Charleston retail, office center sells for $6M

Coldwell Banker Commercial Atlantic has sold a Class A retail/office center at 3750 Savannah Highway, positioned on the corner of Bees Ferry Road and Savannah Highway in Charleston.

The transaction closed for $5.89 million, according to a news release.

Kip Bowman and Sara Bodell of Coldwell Banker Commercial Atlantic represented the selling side of the transaction between seller, El Cid Alpha LLC, and buyer, 168 LLC, according to the release. The 15,000-square-foot shopping center’s tenants include Subway, Stono Dental Care, Method Training, Benchmark Physical Therapy, Nail Kit, State Farm and Domino’s.

“This attractive, bustling retail center is well-suited for retail and office tenants, a perfect investment opportunity,” said Bodell in the release. “The West Ashley/Charleston area is the gateway to the fast-paced development in Southern Charleston County. Growing communities with a strong economy, beautifully planned neighborhoods, rich history, and plenty of southern hospitality are all attributes drawing new residents and businesses to this area.”

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According to Bowman, the Charleston region’s population is growing three times faster than the U.S. average, having reached more than 830,000 residents.

“There has been an influx of well-educated young talent, who come for jobs or to create their own business in an entrepreneurial-friendly community,” Bowman said in the release.“And since 2005, the Charleston economy has more than doubled due to the manufacturing additions of Boeing and Volvo, a growing IT sector and the expansion of our port.”

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