Marcus & Millichap Inc.
Marcus & Millichap Inc.
01/07/2024 | Press release | Distributed by Public on 01/07/2024 19:11
Marcus & Millichap Facilitates Sale of Prime Office Space to Adult Home and Day Care Center in Charleston
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Marcus & Millichap Facilitates Sale of Prime Office Space to Adult Home and Day Care Center in Charleston
July 01, 2024
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CHARLESTON, S.C., July 1, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 7445 Cross County Road, a 6,787-square-foot office property located in Charleston, South Carolina.
"The new tenant, Elite Home Care and Day Center, is a reputable provider of adult day care services and is rapidly expanding," says Ani Paulson, vice president investments. "Having started in the Greenville-Spartanburg area, they now have locations in Columbia, Georgetown and Myrtle Beach, with their latest expansion bringing quality and compassionate care for seniors and adults with disabilities to Charleston."
Paulson, investment specialist in Marcus & Millichap's Atlanta office, had the exclusive listing to market the property on behalf of the seller, John Price, a reputable lawyer in Charleston.
Paulson adds, "Despite having multiple medical groups chasing this deal, we chose to proceed with this buyer because they share our commitment to benefiting the community. This aligns perfectly with our mission to connect clients with opportunities that truly make a positive impact."
The office property is situated on 0.73 acres just off Ashley Phosphate Road, with daily traffic counts exceeding 73,2000 vehicles per day. Between 2010 and 2020, North Charleston experienced a significant population increase of over 15 percent, with a notable 20 percent rise in residents aged 65 and older, highlighting its growing appeal as a retirement destination. This growth is supported by the city's healthcare services, including new providers like Elite Home Care and Day Center.
"The new tenant, Elite Home Care and Day Center, is a reputable provider of adult day care services and is rapidly expanding," says Ani Paulson, vice president investments. "Having started in the Greenville-Spartanburg area, they now have locations in Columbia, Georgetown and Myrtle Beach, with their latest expansion bringing quality and compassionate care for seniors and adults with disabilities to Charleston."
Paulson, investment specialist in Marcus & Millichap's Atlanta office, had the exclusive listing to market the property on behalf of the seller, John Price, a reputable lawyer in Charleston.
Paulson adds, "Despite having multiple medical groups chasing this deal, we chose to proceed with this buyer because they share our commitment to benefiting the community. This aligns perfectly with our mission to connect clients with opportunities that truly make a positive impact."
The office property is situated on 0.73 acres just off Ashley Phosphate Road, with daily traffic counts exceeding 73,2000 vehicles per day. Between 2010 and 2020, North Charleston experienced a significant population increase of over 15 percent, with a notable 20 percent rise in residents aged 65 and older, highlighting its growing appeal as a retirement destination. This growth is supported by the city's healthcare services, including new providers like Elite Home Care and Day Center.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.