KBS Acquires Main & Gervais in South Carolina

8/3/17

KBS Realty Advisors of Newport Beach, California announced today the acquisition of Main & Gervais, a Class A office property located at 1221 Main Street in Columbia. The property features 18 stories, a seven-level parking deck and 186,605 rentable square feet.

Main & Gervais is conveniently located directly across from the South Carolina State House, with the surrounding area featuring an array of transportation options including three interstate freeways that converge in Columbia, passenger and freight rail service provided by CSX and Norfolk Southern, as well as passenger and air cargo facilities at Columbia Metropolitan Airport. The property is also just a half-mile walk to the University of South Carolina, the largest university in the state.

In addition to the rich location and unparalleled finish of the building, tenants benefit from a wealth of amenities, including an on-site restaurant, banking and fitness center. Located just two blocks from the Main & Gervais office building is The Congaree Vista, commonly referred to as “the Vista”. This burgeoning dining, entertainment and shopping district comprises multiple city blocks centered upon Gervais Street. The walkable area is home to many of the city’s preeminent restaurants, hotels and civic destinations. With over 45 restaurants and bars, 60 specialty shops and galleries and a diverse mix of businesses and services including the Colonial Life Arena and the Columbia Metropolitan Convention Center, “the Vista” helps to provide tenants with a strong work life balance.

“Main & Gervais is the best in class office building in Columbia and we know it will be a strong addition to the KBS’ portfolio,” KBS Senior Vice President and Asset Manager, Allen Aldridge. “Columbia has been named one of the fastest growing cities in the U.S. and offers strong population growth and a skilled, educated labor force, creating an ideal business location and quality of life for residents and employees.”

“We are excited to gain a footprint in Columbia by acquiring what is considered to be the premier office building in the heart of an amenity-rich market,” commented KBS Eastern Regional President, Marc DeLuca. “The property features an irreplaceable location with an impressive rent roll. The property is also a short walk from the University of South Carolina which has consistently ranked among the top schools in the country for International Business Studies.”

The property is currently 98 percent leased, and anchored by Edens, McNair Law Firm and NCBC. Other tenants include the regional law firms of Parker Poe, Rogers Townsend & Thomas, and Womble Carlyle, along with The Oak Table restaurant.

Main & Gervais is the sister building to Bank of America Tower in Raleigh, NC, an office property developed by KBS in 2016. Both buildings were designed by the renowned architectural firm of Duda Paine.

About KBS KBS Realty Advisors is a private equity real estate company and SEC-registered investment advisor founded in 1992. KBS Realty Advisors and its affiliated companies have completed transactional activity of over $33 billion via 15 separate accounts, six commingled funds, five sovereign wealth funds and seven non-traded REITs. For information, visit www.kbs.com.

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