Transwestern Real Estate Services’ Southeast Investment Services team has brokered the sale of 605 Munn Road, a Class A, 168,078-square-foot office property in Fort Mill, South Carolina. Transwestern Senior Managing Directors John Bell and Kevin Markwordt represented the seller in the disposition, a CMBS Trust serviced by Argentic Services Company LP of Plano, Texas.
“Offered significantly below replacement cost and 35% occupied, the property attracted a robust level of interest, indicative of a strong market for occupancy-challenged office assets that are offered at reset market pricing,” said Bell.
Developed as a build-to-suit for CitiFinancial’s headquarters in 2005, the property has been institutionally maintained, limiting required capital. Fort Mill is one of the nation’s fastest-growing cities and a sought-after destination within suburban Charlotte, just 25 minutes south of Uptown along Interstate 77, the region’s dominant corporate corridor. The property is near the popular Kingsley mixed-use development and the new Piedmont Medical Center.
Transwestern’s Southeast Investment Services team combines capital markets and investment sales expertise, local market knowledge and proven transaction execution to provide strategic disposition services for multifamily, office, medical office, retail, industrial and land assets located throughout the Southeast. Based in Atlanta and Miami, the team has established a successful track record for maximizing value and creating lasting relationships with clients that range from local entrepreneurs to the largest corporations in the country.