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3476 Stateview Boulevard

Foundry Commercial Acquires Office Campus In Fort Mill For $15.8 Million With CBRE Brokers
SOLDOffice

Foundry Commercial Acquires Office Campus In Fort Mill For $15.8 Million With CBRE Brokers

3476 Stateview Boulevard & 3480 Stateview Boulevard

$15,800,000

$23/SF

Building Size

676,602 SF

Asset Type

Office

Closing

Jul 8, 2024

AI

An office campus located at 3476-3480 Stateview Boulevard in Fort Mill, SC, has been sold for $15.8 million. The property encompasses 338,301 square feet, translating to a price per square foot of approximately $47. The buyer intends to redevelop the asset into a 465,000-square-foot industrial park.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $15,800,000
  • Square Footage: 338,301
  • Address: 3476-3480 Stateview Boulevard
  • Market: Fort Mill, SC
  • Price Per Square Foot: $47
  • Buyer: Foundry Commercial
  • Broker Representatives: Matt Smith, Patrick Gildea & Robert Hardaway - CBRE

This transaction was facilitated by the brokerage team at CBRE, which includes Matt Smith, Patrick Gildea, and Robert Hardaway. They represented the buyer, Foundry Commercial, in this significant acquisition aimed at future redevelopment in the region.

Players

Patrick Gildea

CBRE

Broker

$479.1M

vol

17 deals

Broker

Fort Mill Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.00%

Cash-on-Cash

-0.29%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93