A small parking lot in downtown Charleston recently sold for over $4 million dollars. Buist Byars & Taylor represented the buyer.
Located at 145 East Bay Street, the parcel, which is less than a one third of an acre, will continue to be used for parking. The previous owners planned to build a four-story office structure, but instead decided to sell the property. The lot provides 40 parking spaces, which are at a premium in the area.
Plans call for the lot to be used for valet parking and other parking needs for a new restaurant and event space currently under development at 161 East Bay Street. This location most recently housed Lagunitas Brewing Company.