Hall Capital Snags $36M SC Office Asset
- Feb 15, 2018
CBRE Capital Markets has arranged the sale of Faber Plaza, a 125,822-square-foot, Class A office building in Charleston, S.C. A partnership between Trinity Capital Advisors and Durlach Associates sold the recently completed asset to Hall Capital in a $36.4 million deal.
Located at 4400 Leeds Ave., the five-story property came online in the summer of 2016. Faber Plaza sits on a 9.1-acre parcel in the center of Charleston’s Faber Place office park. Tenants have access to on-site building engineer and day porter services, as well as ample parking, with a total of 575 spaces available. Faber Plaza provides immediate access to interstates 526 and 26.
Core office investment
The team of Executive Vice Presidents Patrick Gildea and Charles Carmody, along with Operations Analyst Matt Smith, worked on behalf of the seller in the transaction.
“There are a limited number of institutionally sized office transactions in a market of Charleston’s size in a given year, yet a considerable amount of institutional and high-net-worth capital seeking core office investments like Faber Plaza, due to the market’s incredible barriers to entry and strong demographics,” Gildea said in prepared remarks.
In October 2017, CBRE brokered the sale of the tallest office building in South Carolina. Hamilton Equity Partners acquired the 460,020-square-foot Capitol Center from a joint venture between M&J Wilkow and Intercontinental Real Estate Corp.
Image courtesy of CBRE