SK Investment Group, a division of Atlanta-based SK Commercial Realty, teamed with Charleston-based Weaver Capital Partners to buy Rivergate I and II on Lacross Road in North Charleston for $21 million. The two office buildings total 116,409 square feet and were 93 percent occupied at closing.
Why this matters here
A 93 percent occupied office park trading at that price says outside money still likes North Charleston, and a local partner is in the deal. For the restaurants, salons and service shops around Lacross Road, steady office occupancy is the difference between a weekday lunch rush and an empty counter.
First reported by scbiz.com.
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