Centennial Corporate Center
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||Net Leased Investment (NNN), Investment
Overview / Comments
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Centennial Corporate Center is a four building, single-story, Class B office complex on 24.6 acres in Aiken, SC. Constructed in 1991, the Property totals 205,000 square feet. Three of the four buildings are fully leased, single-tenant buildings, while the fourth building is currently vacant and set up for multi-tenant occupancy. The current tenant roster is comprised of national tenants including UPS Supply Chain Solutions, AECOM and SCANA Energy Marketing. Ample surface parking is available on-site, with 1,540 spaces providing a parking ratio of 7.5 spaces per 1,000 sf. The Property offers investors a rare value-add opportunity. Currently there is 51,250 sf of vacancy and the weighted average rent of $11.14/ sf is below the submarket average asking rent of $14.29/sf. With a weighted average remaining lease term of 33 months, and a lack of competing properties in the immediate vicinity, the Property is well positioned to capitalized on the low submarket vacancy rates within a highly amenitized and affluent area. The Property is well landscaped and has been professionally managed and maintained.
Attachments & Media
||The Aiken submarket is part of the greater Augusta market, which is commonly referred to as the Augusta-Richmond County, GA-SC Metropolitan Statistical Area. The MSA includes five counties in eastern Georgia including Richmond, Burke, Columbia, Lincoln, and McDuffie and two counties in South Carolina — Aiken and Edgefield. As of the 2010 Census, the area had a population of 556,877 and was estimated to be 583,632 in 2014. The area benefits from being almost equidistant between the state capitols of Georgia (Atlanta) and South Carolina (Columbia), and strategically located near I-20, the major connector between these two employment centers. A significant concentration of nationally recognized retailers and hotels are located within close proximity of Centennial Corporate Center.
From Aiken, take Whiskey Road South approx. 2.7 miles . Go Left on Corporate Parkway and then Right on S Centennial Avenue.
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