Avison Young tapped to market mixed-use trophy property in historic Charleston, SC
February 5, 2024
Charleston Financial Center is strategically located within the financial and commercial hub of the SC coastal region
Charleston, SC – Avison Young announces today it has been tapped to exclusively market Charleston Financial Center located at 200 Meeting Street in Historic Downtown Charleston, SC. Built in 1991, the four-story mixed-use property totals 145,407 square feet (sf) and includes an attached, 94,236-sf 355-car garage.
The Avison Young team responsible to marketing the property includes Principals James Nelson, Erik Edeen, and Chris Fraser, Senior Vice President Leslie Fellabom and Senior Associate Ed Nelson.
Nestled in a prime location surrounded by a blend of cultural heritage and modern conveniences, the asset holds a strategic, high barrier to entry position in the financial and commercial hub of South Carolina’s coastal region. One of the largest buildings in Historic Downtown Charleston, 200 Meeting Street spans nearly an entire city block and is a short walk to King Street's renowned retail corridor and Charleston City Market as well as a variety of other hotel, dining, shopping and entertainment amenities.
“This is the first time this generational asset has been on the market,” said James Nelson. “With in-place rents below market and an approximately 44% vacancy, the property offers a buyer the opportunity to add value through bringing leases to current rents and lease-up of the available space. The mixed-use property also has the potential for a residential condo conversion as demand continues to elevate for residential units in this urban area.”
Boasting a growing population, a technically skilled workforce, and global marketplace connections, Charleston provides an ideal backdrop for this investment opportunity. The area has exhibited a stable and growing real estate market, making it an attractive location for property investment. The combination of historical charm and modern amenities contributes to the area's resilience in the real estate market. The unique blend of historical charm, cultural richness and modern conveniences make it an appealing destination for businesses, residents, and investors seeking a vibrant and well-connected community.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2023 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 12 consecutive years.