Hanahan Medical Office Building Fetches $8.2M; 2nd Co-Working Firm Eyes Downtown Charleston

Originally published by The Post and Courier

A Hanahan medical office building on a shopping center outparcel recently changed hands for $8.225 million. 

Harbor Chevrolet Corp. of Long Beach, Calif., bought the 15,030-square-foot healthcare facility leased by Coastal Kids Dental and Braces at 996 Tanner Ford Blvd. in late March, according to Berkeley County land records. 

The previous owner of the site in the Lowes Foods-anchored shopping center in Tanner Plantation was North Rhett Ventures LLC, which is affiliated with the owners of the tenant practice. 

The two-story property was built in 2017 on a 1.52-acre site. The flagship location houses the tenant’s dental and orthodontic practice as well as its office support and executive staff. 

Northmarq handled the all-cash sale for the seller. 

Jeff Enck with the broker’s Atlanta office said the property received multiple offers, but closed with a group of West Coast investors

“Medical net lease properties, particularly those with rental increases, continue to be in favor with investors as inflation rises,” Enck said.