RealOp Investments Sells Columbia’s Parklane Centre
Jan 31, 2019 01:42PM
By Kathleen Maris
RealOp Investments recently sold Parklane Centre for $4.16 million to SF Partners LLC out of Miami.
The 47,810 square-foot office park sits on 5.25 aces in a prime area of Columbia located on Parklane Road between I-20 and I-77. It was built in 1988 and renovated in 2005. The building is about 95 percent leased with ten tenants.
Kyle Putnam, RealOp’s chief investment officer, said the company had received numerous offers on the property before deciding to sell in January. Marcus & Millichap’s Andrew Margulies, Charles Gallagher, and Harrison Creason represented RealOp, which originally purchased the property in December 2014.
“When we purchased the property our goal was to increase occupancy, drive rent growth and exit profitably,” Putnam said. “We have accomplished that.”