Marcus & Millichap : Arranges $4.25 Million Sale of UPS Office Building in South Carolina

AIKEN, S.C., March 19, 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 2031 S. Centennial Ave., a single-tenant office property located in Aiken, S.C., within the Augusta MSA. The property sold for $4,250,000.

"This is a mission critical location for UPS, making this a great opportunity for the buyer. Our seller was moving towards retirement hence the motivation to sell," said Ani Paulson, vice president of investments. "Because of the challenging traditional lending market, our seller agreed to a seller-financing structure, which enabled us to take this deal to the finish line smoothly and efficiently. We have closed numerous properties with such structures and plan to continue until the debt markets fully stabilize."

Paulson, investment specialist in Marcus & Millichap's Atlanta office, had the exclusive listing to market the property on behalf of the seller. Ben Yelm, Broker of Record in South Carolina, assisted in closing the transaction.

2031 S. Centennial Ave. totals 51,250 square feet and is situated on 4.49 acres. The property has been occupied by UPS Supply Chain Solutions, Inc. for 20 + years. The tenant is on a corporate NN lease with approximately three years of the term remaining. Located in a high-growth submarket of Augusta, the office is primely positioned in Centennial Park with other corporate tenants including Dominion Energy and Ahh Sunshine. The immediate surrounding area features numerous national retailers including Walmart, Home Depot, Kroger and Staples.