CBRE Facilitates Sale of Faber Plaza in North Charleston
Feb 13, 2018 12:37PM
By Emily Stevenson
CBRE Capital Markets arranged the sale of Faber Plaza, a 125,822-square-foot Class A office asset located at 4400 Leeds Ave. in Charleston. Hall Capital acquired the 5-story property for $36.4 million.
CBRE’s Patrick Gildea, Matt Smith, and Charles Carmody represented the seller, Durlach TCA Charleston, LLC, in this transaction. Durlach TCA Charleston, LLC is a joint venture between Charlotte-based Trinity Capital Advisors and Charleston-based Durlach Associates.
“Faber Plaza has distinguished itself as one of Charleston’s top office assets, and is well positioned within the Executive Park at Faber Place, Charleston’s largest and only Class-A suburban office park” said Mr. Gildea, executive vice president at CBRE Capital Markets. “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.”