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Insite Properties Receives $26M for Charleston Office Collection
Cushman & Wakefield has finalized the sale of Albemarle Point Center, a collection of two office buildings in Charleston’s West Ashley submarket, for $26 million.
Cushman & Wakefield’s Rob Cochran, Bill Harrison, and Nolan Ashton with local support from Nick Tanana and Brady Dashiell represented the seller, Insite Properties.
Albemarle Point Center totals 83,682 square feet and includes one multi-story building at 176 Croghan Spur Road and a single-story flex building at 238 Albemarle Road.
Both buildings are located in Charleston’s largest population center and are only five minutes from the Peninsula, Interstates 26 and 526 and US Highway 17.
“Apart from its ideal location, the Albemarle Point Center has a diverse roster of long-term tenants and 92% occupancy across both buildings, said Harrison, executive director at Cushman & Wakefield. “This offers the buyer a consistent cash flow, smooth lease expiration schedule and the opportunity to lease up vacant space.”
- ◦Sale/Acquisition
