Suburban Columbia Power Center off I-26 | 1316-1324 Bush River Rd
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Suburban Columbia Power Center off I-26 1316-1324 Bush River Rd
70% Leased Retail Building Online Auction Sale Columbia, SC 29210
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Investment Highlights
- 69.9%+ occupied power center with strong in-place cash flow and immense operational upside through a strategic lease-up.
- Bush River Plaza has an impressive 4.6 space per 1,000 SF parking ratio (~ 199 spaces), ensuring easy access and parking for shoppers and employees.
- Columbia's local economy, bolstered by the government & military, has diversified to include finance, logistics, adv. manufacturing, & healthcare.
- Over 99 feet of frontage on Bush River Road and positioned near the Interstate 26 intersection, exposing the property to over 136,000 cars daily.
- Situated in a major retail corridor with nearly 300,000 square feet of surrounding shopping options, creating a synergistic retail environment.
- Close to the University of South Carolina, the state's premier higher education institution with over 35,000 students and 2,000+ staff.
Executive Summary
Marcus & Millichap is pleased to exclusively present a rare investment opportunity to acquire a prominent power center in Columbia, South Carolina's dynamic St. Andrews submarket. The Bush River Village at 1316-1324 Bush River Road was constructed in 2007 on an expansive +/- 5.55-acre lot. The property is highly visible from Bush River Road with over 99 feet of frontage and is positioned near the intersection with Interstate 26, ensuring steady traffic counts exceeding 136,000 vehicles per day on nearby roads. Bush River Plaza was designed for convenience and accessibility as it has an excellent parking ratio of 4.6 spaces per 1,000 square feet, catering well to the car-dependent suburban Columbia population as well as visitors from surrounding areas. Currently, the property is 69.94% occupied and presents immense value-add potential through a strategic lease-up.
The Bush River Plaza is positioned in the St. Andrews submarket of Columbia, South Carolina. Market rents in the St. Andrews submarket have changed by 3.1% year-over-year, and market rents among power center properties have changed by 2.9% in the past year. The Columbia metro contains the state capital and the University of South Carolina. As a result, the market has a growing and diverse economic base with a strong foundation in government, education, and insurance. The University of South Carolina has over 35,000 students and a staff of 2,000+ professionals, providing a constant stream of customers. Roughly 19% of the employment base works for the state government, supporting various programs throughout South Carolina. The local economy has diversified from government, military and manufacturing to include finance, logistics, advanced manufacturing, healthcare, and insurance. Major employers in the healthcare, government, and education sectors include Palmetto Health, Blue Cross Blue Shield, and the University of South Carolina. The financial and insurance sectors are represented by Colonial Life & Accident Insurance Company, AgFirst Farm Credit Bank, and Aflac. Manufacturers with significant operations in the metro include Schneider Electric, International Paper, Michelin, Westinghouse Electric, and Trane. Columbia is also home to Fort Jackson, the US Army's largest, most active initial entry training installation, as well as a United Parcel Service southeastern regional hub at the Columbia Metropolitan Airport. The city of Columbia itself is the second-most populous city in South Carolina with over 141,000 residents. Overall, the metro's 851,000+ residents are spread among six counties in the central portion of the state.
The Bush River Plaza at 1316-1324 Bush River Road is an excellent investment opportunity with in-place cash flow, strong operational upside, and a highly desirable location just north of Downtown Columbia, South Carolina.
The Bush River Plaza is positioned in the St. Andrews submarket of Columbia, South Carolina. Market rents in the St. Andrews submarket have changed by 3.1% year-over-year, and market rents among power center properties have changed by 2.9% in the past year. The Columbia metro contains the state capital and the University of South Carolina. As a result, the market has a growing and diverse economic base with a strong foundation in government, education, and insurance. The University of South Carolina has over 35,000 students and a staff of 2,000+ professionals, providing a constant stream of customers. Roughly 19% of the employment base works for the state government, supporting various programs throughout South Carolina. The local economy has diversified from government, military and manufacturing to include finance, logistics, advanced manufacturing, healthcare, and insurance. Major employers in the healthcare, government, and education sectors include Palmetto Health, Blue Cross Blue Shield, and the University of South Carolina. The financial and insurance sectors are represented by Colonial Life & Accident Insurance Company, AgFirst Farm Credit Bank, and Aflac. Manufacturers with significant operations in the metro include Schneider Electric, International Paper, Michelin, Westinghouse Electric, and Trane. Columbia is also home to Fort Jackson, the US Army's largest, most active initial entry training installation, as well as a United Parcel Service southeastern regional hub at the Columbia Metropolitan Airport. The city of Columbia itself is the second-most populous city in South Carolina with over 141,000 residents. Overall, the metro's 851,000+ residents are spread among six counties in the central portion of the state.
The Bush River Plaza at 1316-1324 Bush River Road is an excellent investment opportunity with in-place cash flow, strong operational upside, and a highly desirable location just north of Downtown Columbia, South Carolina.
Data Room Click Here to Access
- Purchase Agreement
Market Analytics Click Here to Access
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Market Sale Price per SF
Columbia - SC USA
Market Cap Rate
Columbia - SC USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Retail
Property Subtype
Storefront
Building Class
B
Year Built
2007
Percent Leased
70%
Tenancy
Multiple
Building Height
1 Story
Lot Size
5.60 AC
Parking
199 Spaces (4.61 Spaces per 1,000 SF Leased)
Frontage
99 FT on Bush River Rd
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 1st Floor
- 1,600 SF
- Retail
- -
- Now
| Space | Size | Space Use | Position | Available |
| 1st Floor | 1,600 SF | Retail | - | Now |
1st Floor
| Size |
| 1,600 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
About St. Andrews
St. Andrews is a dense suburb located close to Columbia’s city center. The neighborhood is located along Interstate 26, which connects the area to Downtown Columbia in just a 15-minute drive. Going Southbound, Interstate 26 also provides a direct line to Charleston, while going Northbound it leads to Spartanburg and Asheville, North Carolina. Interstate 20 also runs through St. Andrews, connecting the locale to Augusta and Atlanta. Pockets along these two interstates are well occupied by both residents and retailers.
Strong connectivity aside, retailers here also benefit from a growing local population. St. Andrews is in Lexington County, which is among the fastest-growing areas in the Midland Region. Additionally, about 20% of adults hold a bachelor’s degree or higher here, and median household income is roughly in line with the metro-wide figure.
As a well-connected and fast-growing area in South Carolina’s capital city, there are a number of national chains located here such as Costco, Sam’s Club, Target, and Walmart. Notable employers here include Wells Fargo and Prisma Health.
Investors are attracted to the area’s connectivity and its recent population growth trends. Rents here are in line with the metro-wide average and have increased at one of the fastest rates in Columbia over the past year.
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
4,979
57,274
137,310
2020 Population
4,950
55,882
134,017
2029 Population
5,184
60,054
144,713
2024-2029 Projected Population Growth
4.1%
4.9%
5.4%
Daytime Employees
6,655
41,185
133,496
Total Businesses
547
4,099
13,155
Average Household Income
$56,304
$60,824
$64,661
Median Household Income
$44,184
$47,298
$49,046
Total Consumer Spending
$50.3M
$557.9M
$1.4B
Median Age
34.9
36.5
35.3
2024 Households
2,492
24,791
59,120
Percent College Degree or Above
19%
18%
18%
Average Home Value
$197,631
$179,836
$199,597
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 003697-07-025 | Improvements Assessment | $176,932 |
| Land Assessment | $31,519 | Total Assessment | $208,451 |
PROPERTY TAXES
Parcel Number
003697-07-025
Land Assessment
$31,519
Improvements Assessment
$176,932
Total Assessment
$208,451
Sale Advisors
Sale Advisors
Salim Valiani, First Vice President, Investments
(407) 620-2416
Contact
Salim Valiani is a licensed agent with over 20 years of success in Real Estate with diverse experience in Commercial Development, Portfolio Investing and Negotiation. Salim Valiani, is a single and multi-tenant retail property specialist in the firm’s Orlando office. As a single and multi-tenant property specialist, Salim exclusively represents buyers and sellers of investment properties throughout the Florida area. Since 2019, Salim has closed real estate transactions valued at around $120,000,000 and close to $400,000,000 during his career.
His vision is predicated upon a commitment to work closely with his clients to further optimize their financial returns. He places significant emphasis on providing a truly consultative experience that incorporates meticulous market research and thorough, timely execution.
Salim has achieved numerous awards and distinctions, including Top Commercial Real Estate Broker for number of transactions closed in a year for 4 years in a row with his previous company. Salim graduated with an undergraduate degree with focus on Business Strategy and also holds a real estate license in the State of Florida.
Along with his broad skill set in Real Estate, Salim has built a team of other diversely knowledgeable individuals each with significant experience and education in their related fields. When not leading his team to new heights, Salim is actively involved in community service and social entrepreneurship activities nationally.
His vision is predicated upon a commitment to work closely with his clients to further optimize their financial returns. He places significant emphasis on providing a truly consultative experience that incorporates meticulous market research and thorough, timely execution.
Salim has achieved numerous awards and distinctions, including Top Commercial Real Estate Broker for number of transactions closed in a year for 4 years in a row with his previous company. Salim graduated with an undergraduate degree with focus on Business Strategy and also holds a real estate license in the State of Florida.
Along with his broad skill set in Real Estate, Salim has built a team of other diversely knowledgeable individuals each with significant experience and education in their related fields. When not leading his team to new heights, Salim is actively involved in community service and social entrepreneurship activities nationally.
Yassin Benkabbou, Associate
(407) 557-3804
Contact
Yassin Benkabbou is an associate of Marcus & Millichap's National Retail Group and Net Leased Properties Group. He has been a commercial real estate agent and a member of ICSC (International Council of Shopping Centers) since 2017.
Yassin has a Bachelor’s Degree in Real Estate and Finance from the University of Central Florida (UCF). Additionally, Yassin holds a salespersons license in and Florida.
Prior to Marcus & Millichap, Yassin served as as a Leasing Coordinator at Atrium Management one of the largest property management firms in the Central Florida area, there he gained an extensive experience with commercial real estate property transactions. Yassin also served Vice President of the Real Estate Club at UCF, where he was able to build strong relationships with industry professionals in the local and regional market.
Yassin commits to maintain the highest level of service to his clients based on innovated solutions and problem solving. His hard working ethic and interpersonal skills make him a valuable advisor to his clients.
Yassin has a Bachelor’s Degree in Real Estate and Finance from the University of Central Florida (UCF). Additionally, Yassin holds a salespersons license in and Florida.
Prior to Marcus & Millichap, Yassin served as as a Leasing Coordinator at Atrium Management one of the largest property management firms in the Central Florida area, there he gained an extensive experience with commercial real estate property transactions. Yassin also served Vice President of the Real Estate Club at UCF, where he was able to build strong relationships with industry professionals in the local and regional market.
Yassin commits to maintain the highest level of service to his clients based on innovated solutions and problem solving. His hard working ethic and interpersonal skills make him a valuable advisor to his clients.
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
John Artozqui
Contact
Auctioneer License:
Ten-X Samantha Kristine Corbat RE Brkr 21233. Ten-X Auction Firm 4085. Arlene Richardson Auctioneer 4820
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Salim Valiani -
Yassin Benkabbou -
Marcus & Millichap
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Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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