Trinity Partners represents seller of the Berkeley Building, retained by new owner as exclusive leasing agency
Trinity Partners is pleased to announce the recent sale of the Berkeley Building, located at 200 Center Point Circle in Columbia’s St. Andrews submarket. The Class-A office building was acquired by an affiliate of the Texas-based Sapient Advisors LLC. Trinity Partners’ Paul Hartley, SIOR, Roger Winn, SIOR, and Braden Shockley, represented building ownership in the transaction, in collaboration with Charlotte-based Trinity Partners Investment Sales Team: Dunn Mileham and David Morris. Hartley, Winn, and Shockley have been retained by new ownership as the building’s leasing team.
New ownership has already implemented a capital improvement plan which will entail making a number of building upgrades including but not limited to enhancing the common areas and the shared tenant conference/training room.
“After working together through the successful sales transaction, we are excited to have earned the opportunity to work with new ownership and continue leasing what we believe is one of the finest Class-A suburban office buildings in the entire Columbia market. Based on current activity levels, our expectation is to be 95% leased by the end of 2020”, said Paul Hartley, SIOR, Director, Office Properties.
Exceptionally well-located at the intersection of I-26 and I-20 within the Center Point office park at 200 Center Point Circle, the Berkeley Building totals 74,069 square feet across three stories and is occupied by nationally recognized tenants including FDIC, Transamerica, Hubbell Power Systems and Corvel Healthcare.
“The quality and tenure of the building’s tenancy coupled with its historically strong leasing momentum was well-received by investors and made the sale process very competitive,” continues Hartley. “Ultimately, the collaboration with our Charlotte colleagues made this sale possible through enhanced exposure of the offering to a large pool of national investors.”
The Berkeley Building is Sapient Advisors’ first acquisition in the Columbia Metropolitan Area. The company also owns several buildings in Charleston, South Carolina.
“We’ve been interested in the Columbia market for some time, waiting for the right opportunity to make our first investment in the region. The Berkeley Building’s impressive tenant roster is a testament to the quality of the building and the office park. We’re very pleased we were able to acquire such a quality building in a proven submarket and look forward to the continued expansion of our footprint in South Carolina,” said Chris Weber, CPA, CPM, Principal of Sapient Advisors.
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