HOT PROPERTIES: Columbia tract to become 300-home development

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Craig Waites of Colliers South Carolina brokered the sale of a 37.4-acre tract of land at the intersection of Interstate 20 and Spears Creek Church Road in northeast Columbia. Colliers represented the seller, Spears Creek Quadrant Partners.

The property was sold to Spears Creek Towns for development into a 300-townhome residential facility, according to a Colliers news release. The buyer will partner with Colliers to re-sell approximately three acres of the original parcel for retail development. The three available acres are located off Spears Creek Church Road. The firm says the space would be appropriate for a convenience store, fast food restaurant, hotel, car dealership or storage facility.

The site on Spears Creek Church Road is in northeast Columbia, one of the fastest-growing residential and commercial submarkets in the Columbia MSA, according to Colliers. The property is located adjacent to Fort Jackson, which sees 44,000 trainees and approximately 15,500 stationed personnel annually. Plans have been approved and funded for widening Spears Creek Church Road from two to five lanes of traffic to accommodate the area’s rapid growth, the release said.

Waites is a managing director at Colliers, specializing in land brokerage, planning and the entitlement process to enhance value for landowners.

Other commercial real estate transactions included:

Peyton Bryant of Trinity Partners represented the landlord in the leasing of a 6,818-square-foot office space at 1225 Lady St. in Columbia.

Robbie Cook of Trinity Partners represented the landlord in the leasing of an 8,283-square-foot office space at 1350 Main St. in Columbia.

Nick Stomski, Jake Nidiffer and Ryan Causey of Trinity Partners represented the tenant in who leased a 1,500-square-foot industrial space at 1971 Legrand Road in Columbia.

Broker-in-charge Sam DeWees represented the buyer in a triple-net leased transaction. This investment property, leased by Wendy’s, was purchased for $3,212,124 (5% CAP) as a long-term real estate investment.

DeWees Real Estate Group, a full-service commercial real estate firm handled the lease of 2400 Two Notch Road in Columbia. Broker-in-charge Sam DeWees represented the tenant in this transaction. The 2,710-square-foot building was leased to Success By Steps Early Learning Academy and will open for business in the coming months. This will be their fourth location around the Midlands.

Real estate professionals can submit news of transactions to rnorton@scbiznews.com.