News Summary
Columbia’s business landscape sees a boost as the 20/21 Business Center, a significant flex property, is sold for $13.8 million. Spanning 98,386 square feet, this three-building complex features 17 dock doors and a 98% leasing rate. With its prime location and increasing demand for flexible workspaces, this sale is a pivotal moment for the area’s commercial real estate market. Recognizing the potential of the property, the buyer Denholtz aims to contribute positively to Columbia’s growth.
Exciting Developments in Columbia: A Major Flex Property Sale!
Columbia is buzzing with news as a significant commercial real estate transaction has just taken place. The 20/21 Business Center, a prominent three-building flex property, has been sold for a remarkable $13.8 million. This sale marks an exciting milestone for the area, as it increases interest and investment in Columbia’s growing business landscape.
A Quick Look at the Property
If you’re curious about this property, here’s the lowdown: the 20/21 Business Center spans an impressive 98,386 square feet and is beautifully situated across multiple addresses, including 100, 200, 300, and 400 NE Drive, 6904 N Main Street, and Frontage Road. Conveniently located in a bustling business park, this site encompasses 17.64 acres of prime real estate.
The flex asset is quite a gem, featuring 17 dock doors and 19 drive-in doors, making it accessible and versatile for a range of businesses. As it stands, this property is an attractive option for tenants, with a current leasing rate of an impressive 98% serviced by a diverse mix of tenants.
Behind the Sale
The property was sold by CB Equities, who acquired it just a couple of years prior at the price of $10.5 million. The transaction took place in February 2025, indicating the tremendous potential and growth this area holds. The buyer, Denholtz, has recognized the charm and promise of the 20/21 Business Center as a valuable addition to their portfolio.
The Bigger Picture
What does this mean for Columbia? Well, the increased activity in the flex property market is a trend that reflects a wider demand for flexible workspaces. As we see more entrepreneurs and small-business owners in the area, the need for functional and adaptable spaces is only going to rise.
This sale further highlights an interesting challenge in the commercial property market. There’s a constrained supply of functional flex products in the Southeast, making every good deal a hot commodity. Recent construction costs have created obstacles for new developments, especially in smaller markets. As a result, existing properties, such as those in Columbia, are witnessing significant growth in rental rates.
Location Benefits
One of the prime advantages of the 20/21 Business Center is its fantastic location. Situated just 15 minutes from Columbia’s Central Business District, it offers direct access to Interstate 20, ensuring that businesses can easily reach their customers and suppliers. The visibility from the interstate is an added bonus that enhances its appeal.
Key Players in the Deal
The sale was facilitated by a skilled team, showcasing their expertise in commercial real estate transactions in South Carolina. Their knowledge and strategic planning were crucial in navigating the complexities of the deal. As Columbia continues to thrive, the contributions of such talented professionals cannot be overstated.
The Implications for Future Growth
So, what’s next for Columbia? As demand for flex space evolves, local businesses will have more opportunities for growth, and investors will keep their eyes peeled for future transactions. The successful sale of the 20/21 Business Center could spur additional interest in the region, promoting a ripple effect that benefits the entire community.
In summary, the sale of this flex property not only underlines Columbia’s progress but also sets a positive tone for the future of commercial real estate in the area. With its thriving business dynamics, Columbia looks poised for exciting developments ahead.
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Additional Resources
- Columbia Business Report: Flex Property Sold for $13.8M
- Inside Self Storage: A Flex Space Case Study
- CBRE: Columbia Office Figures Q4 2024
- Wikipedia: Flex Space
- Goodwin Law: 2024 RECM Recap
- Colliers: Venture X Coworking Space in Columbia
- YieldPro: Collective at Columbia
- Google Search: Columbia Business Real Estate
- Encyclopedia Britannica: Flexible Workspace
- Google News: Columbia Real Estate News
