Colliers sells 3-building flex office portfolio in Columbia

A collection of flex/office buildings in the Midlands has been sold.

Colliers has sold Stephenson Center, a flex/office portfolio located at 714 Betsy Drive and 720 Gracern Road in Columbia.

The transaction was led by the Colliers team of Nolan Ashton, Tommy Whitmore, Henry Roe and Allen Wilkerson, according to a news release. Colliers represented the seller, RealOp Investments, in the sale to FirstLight Investments.

New ownership will retain Henry Roe and Allen Wilkerson for agency leasing of the portfolio.

Financial terms of the deal were not disclosed.

Stephenson Center is a collection of three flex/office buildings totaling 102,141 square feet, including ±0.4 acres of secured industrial outdoor storage, according to the release. The portfolio is 91% leased to a diverse and creditworthy tenant base, inclusive of flex users, medical office users, and government agencies. The property features highly functional flex/office space in a strategic infill location with immediate access to CBD Columbia, Interstates 126, 26, and 20.

“This transaction highlights the strength of Columbia’s flex office market and the value of well-located, institutionally managed assets,” said Tommy Whitmore, senior associate at Colliers, in the release. “We are proud to have facilitated this transaction on behalf of RealOp and look forward to seeing FirstLight’s business plan come to life at Stephenson Center.”