Mid-Year Sales On Pace with 2013 Record
Commercial property sales in the Charleston region totaled $270 million for the first six months of 2014, just behind the mid-year 2013 pace of $275 million. The darling of the lending community, multi-family, led the way again with $110 million in sales followed by shopping centers at $54 million and office buildings at about $21 million. The largest transaction thus far in 2014 was the sale of The Boulevard, a new multi-family/retail development in Mt. Pleasant to Heitman for $66 million. By the end of the year, odds are we will beat the record-setting 2013 aggregate of over $550 million.
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