Paces Run is a venture between Silverado Interests, and the Wilkinson Group, Inc. We were attracted to this investment because of the strong long term track record of our partner, and because it provides investors with a strong current income.
Paces Run was built in 1987 and consists of 260 units in 16, two & three-story residential buildings situated on approximately 15.08 acres of land fronting on Parklane Rd just across from the Richland County Tennis Center in Columbia, SC. The property has approximately 650 feet of frontage along the western side of Parklane Rd, which experiences a traffic volume of approximately 14,400 cars per day. The property is situated within a triangular area bounded by I-77 on the east, I-20 on the south, and Hwy 277 on the west. It is just one minute from the nearest entrance to each of these regional transportation corridors.
The property is very attractively designed and enjoys excellent visibility from Parklane. The main property entrance and landscaping along Parklane are advantageously attractive and inviting. The building exteriors are finished with Vinyl Siding and brick chimneys, which provide an attractive accent. The architectural design includes pitched gabled roofs, exterior balconies and double pane windows in aluminum frames. The property offers a full menu of amenities, including: a Clubhouse/Leasing Center, Fitness Center, Resort-Style Swimming Pool with Sun Deck and Poolside Fountain, Car Care Center, Laundry Facility and Picnic Area.
The property is conveniently located to area demand drivers, public amenities and retail and restaurant offerings. As mentioned, Hwy 277 is within minutes and provides direct access to Columbia’s CBD just 14 minutes to the south. Columbia Place Mall, anchored by Macy’s, Sears and Burlington Coats, and the Fort Jackson Military Base are just 4 minutes and 14 minutes to the south, respectively; Carolina Research Park, a 246 acre business park, and Providence Hospital Northeast are located just 5 minutes to the north, and the Two Notch Road retail corridor anchored by the Village at Sandhill, featuring 2.5 million square feet of retail and restaurant offerings, and Sesquicentennial State Park are both approximately 15 minutes to the northeast.