ATLANTA (July 15, 2016) – SRS’ Southeast Investment Sales team exclusively marketed and brokered the sale of a single-tenant net leased Virginia College Campus in Columbia, S.C. The property, which is currently occupied by Virginia College, is located at 7201 Two Notch Road; which is situated north of the intersection of Two Notch Road and Columbia Mall Road, consisting of 45,191square feet on 4.604 acres of land. The seller, CMS Edu II Columbia, L.P., sold the property to Ace One Realty LLC on July 8, 2016 for $7,185,000.
Virginia College, a wholly owned subsidiary of Education Corporation of America, is a private, proprietary institution of higher education committed to offering diplomas, associate’s degrees, bachelor’s degrees, and master’s degrees. Virginia College offers certificates, diplomas, and degrees in the areas of health and medical, information technology, business, office management, and criminal justice. Virginia College is accredited by the Accrediting Council for Independent Colleges and Schools (ACICS).
“The Columbia location is a strong campus for Virginia College and is well-positioned in the heart of the Palmetto Health System, offering graduating students one of several avenues through which to seamlessly transition into the local workforce,” said John Topping Jr., associate for SRS’ Southeast Investment Sales Team. “Having sold four Virginia College assets, we continue to see buyers recognizing the value in these high yield opportunities featuring long term leases with annual increases, which present a strong alternative to the exceedingly low cap rates driving the current net-lease market.”
John A. Topping, Jr., associate, and Robert Drake, senior analyst, in the SRS Atlanta Office, represented the seller, CMS Edu II Columbia, L.P., in the transaction. The buyer was represented by Ben Hamd, senior advisor, with Triple Net Investment Group in this transaction
About SRSReal Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 20 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, investment services and management services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit srsre.com.