East West Capital has acquired the Dutch Center in Columbia, South Carolina. The 4 story building, located at 810 Dutch Square Boulevard, includes 101,982 sf of office and retail space on over 5 acres of land.
“Dutch Center is in the St. Andrews area, which is the best suburban submarket of Columbia. It sits in an ideal location near two major interstates and near downtown”, said David Moritz, Managing Partner. “The building offers high quality office space and ample parking at a great value and thus attracts a multitude of tenants.”
Dutch Center is currently over 90% leased to a strong collection of local and national tenants, many of whom have been there for decades. Major tenants include the State of South Carolina, FEMA and Palmetto Utility Protection Service.
Originally built in 1975 as modern office space, the building has been well maintained and is currently used as office and retail space due to its great location near downtown Columbia and major transportation networks. The property has direct access to both I-20 and I-26 and sits across from the Dutch Square Mall. Downtown Columbia is 4 minutes away. It offers ample parking, with 418 parking spaces.
“We think now is the ideal time to purchase the property”, said Brian Nelson, Managing Partner. “We believe there is great value in the building and that the Columbia market is in its recovery stage. By immediately making some cosmetic improvements to the building, we will continue to make it a location of choice for small tenants.”
Directly across the street from 810 Dutch Center is the Dutch Square Mall, which when opened in 1970, was considered the largest mall in the Carolinas. It houses more than 40 stores and restaurants including an AMC movie theatre, and it is expected to be repositioned.
The acquisition of Dutch Center is East West Capital’s sixth office building acquisition in the Carolinas.