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Lincoln Brokers $2.3 Million Sale of Columbia, South Carolina, Office Building

11 Jul 2014

building 1Lincoln Property Company Southeast (Lincoln) has brokered the $2.3 million sale of the Seventy Seven Building, a two-story, 57,375-square-foot office building in Columbia, South Carolina.

Vice President Denton Shamburger and Senior Analyst Chip Sipple, both of whom are in Lincoln’s Atlanta office, represented the owner, GE Commercial Finance Business Property Corp. Roger Winn of NAI Avant represented the buyer, Red Hills Holdings LLC.

Located at 101 Business Park Blvd., the Seventy Seven Building is less than 10 minutes from downtown Columbia and less than half a mile from Interstate 77. The building also is near Interstate 20 and offers free parking, signage and quality finishes.

The Seventy Seven Building was only 37 percent leased at the time of sale, and the surrounding submarket has been plagued by high office vacancies.

“We have enjoyed a long and productive relationship with GE, and we are proud to have assisted them in the disposition of this building,” said Tony Bartlett, senior vice president at Lincoln who oversees the Atlanta office. “This particular sale, with a troubled asset in a sluggish market, is a powerful example of our ability to find quality buyers, even in challenging circumstances.”