CBRE Arranges $16.75 Million Sale of Boutique Office Building in Historic Downtown Charleston

CBRE arranged the $16.75 million sale of 174 Meeting, a 47,113 sq. ft. Class A office building in Historic Downtown Charleston, S.C. to Highland Ventures.

Matt Smith, Patrick Gildea, Grayson Hawkins, Robert Hardaway, Charles Carmody, and Ryan Carmody of CBRE represented the seller, Cobalt Property Group. Insite Properties advised Highland Ventures during this transaction.

Constructed in 2014, this boutique building is situated near the intersection of Meeting and Market Streets on Charleston’s amenity-filled Peninsula. It features three levels of office space above a ground-level bank, lobby and parking. The building was designed with energy efficient systems and environmentally sensitive materials.

174 Meeting was fully occupied at the time of the sale to Truist Bank, Thrive Co-Working, Stifel Financial Corp. and Evening Post Industries.

“With tenant’s focused on flight to quality in today’s office climate, 174 Meeting offers a rare new construction option in Charleston’s amenity rich environment,” said CBRE’s Smith. “174 Meeting will continue to maintain its position as a best-in-class asset in Charleston’s highest barriers to entry submarket.”

Located at 174 Meeting St., the building has a Walk Score of 96, with over 50 restaurants, over 2,300 hotel rooms, and retail options within a half-mile.

Charleston’s Peninsula/CBD is one of the top-performing submarkets in Charleston, with 7.6 percent average vacancy, and 3 percent rental rate growth since 2016, according to CBRE.