Forum II Village at Sandhill, an 83,139-square-foot shopping center in northeast Columbia, has been sold for $11.7 million in a deal brokered by commercial real estate brokerage firm Marcus & Millichap.
Tenants include HomeGoods, TJ Maxx, Old Navy, Rue 21, and Shoe Carnival. Also included in the sale is the adjacent 1.88-acre parcel, according to a news release.
Forum II Village at Sandhill is located at 321 Forum Drive and was built in 2006.
Lori Schneider, the firm’s executive managing director of investments, and investment specialist David Gant had the exclusive listing to market the property on behalf of the seller, a private investor.
“Strong national tenancy and low cost per square foot attracted offers similar to the high-demand grocer anchored centers,” Schneider said in the release. “Even in today’s environment, prime TJ Maxx anchored center would generate interest at high levels.
The buyer, a local private investor, was represented by Marcus & Millichap’s Harrison Creason and Andrew Margulies.
“It is a busy retail area and the tenants in this center have a solid track record of success in this location,” Creason said. “This was an ideal opportunity for the local buyer as they know this location well and it satisfied a portion of their 1031 exchange.”
Benjamin Yelm, the firm’s broker of record in South Carolina, assisted in closing the transaction.