Press Releases
Marcus & Millichap Brokers $7.1M Sale of Retail Property in Columbia, South Carolina
May 28, 2025
COLUMBIA, S.C., May 28, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of two vacant retail buildings located at 3818 Devine Street in Columbia, South Carolina, for $7.1 million. The site was home to a Piggly Wiggly grocery store for more than 40 years before closing in April.
“Through our relationships with both the seller and the buyer, we identified a strong opportunity to align the goals of both parties,” said Harrison Creason, first vice president investments. “This is a prime piece of real estate in a highly visible and well-known part of Columbia. While the property no longer fit the seller’s long-term strategy, it presented a compelling opportunity for a local firm with a proven track record of investing in quality assets and contributing to the community. We were pleased to help facilitate the transaction between the buyer and seller and look forward to seeing how the site evolves.”
Creason and Andrew Margulies, investment specialists in Marcus & Millichap’s Charleston and Raleigh offices, facilitated the transaction between the seller, an out of state owner, and the buyer, Cason Development Group of Columbia.
The 38,816-square-foot property consists of two buildings on 3.22 acres at the corner of Kilbourne Road and Devine Street, a key thoroughfare linking downtown Columbia, the University of South Carolina, and surrounding neighborhoods of Rosewood and Heathwood.
“Through our relationships with both the seller and the buyer, we identified a strong opportunity to align the goals of both parties,” said Harrison Creason, first vice president investments. “This is a prime piece of real estate in a highly visible and well-known part of Columbia. While the property no longer fit the seller’s long-term strategy, it presented a compelling opportunity for a local firm with a proven track record of investing in quality assets and contributing to the community. We were pleased to help facilitate the transaction between the buyer and seller and look forward to seeing how the site evolves.”
Creason and Andrew Margulies, investment specialists in Marcus & Millichap’s Charleston and Raleigh offices, facilitated the transaction between the seller, an out of state owner, and the buyer, Cason Development Group of Columbia.
The 38,816-square-foot property consists of two buildings on 3.22 acres at the corner of Kilbourne Road and Devine Street, a key thoroughfare linking downtown Columbia, the University of South Carolina, and surrounding neighborhoods of Rosewood and Heathwood.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
