200 Meeting Street
200 Meeting St
Charleston, SC 29401
Highlights
- Below-Market Average In-Place Office Rents:
- - Over 64,000 RSF of vacant office space allows for immediate upside through lease-up
- - Current in-place rents average $28/SF, a 24% discount to market rates
- - 2-year WALT allows for new ownership to further capitalize on increased future rents
- Investment Grade Credit Tenants
- - Bank of America: Moody’s (A1) & Fitch (AA-)
- - Morgan Stanley: Moody’s (A1) & Fitch (A)
- - New York Life: Moody’s (Aaa) & Fitch (AAA)
- Potential for Numerous Business Plans
- - Buyers can unlock immediate upside through a capital improvement plan and the resulting lease-up of vacant spaces
- - Vacancy also allows for potential residential conversion
- Market Demand
- - Current tenants include legal, insurance and financial services firms
- Flexible Floor Plan Availability
- - Multiple vacant suites are adjacent to each other, allowing for potential combinations and flexibility in size and layouts
- Prime Downtown Location
- - Situated across from the iconic Charleston Place hotel with high-end ground floor retail generating significant pedestrian activity year round
- - One block from the world-renowned King Street shopping corridor, with strong retail tenants including Apple, St. John, Gucci, Louis Vuitton, Target, Brooks Brothers, Golden Goose, Johnny O and J.Crew
- - Short walk from Charleston City Market, a national historic landmark, converted to an open-air shopping and dining destination
Description
Avison Young, serving as the exclusive agent, is excited to present the sale of 200 Meeting Street – a 4-story mixed-use property with an attached 355-car garage, centrally located in historic Charleston, South Carolina. Nestled in a prime spot surrounded by a blend of cultural heritage and modern conveniences, this property holds a strategic position in the financial and commercial hub of the SC Coastal Region. Boasting a growing population, a technically skilled workforce, and global marketplace connections, Charleston provides an ideal backdrop for this investment opportunity. The property's average in-place office rents, currently 24% below market value, offers significant potential for increased returns through capital investment and a revamped marketing and lease-up strategy. Additionally, the existing vacancy opens up possibilities for a coveted residential conversion in this highly desirable historic district.
Charleston
