The UTI Distribution facility was a 250,000-square foot investment property that had its own set of challenges.  This property was leased to a single tenant on a short-term basis for below market rents.  With interest rates being at a historical low, the owner of the property wanted to sell in order to reinvest their capital in other areas.  By reaching far beyond Columbia, Colliers Keenan was able to find a national buyer, even though the property’s income level was not in accordance with the market.  Using our local market knowledge, we were able to demonstrate that this property would be lucrative as a long-term investment.

Finding a buyer for this property was just the beginning of the challenges that we faced with this property.  Once financing was established, a zoning letter was needed from Lexington County.  When we requested this, the County informed us that the property was of non-conforming use due to parking regulations, even though it was zoned as heavy industrial.  So as to not delay the closing that was previously scheduled, we expediently utilized our contacts and resources to resolve challenges that arose in a matter of weeks.

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