More than 45 State parcels for sale
Columbia, SC – February 16, 2016 – The South Carolina Department of Administration selected CBRE as the exclusive agent for the sale of more than 45 surplus properties totaling approximately 690 acres. The sale of these underutilized and surplus assets, which are located throughout South Carolina, will allow the business community and public to acquire land previously unavailable and promote growth, jobs and other private sector opportunities.
CBRE’s Columbia based commercial real estate brokers, Ben Brantley and Martin Moore will lead the effort in collaboration with CBRE’s public sector experts, Michael McShea, Rolf Kemen and Lee Ann Korst.
“Both Governor Nikki Haley and the Department of Administration recognize the tremendous value of selling these assets. The potential to expand economic development and reduce the State’s maintenance expenses will greatly benefit taxpayers,” said Department of Administration Executive Director Marcia Adams.
“The sale of surplus real estate not only saves taxpayer dollars, but also places properties to new uses at the local level, sparking commercial economic activity," said First Vice President Lee Ann Korst with CBRE’s Public Institutions & Education Group. "The State dispositions directly support the State's directive to shrink the real estate footprint, reduce costs and bolster efficiency."
“The State of South Carolina is in the midst of an exciting period of fiscal responsibility and optimizing the State’s valuable resources,” added Ben Brantley of CBRE. “With responsible and progressive leadership, this is an opportune time for the State of South Carolina to assess and evaluate its long-term real estate strategy and implement plans that will positively impact its residents and businesses for generations to come.”
South Carolina’s office and industrial sectors in Greenville, Columbia and Charleston present opportunities for development, according to the 2016 Southeast US Real Estate Outlook by CBRE Research. Office asking rents in all three major cities in South Carolina are increasing and vacancy rates are decreasing. These market conditions currently favor landlords and owners. Gaining confidence, developers are building speculative office space in Columbia for the first time since 2004. Charleston’s office market is very strong, having one of the lowest vacancy rates and one of the highest asking rates in the Southeast. On the industrial side, the parcels around the state provide strategic locations for tenants interested in mitigating port risk by having solid access to both the Ports of Charleston and Savannah, the two fastest growing ports in the country. The Greenville-Spartanburg industrial market is in the midst of a strong level of market growth driven by the growth of manufacturing and activity related to the South Carolina Inland Port (SCIP).
The following link will take you to a detailed listing of each property and property specific information: www.cbre.com/scsurplusproperties. For additional information on specific properties please contact Steve Brown at Stephen.W.Brown@cbre.com or (803) 779-7777.
CBRE’s Public Institutions and Education Solutions (PIES) Group provides real estate services to federal, state, county, city and educational institutions around the country, including The states of Florida, North Carolina, New York, Texas, and Maryland as well as the Cities of Austin, Fort Lauderdale and Miami. In addition, PIES has worked with many universities including, George Washington University and Gallaudet University. The unique benefit of the CBRE platform is both public sector expertise as well as local/regional market presence.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
