Healthcare Real Estate-Focused Private Equity Firm Acquires Fully Occupied Office Building in Columbia, South Carolina
CHICAGO, January 24, 2023 – Cushman & Wakefield announced today that the firm was involved in the sale of the South Carolina Oncology Associates Cancer Center.
Cushman & Wakefield’s Gino Lollio, Travis Ives, Philip Vann and Drew Kirkpatrick represented the seller.
“With its market-dominant oncology practice and single-tenant lease, this property attracted strong interest from potential investors,” said Lollio, who, along with Ives and recent addition, Sushil Puria, lead Cushman & Wakefield’s Healthcare Capital Markets Team nationally. “It would attract high demand in any environment, but current macro-economic uncertainty and the quality of the property and occupier heightened its appeal. We anticipate that will be an ongoing trend for 2023 as investors increasingly seek out well-performing, low-risk Class A healthcare assets.”
For its part, South Carolina Oncology Associates is the only comprehensive cancer treatment center in the state that provides medical, radiation and gynecological oncology plus important patient support services like diagnostic radiology, infusion therapy, hospice and research – all under one roof. Established in 1978, the oncology practice and its 18 physicians bring state-of-the-art radiation technology, diagnostics and treatment together to increase comfort and help reduce the stress cancer brings to patients and their families.
Located at 166 Stoneridge Drive in Columbia, the three-story building totals approximately 119,945 square feet and is fully leased by South Carolina Oncology Associates (SCOA). The 10.3-acre location boasts a five-mile radius population of over 162,000 residents with an average household income exceeding $69,000. Furthermore, Columbia’s population is expected to grow approximately by 20,000 more residents over the next five years.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
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