Charleston, SC – Colliers International | South Carolina represented both the buyer and seller in the $1,250,000 sale of land for a new development within the Charleston metropolitan area. Atlantic South Development purchased the property from Belle Hall Land Investments, LLC with plans to construct a 38,360-square-foot office building.
The Offices at Belle Hall will join the Belle Hall Shopping Center off of Long Point Road, a 287,000-square-foot retail center anchored by Harris Teeter, Steinmart and Tuesday Morning. The building will offer up to 38,360 square feet of office space for lease and is within walking distance of 15 restaurants and dozens of other retail and service establishments. The development is also within a mile from the interchange of I-526 and Long Point Road, providing the Offices at Belle Hall with superior access to the region’s workforce.
“This was a smart investment for Atlantic South Development. The Mount Pleasant office market continues to have low vacancy, with vacancy across all types of office space at 2.5% and Class A vacancy slightly above 2%,” said Adam Griffin, Brokerage Associate. “In addition, this project will be in a prime position to take advantage of the walkable amenities of the mixed-use Belle Hall development.”
Two of Colliers International’s office specialists, Peter Fennelly, SIOR, MCR, SLCR and Mark Mattison, SIOR, CCIM, represented the seller, Belle Hall Land Investments LLC. Daniel Pellegrino and Adam Griffin, who specialize in the sale of development and investment properties, represented the buyer, Atlantic South Development.