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Single-Tenant Office

IGS Energy (Dominion)

2231 S Centennial Ave, Aiken, SC 29803

Listing Price: $9,385,000

Cap Rate
6.50%
Tenant Name
IGS Energy
Years Remaining On Lease
4.8
Guarantor
Corporate Guarantee
Rentable SF
51,250
Lease Type
Double Net
Rent Per Square Feet
$12.50

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in the single-tenant office fully leased by IGS Energy, an affiliate of Dominion Energy, located at 1995 S Centennial Avenue, Aiken, SC. The building totals 51,250 square-feet and is situated on 6.80 acres. The building had significant capex repairs in 2021, including roof & HVAC replacements, new exterior paint, and new landscaping. The tenant, is on a corporate guaranteed NN lease with approximately 5 years of term remaining, 3% annual escalations, and has one, 5-year option to renew. Dominion Energy, has investment grade credit ratings of BBB+ (S&P) & Baa2 (Moody’s), & has occupied the subject property for 20+ years. The property is strategically positioned in Centennial Park, with corporate tenants including UPS & Ahh Sunshine, in addition to the immediate surrounding area featuring numerous national retailers. Aiken is a part of the greater Augusta, Georgia MSA which is the home of Augusta National Golf Club, where the Masters Tournament is played each year. The Augusta-Richmond County metro consists of seven counties: Burke, Columbia, Lincoln, McDuffie and Richmond counties in Georgia, and Aiken and Edgefield counties in South Carolina. There are roughly 617,000 residents in the market and the region is projected to add 32,000 people and 14,200 households over the next five years. The consolidated city-county of Augusta-Richmond contains approximately 203,000 citizens.

Investment Highlights

  • Single-Tenant NN Lease by IGS Energy | Corporate Guarantee
  • 3% Annual Escalations | Approx. 5 Years of Term Remaining | Tenant has Occupied Property for 20+ Years
  • Significant CapEx Renovations in 2021 | Roof & HVAC Replacement |New Exterior Paint & Landscaping

Exclusively Listed By

Single-Tenant Office

IGS Energy (Dominion)

Listing Price: $9,385,000

Cap Rate
6.50%
Tenant Name
IGS Energy
Years Remaining On Lease
4.8
Guarantor
Corporate Guarantee
Rentable SF
51,250
Lease Type
Double Net
Rent Per Square Feet
$12.50

Investment Highlights

  • Single-Tenant NN Lease by IGS Energy | Corporate Guarantee
  • 3% Annual Escalations | Approx. 5 Years of Term Remaining | Tenant has Occupied Property for 20+ Years
  • Significant CapEx Renovations in 2021 | Roof & HVAC Replacement |New Exterior Paint & Landscaping

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in the single-tenant office fully leased by IGS Energy, an affiliate of Dominion Energy, located at 1995 S Centennial Avenue, Aiken, SC. The building totals 51,250 square-feet and is situated on 6.80 acres. The building had significant capex repairs in 2021, including roof & HVAC replacements, new exterior paint, and new landscaping. The tenant, is on a corporate guaranteed NN lease with approximately 5 years of term remaining, 3% annual escalations, and has one, 5-year option to renew. Dominion Energy, has investment grade credit ratings of BBB+ (S&P) & Baa2 (Moody’s), & has occupied the subject property for 20+ years. The property is strategically positioned in Centennial Park, with corporate tenants including UPS & Ahh Sunshine, in addition to the immediate surrounding area featuring numerous national retailers. Aiken is a part of the greater Augusta, Georgia MSA which is the home of Augusta National Golf Club, where the Masters Tournament is played each year. The Augusta-Richmond County metro consists of seven counties: Burke, Columbia, Lincoln, McDuffie and Richmond counties in Georgia, and Aiken and Edgefield counties in South Carolina. There are roughly 617,000 residents in the market and the region is projected to add 32,000 people and 14,200 households over the next five years. The consolidated city-county of Augusta-Richmond contains approximately 203,000 citizens.

Exclusively Listed By

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