An affiliate of Texas-based Sapient Advisors LLC as purchased the Berkeley Building, a 74,069-square-foot Class A office building located at 200 Center Point Circle in the St. Andrews submarket.
Trinity Partners’ Paul Hartley, Roger Winn and Braden Shockley represented building ownership in the transaction in collaboration with Trinity’s Charlotte-based investment sales team. Hartley, Winn and Shockley have been retained by the building’s new owners as the property’s leasing team.
The new owners have begun implementing a capital improvement plan that will include several building upgrades, including enhancing common areas and the shared tenant conference/training room, according to a news release from Trinity Partners.
“After working together through the successful sales transaction, we are excited to have earned the opportunity to work with new ownership and continue leasing what we believe is the finest Class-A suburban office building in the entire Columbia market,” Hartley said in the release. “Based on current activity levels, our expectation is to be 95% leased by the end of 2020.”
The three-story building is located at the intersection of interstates 26 and 20 and occupied by tenants including FDIC, Transamerica and Hubbell Power Systems.
The Berkeley Building is the first acquisition in the Columbia metro market for Sapient Advisors, which owns several buildings in Charleston.
“We’ve been interested in the Columbia market for some time, waiting for the right opportunity to make our first investment in the region,” Chris Weber, principal of Sapient Advisors, said. “The Berkeley Building’s impressive tenant roster is a testament to the quality of the building and the office park. We’re very pleased we were able to acquire such a quality building in a proven submarket and look forward to the continued expansion of our footprint in South Carolina.”