700 GERVAIS 100% LEASED, REFLECTING DOWNTOWN OFFICE RESURGENCE AND VISTA VIBRANCY, COLUMBIA, SC
Columbia, SC (October 2, 2012) NAI Avant is pleased to announce Lexington Medical and Academy Mortgage recently signed long term leases with 700 Gervais. Additionally, Uti Integrated Logistics recently renewed its lease within the Class A facility last week. This makes 700 Gervais one of the only Class A multi-tenant office buildings in the Central Business District that is 100% leased. Paul Hartley, SIOR, and Macon Lovelace, both members of NAI Avant’s Office Brokerage Team, represented the owner, Arnold Companies in the lease transactions.
Hartley recalls “during the depth of the recession, vacancy in the building being a huge challenge after McAngus, Goudelock and Courrie P.A. vacated the property in 2010, leaving 39,000 square feet of space. Since then we’ve seen a steady increase in interest in the building.” In the later part of 2010, South Carolina Bank and Trust expanded their office space in 700 Gervais by approximately 15,000 RSF which brought their total occupancy to over 26,000 square feet. The two recent leases with Lexington Medical and Academy Mortgage accounted for the remaining building vacancy which was approximately 24,000 square feet. Today, 700 Gervais boasts a lively mix of professional office, medical, service and entertainment complimentary uses. The transaction velocity reflects the Vista vibrancy and Columbia’s Central Business District resurgence during the last year, NAI Avant reports. Lovelace states “recent success is attributed to the owner continuing to reinvest in the property and also the uniqueness of a Class A facility with ample surface parking, which has helped attract a diverse tenant roster.” The Lexington Medical transaction is the first and rather large move the hospital system has made into downtown Columbia. The 16,000 square foot office is now home to Vista Women’s Healthcare.
While Columbia’s industrial and rail hub once gathered dust, today the Vista’s rustic warehouses and mills enjoy new lives with music and entertainment venues, art galleries, Class-A office, delightful boutiques and award-winning restaurants. New and renovated buildings mesh rustic details with sleek, downtown style. NAI Avant forecasts strengthening demand in the Vista and predicts increasing synergy from the many proposed or underway developments in the immediate area. To name a few – USC Moore School of Business, USC Alumni Center, luxury student apartments, a hotel and imminent national retailer expansion plans forthcoming in the Vista. All validate the intensifying and likely permanent trend that people desire to live, work and play in strong urban core areas.
About NAI Avant
NAI Avant’s commercial real estate business is one of the largest in the Southeast. With over 65 professionals, the firm provides comprehensive brokerage, leasing, development, property and project management services. For nearly three consecutive decades, the group has had more of its brokerage professionals recognized as top producers or recipients of the top awards than any other firm in South Carolina. As a member of the NAI Global Network, NAI Avant is affiliated with over 350 offices and 5,000 professionals in 55 countries across the globe. NAI Global is the largest independent commercial real estate service provider worldwide and a wholly owned subsidiary of C-III Capital Partners. NAI Avant’s Property and Project Management Group currently manages a multi-million square foot portfolio of properties across South Carolina, North Carolina, and Georgia. Through its Avant Healthcare Division, the firm provides comprehensive services to hospitals, clinics, and physician groups. NAI Avant, founded in 1966, is headquartered in Columbia, SC with an office in Charleston, SC. Find out more about NAI Avant and its services at www.naiavant.com. Be sure to follow us on Twitter @NAI Avant and like us on Facebook.
Contact: Bruce Harper, President and Broker-In-Charge, Columbia Office, 803-744-9805, or firstname.lastname@example.org
Former Coca-Cola CEO to speak at USC on October 8th
The College of Hospitality, Retail and Sport Management welcomes Mr. Neville Isdell, former chairman and CEO of The Coca-Cola Company, to the Dean’s Executive Lecture Series on Monday, October 8, 2012.
Mr. Isdell’s lecture will address his latest book Inside Coca-Cola: A CEO’s Life Story of Building the World’s Most Popular Brand. The event begins at 6pm in the Russell House Ballroom and is open to the public and free of charge. A book signing with Mr. Isdell will immediately follow. University of South Carolina Student Government is an event sponsor.
A native of Ireland, Mr. Isdell spent 43 years with Coca-Cola before retiring in 2009. He was a key player in taking the world’s largest beverage company to new heights, expanding on its proud legacy of corporate responsibility by embedding sustainability throughout every facet of the organization and helping ensure its role as a community-connected 21st century enterprise.
Mr. Isdell chairs the Investment Climate Facility and is the incoming chair for the World Wildlife Fund. He is a member of the Board of Directors of General Motors and is a past recipient of the Clinton Global Citizen Award. He received a bachelor’s degree in social sciences from the University of Cape Town and is a graduate of the Harvard Business School PMD. He is the recipient of four honorary degrees.
Mr. Isdell’s daughter, Cara Isdell Lee, and son-in-law, Zak Lee, are both alumni from the College of Hospitality, Retail and Sport Management.
Coca-Cola has been in business for 126 years and is one of the world’s most successful brands. The Atlanta, Georgia based company has 146,200 employees worldwide and sells beverage products in more than 200 countries. Coca-Cola has topped the “Best Global Brands” list more than a dozen times.
For additional information regarding the Oct. 8 event with Mr. Neville Isdell, call 803-777-6491.