Sale of 735 Johnnie Dodds Boulevard – Mt. Pleasant, South Carolina

Cherry & Associates has represented the owners in the sale of a 28,901 SF office building located at 735 Johnnie Dodds Boulevard in Mount Pleasant, South Carolina, for $7.8 million. C&A originally represented the owners in the purchase of the building in 2014; an entity established by members of the law firm of MGC Law. C&A provided asset management for ownership through the three and a half year hold period, assisting in the oversight of leasing and management by the local firm of Lee & Associates.  Prior to the sale, the building was stabilized to 95% occupancy, ultimately demanding a 7.5% cap rate for ownership. C&A wishes to thank long-time client MGC Law and its equity members.  C&A also thanks the team at Lee & Associates, in Charleston, for their partnership over the last 3 ½ years, along with their work in securing the sale of the building.