FOR IMMEDIATE RELEASE 10/05/2021
Caldwell Commercial Real Estate Services sells North Rhett Executive Center to Viking Partners Fund IV Holdings LLC
CHARLESTON, SC: Caldwell Commercial Real Estate Services has brokered the sale of North Rhett Executive Center, a 64,801-square-foot office and flex building in North Charleston.
North Rhett Executive Center was sold to Viking Partners Fund IV Holdings, LLC for $11.2 million. This will be Viking Partners Fund IV’s first venture in South Carolina and its fourth major investment add-on since 2019.
The Cincinnati, Ohio-based company currently holds $1.2 billion of real estate in 10 states across the country and spent two years searching the Charleston area for a property that met their investment criteria.
“Charleston is a market we want to continue to grow in,” Viking principal and co-founder Bret A. Caller said. “The military presence has provided some stability and growth opportunities there even through the pandemic.”
A portion of the space will remain leased to Fortune 500 company Science Applications International Corp. SAIC once leased 100% of the space when it was built in 2008, but rightsized the property for future needs in 2018.
Viking Partners said in a news release that they intend to backfill the remaining 12,000 square feet of Class A office space. The space comes equipped with modern furniture and fixtures for new tenants.
Robert A. Caldwell, president of Caldwell Commercial Real Estate, represented both the buyer and seller in this transaction. He has been involved in the project from development and construction to the property’s sale. Caldwell Commercial will continue to be responsible for the management and leasing of the property on behalf of Viking Partners.
For inquiries, contact Katie Chinlund at email@example.com or at (843) 566-1888.
About Caldwell Commercial
Caldwell Commercial Real Estate Services has been servicing the Lowcountry since opening its doors in 2000. Locally owned and operated in Charleston, South Carolina, we provide high-quality service, attention to detail, and quick turnaround for each of our clients.
Our statewide, national, and international professional partnerships allow us to provide the resources and accessibility of a large firm, with the service and attention of a local one. With a combined 80 years of commercial real estate and property management experience, you can rest knowing that your needs will be met with results and superior satisfaction.
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