Colliers Arranges $4M Sale of South Carolina Retail Property
Colliers has arranged the $3.6 million sale of a 10,125-square-foot retail property occupied by CVS/Pharmacy in Sumter, S.C. CVS/Pharmacy currently holds a long-term lease for the building and has operated at this location since 1999.
Jon Busse of Colliers San Diego represented the California-based buyer, the Richard K. Hansen Trust, in the transaction. Busse has brokered five CVS single tenant retail buildings in 5 different states since March 2020 and during the COVID-19 pandemic. Joshua Berger of Kidder Mathews represented the seller, Pogback Real Estate.
“Deals continue to happen across the country for properties with essential, high-credit retail tenants such as CVS/Pharmacy,” said Busse. “This property features a recently extended 15-year lease, which was appealing to the California-based investor.”
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.