Columbia ‘Tunnel Vision’ historic apartment building changes hands for $17M | Columbia Business

COLUMBIA — A historic constructing in downtown Columbia that was converted to residences near a sculpture of a big fire hydrant has been marketed for $17.45 million.

The Land Bank Lofts developing at 1401 Hampton St. was offered recently by Heritage Land and Advancement, in accordance to Marcus & Millichap, a industrial actual estate organization.

The Countrywide Sign-up of Historic Places-outlined setting up is a site that visitors to Columbia will remember mainly because its parking large amount is the web-site of the “Tunnel Eyesight” mural by artist Blue Sky. 

Blue Sky’s “Busted Plug” sculpture also continues to be in the parking ton. The 40-foot-tall hydrant has been donated to the city with the idea that it would be relocated, but no determination on a new site has been made.

The consumer of the 113-device home was Xsite Funds Expenditure, a Maryland-headquartered real estate expenditure company.

“The downtown Columbia rental market place requires some of the maximum rent in South Carolina,” Drew Babcock, an investment decision specialist for Marcus & Millichap in Columbia, stated in a statement.

“We were capable to produce curiosity in this residence from all in excess of the nation and even captivated investors centered overseas,” Babcock stated.

The creating was created in 1924 as the Federal Land Lender Creating, a person of 12 nationwide, and was enhanced from 3 tales to five in 1935.

It operated to lengthen credit history for investment in rural regions, specifically to smaller banks.

For a long time, it served as the headquarters for AgFirst, a cooperative extending credit history, complex assist and other providers to rural loan companies. 

Conversion of the area was released in 2015 immediately after AgFirst relocated to the workplace tower at 1901 Most important St.