NAI Charleston Announces Sale to Middle Street Partners
Thursday, August 13th, 2020
NAI Charleston, a leading full-service commercial real estate firm headquartered in Charleston, SC announced the sale of 741 Meeting Street for $2,625,000 to Middle Street Partners, a real estate investment and development company focused on multifamily investments in the Southeastern U.S.
This sale includes 4 parcels (737, 739, and 741 Meeting Street and 6 Riker Street) totaling approximately half an acre in the Half Mile North area, a mixed-use community on Charleston’s Upper Peninsula favored by tech and design companies. 741 Meeting Street is within walking distance of a foodie paradise with a wealth of outdoor dining, including Home Team BBQ, Edmunds Oast, Lewis Barbecue and Butcher and Bee, as well as Blue Acorn and other Upper Peninsula developments. The site boasts major visibility from 1-26 and easy access to 1-26, downtown Charleston and Mount Pleasant. There is currently about 7,000 SF office/warehouse space on the property as well as generous off-street parking. The new development is planned to break ground in October 2020.
“It is great to see redevelopment taking place in the NOMO district during this time of uncertainty,” said Jack Owens, broker at NAI Charleston, who represented the seller in this transaction, 741 Meeting, LLC.
741 Meeting Street will be a new 30,000 SF commercial building located on Meeting Street at the western terminus of Williman Street. Designed by LEED-certified architect, Laura Middleton, and LEED-certified designer, Blake Middleton, of Charleston based The Middleton Group Architecture Studio - in conjunction with Sottile and Sottile of Savannah - the goal of the design of 741 Meeting Street was to create a timeless, durable architectural expression with a transitional character that acknowledges both the industrial and residential character of its surroundings. The multi-use building will re-introduce street level traffic with a restaurant and commercial space on the ground floor and office spaces on the second and third floors.
NAI Charleston is consistently ranked as one of the top commercial real estate firms in Charleston whose industry experts have over a century of combined experience in the local and regional commercial real estate industry and over $1 billion in total transaction volume.