CBRE brokers sale of 4221 Faber Place Drive in North Charleston, SC
July 20, 2017
CBRE Group, Inc. has arranged the sale of 4221 Faber Place Drive in Faber Place Executive Park, North Charleston, South Carolina. Charles Carmody, Chris Tamsberg and Alicia Leland exclusively represented the seller, The Medical University of South Carolina Foundation, in the transaction. The 48,000-square-foot facility on 3.65 acres sold to locally-based JEMA, LLC on June 29, 2017 for $11,331,443.
Located in the North Charleston submarket and fully leased to the Alcami Corporation, the building is a highly specialized, FDA-verified clean pharmaceutical manufacturing and testing facility. North Charleston has experienced a high amount of office market growth recently, with over 70,000 square feet of positive net absorption in the second quarter of 2017, including large leases by Blue Cross and C&S Retail Services. Asking rents in the North Charleston submarket have increased by 5.6% in the past year.
“The offering presented an excellent opportunity for an investor,” said Senior Vice President, Charles Carmody. “The quick sale of 4221 Faber Place Drive was competitive, generating interest from around the United States. This displays the continued desire for quality investment property in the Charleston market.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
