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| Denton Shamburger |
ATLANTA , GA– Lincoln Property Company Southeast (Lincoln)
has brokered the $2.3 million sale of the Seventy Seven Building, a
two-story, 57,375-square-foot office building in Columbia, South Carolina.
Vice President Denton
Shamburger and Senior Analyst Chip Sipple, both of whom are in
Lincoln’s Atlanta office, represented the owner, GE Commercial Finance Business
Property Corp. Roger Winn of NAI Avant represented the buyer, Red Hills
Holdings LLC.
Located at 101 Business Park Blvd., the Seventy Seven
Building is less than 10 minutes from downtown Columbia and less than half a mile
from Interstate 77. The building also is near Interstate 20 and offers free
parking, signage and quality finishes.
The Seventy Seven Building was only 37 percent leased at the
time of sale, and the surrounding submarket has been plagued by high office
vacancies.
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| Chip Sipple |
“We have enjoyed a long and productive relationship with GE,
and we are proud to have assisted them in the disposition of this building,”
said Tony Bartlett, senior vice president at Lincoln who oversees the
Atlanta office.
“This particular sale, with a troubled asset in a sluggish
market, is a powerful example of our ability to find quality buyers, even in
challenging circumstances.”
For a complete copy of the company’s news release, please
contact:
Stephen Ursery
The Wilbert Group
404-405-2354
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