“The COVID-19 pandemic has caused unsteady capital markets and pandemic-related rent relief,” said Durkin, Brokerage Associate with Colliers | South Carolina. “However, we were able to underwrite and negotiate a mutually beneficial transaction for both the buyer and the seller.”
The shopping center is located at the center of a major retail corridor in Aiken, SC. It is 100% occupied with nationally recognized tenants including Panera Bread, Vitamin Shoppe, Mattress Firm and Aspen Dental.
Ted Rausch from Colliers’ Real Estate Management Services (REMS) division played a key role in finalizing the transaction. “Ted’s knowledge and past experience working with the tenants and previous owners allowed him to answer several questions from the buyer about the condition of the property,” said Kastenholz, Vice President with Colliers | South Carolina. “His knowledge ultimately helped prepare them for a successful transition of ownership. We are thankful for his hard work and the value that he added to this acquisition.”
Kastenholz is part of the Colliers investment sales team, specializing in the sale of investment properties in South Carolina as well as nationally.