Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in Building A of the Real Estate Central Plaza located in the Charleston, South Carolina MSA. The multi-tenant building totals 6,600 square-feet and is part of a 3-building office park. The subject property rests on 0.94 acres and is currently 100% occupied by a diverse tenant mix, including the owner user Better Homes & Gardens, who occupies 63% of the GLA. The subject property was built in 1988, the current owner has recently put over $100,000 in renovations into this asset. This property offers substantial value-add opportunity through extending lease term and converting current leases to NNN. Located along the Atlantic seaboard, the Charleston metro encompasses Charleston, Berkeley and Dorchester counties in southeastern South Carolina. A favorable business climate is helping draw companies and workers to the region. Vehicle manufacturing is growing with recent expansions at Mercedes-Benz and Volvo. Walmart also recently began development of a 3 million square-foot distribution center in Ridgeville. The metro population has grown by roughly 243,000 people since 2000 and the market is forecast to receive another 75,000 people through 2024. Charleston is the largest city in the metro with 142,000 residents, followed by North Charleston with 109,800.