High Credit Tenancy and Flourishing Downtown Provide Strong Tailwinds
Glenfield Capital has completed the purchase of 1441 Main, one of the premier office towers located in the Central Business District of Columbia, SC. Along with the 265,000 SF office tower’s Main Street location, street-level retail and a lower level parking structure, the acquisition also included an ownership interest in the adjacent 2.5 acre surface parking lot.
With a current occupancy of 88%, the building is anchored by Wells Fargo. Other tenants include Accenture, GSA, IBM, AT&T and US Bank. $8 million of renovations and upgrades have been completed over the past 10 years.
James Cate, Managing Principal of Glenfield Capital, commented, “We are excited to own a very well located, top-of-the-market asset that offers an opportunity to create additional value in meaningful ways. Main Street is experiencing a renaissance similar to higher profile cities, and 1441 is in the center of this ongoing trend.”
Downtown Columbia is undergoing a resurgence that is transforming it from a 9 to 5 community into a 24/7 vibrant destination. The neighboring real estate around 1441 Main has been invigorated not only by the adaptive reuse of older buildings, but also through the addition of new student housing, residential developments, hotel rooms, chef-driven restaurants and complementary street level retail.
Leasing and property management have been awarded to Colliers International.
ABOUT GLENFIELD CAPITAL
Glenfield Capital is an Atlanta, Georgia based private real estate investment company and asset manager. Its principals have decades of real estate investment experience including more than $1 billion in advisory and principal activities. Glenfield’s current portfolio includes over 900,000 square feet in the Southeastern US. For more information please visit www.glenfieldcapital.com.