CBRE Arranges $13.8 Million Sale of Flex Property in Columbia, South Carolina

CBRE has facilitated the $13.8 million sale of a three-building 98,386-sq.-ft.-flex property in Columbia, South Carolina to Denholtz.

CBRE’s Matt Smith, Patrick Gildea, Robert Hardaway, Aaron Dupree and Marie Diekmann represented the seller, CB Equities, in the transaction.

CBRE brokered CB Equities' acquisition of the property for $10.5 million in May 2022 before selling the property on behalf of CB Equities for $13.8 million in February 2025.

The property, 20/21 Business Center, is located at 100, 200, 300, 400 NE Drive, 6904 N Main Street and Frontage Road, and consists of three buildings and three vacant land parcels on 17.64 acres. The highly functional flex asset features 17 dock doors, 19 drive in doors, business park setting, opportunity to expand and interstate visibility. The property is 98 percent leased and features a diverse group of tenants.

“Supply remains constrained in functional flex product across the Southeast,” said Smith with CBRE.  “Construction costs have muted new deliveries, particularly in smaller markets, and existing assets have benefited from significant rental rate growth over the last few years. The fundamentals are incredibly attractive in this asset class, driving a substantial amount of capital into the space.”

20/21 Business Center is in Columbia’s northeast submarket, located 15 minutes from the Central Business District and offers direct access to Interstate 20.