JLL Capital Markets led the financing efforts on behalf of Denholtz for a 98K SF flex industrial asset in a growing market
News release
07 April 2025
Multi-tenant industrial asset in Columbia, SC secures acquisition financing
Your browser doesn't support speech synthesis.
Listen to article •
Read time: 1 sec
MORRISTOWN, N.J., Apr. 7, 2025 – JLL Capital Markets announced today that it has arranged acquisition financing for 20/21 Business Center, a 98,386-square-foot multi-tenant flex industrial complex in Columbia, South Carolina.
JLL worked on behalf of the borrower, Denholtz, to secure the five-year loan through Bank United.
Located at 100-400 Northeast Drive and 6904 North Main Street, 20/21 Business Center consists of three buildings situated on 17.64 acres, with an additional 6.62 acres of undeveloped adjacent land. The property is 97.5% leased to a diverse roster of 26 tenants across multiple industries, with an average suite size of 3,784 square feet. It features 17 dock doors, 19 drive-in bays, ceiling heights ranging from 14 to 18 feet and 306 parking spaces.
The flex complex benefits from its strategic location along Interstate 20, offering excellent connectivity and visibility with over 100,000 vehicles passing by daily. It is situated just 15 minutes from Columbia's Central Business District in the expanding Northeast submarket, where tenant demand is supported by nearby amenities and steady growth.
Columbia, the state capital and second largest city in South Carolina, boasts a population of over 850,000 in its metropolitan area. Its central location makes the market an attractive hub, positioned less than three hours from the Port of Charleston, the Port of Savannah and midway between New York City and Miami. Additionally, the region's economy is bolstered by a strong manufacturing base, logistical convenience, access to a skilled labor pool and business-friendly policies.
The JLL Capital Markets team was led by Senior Managing Directors Michael Klein and Jon Mikula, Senior Director Alexis Kaiser and Analyst Kevin Badger.
"20/21 Business Center’s diverse tenant mix, below-market rents and prime location in Columbia's Northeast submarket resulted in a significant amount of interest from the lending community," said Kaiser. "The property's strong in-place cash flow, coupled with significant upside potential through lease-up of vacant space and mark-to-market of below-market rents, attracted competitive financing terms."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Denholtz
Denholtz is a leading privately held investment management firm bringing a highly innovative approach with institutional execution to commercial real estate. Backed by decades of experience, we leverage a dynamic vertically integrated platform to create value for our investors.
Founded in 1953, we manage over $2B in high-performing assets across industrial, residential, retail, office, and mixed-use strategies. With a portfolio of over seven million square feet, we operate throughout the north and southeastern US with a staff of over 100 employees. To learn more about Denholtz, visit www.denholtz.com.
To stay connected with Denholtz and for updates, follow Denholtz on Facebook, X, Instagram and LinkedIn.
About BankUnited, N.A.
BankUnited, Inc. (NYSE: BKU), with total assets of $35.2 billion at December 31, 2024, is the bank holding company of BankUnited, N.A., a national bank headquartered in Miami Lakes, Florida that provides a full range of banking and related services to individual and corporate customers through banking centers located in the state of Florida, New York metropolitan area and Dallas, Texas, and a comprehensive suite of wholesale products to customers through an Atlanta office focused on the Southeast region. BankUnited also offers certain commercial lending and deposit products through national platforms. For additional information visit www.BankUnited.com. BankUnited can be found on Facebook at facebook.com/BankUnited.official , LinkedIn @BankUnited and on X @BankUnited.