBRE’s Justin Parsonnet, Will Yowell, Ryan Reethof, Patrick Gildea, Martin Moore and Aaron Dupree represented the seller.

Capitol Center is 87% occupied and located in Columbia’s CBD submarket. The tallest building in South Carolina features 25 stories and provides unparalleled views and visibility to its diverse tenant base that spans across government, law, banking, insurance and more. Anchor tenants include Haynsworth Sinkler Boyd, BB&T, Alliance Consulting Engineers, Gallivan White & Boyd, South Carolina Department of Commerce and the building’s own private dining club, Capital City Club.

The CBD is Columbia’s dominant and strengthening office submarket. According to CBRE’s Q2 2017 Columbia Office Marketview, the CBD’s downtown vacancy has declined by more than 50 basis points to 11.3%. Affordable rents and an educated workforce from the University of South Carolina are attracting outside investors drawn to the market’s solid fundamentals. Capitol Center is the fourth office tower in the CBD to trade this year.

CBRE has been hired as the exclusive leasing agent for Capitol Center. Planned improvements for Capitol Center include upgrades to the main lobbies, conferencing facilities, elevators, and common areas.

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