Wheeler purchases redevelopment property in Columbia, S.C.
Wheeler Real Estate Investment Trust Inc. has purchased a historic property in Columbia, S.C. for $2.4 million.
The Columbia Fire House property includes one acre of land and two vacant buildings that were used as the Columbia Fire Departments headquarter's from 1950 to 1995.
Virginia Beach-based Wheeler plans to launch the first phase of redevelopment later this year on the property. The buildings are listed on the National Register of Historic Places, and the company could receive tax adjustments for renovations of the historic structures.
Columbia Fire House is located in Columbia’s Congaree Vista district, which has attracted commercial, residential, shopping, dining and art venues. The district is anchored by the Hilton Columbia Center Hotel and also is home to the Columbia Metropolitan Convention Center, a 142,500-square-foot facility.
“We first began pursuing this property over three years ago, and I am very pleased to have the opportunity to acquire this historic and centrally located asset,” Jon S. Wheeler, chairman and CEO, said in a statement. “Columbia Station is in a prime location where retail is thriving and the area is rich in historic and cultural offerings that attract local residents and visitors. We view Columbia Fire House as one of the best opportunities in the city for its location and visibility in the Vista.”