KBS Realty Advisors announced the acquisition of Main & Gervais, a Class A office property located at 1221 Main St. in Columbia. The property features 18 stories, a seven-level parking deck and 186,605 rentable square feet.
According to a report in The State newspaper, the building was sold for $65 million.
“Main & Gervais is the best-in-class office building in Columbia and we know it will be a strong addition to the KBS’ portfolio,” said Allen Aldridge, KBS Senior Vice President and Asset Manager. “Columbia has been named one of the fastest growing cities in the U.S. and offers strong population growth and a skilled, educated labor force, creating an ideal business location and quality of life for residents and employees.”
The property is currently 98% leased, and anchored by Edens, McNair Law Firm and NBSC Bank. Other tenants include the law firms of Parker Poe, Rogers Townsend & Thomas, and Womble Carlyle, along with The Oak Table restaurant.
“We are excited to gain a footprint in Columbia by acquiring what is considered to be the premier office building in the heart of an amenity-rich market,” said Marc DeLuca, KBS Eastern Regional President. “The property features an irreplaceable location with an impressive rent roll. The property is also a short walk from the University of South Carolina which has consistently ranked among the top schools in the country for International Business Studies.”
Main & Gervais is located directly across from the Statehouse.
Main & Gervais is the sister building to Bank of America Tower in Raleigh, N.C., an office property developed by KBS in 2016. Both buildings were designed by the architectural firm of Duda Paine.