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Address Not Available By Request

North Charleston, SC 29405
  • $19,200,000
  • STATUS: Active
  • ON SITE: 673 Days
  • ID#: 30786783
UPDATED: 73 min ago
$19,200,000
  • 0
    BEDS
  • 3.65
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 56,400
    SQFT
  • $340
    $/SQFT
Type:
Commercial
Built:
1999
County:

School Ratings & Info

Description

4221 Faber Place Drive is a 56,400 SF single tenant FDA validated sterile clean drug manufacturing facility. The Tenant is Alcami Carolinas Corporation. They provide small batch drug manufacturing and testing for drug developments. The FDA approval is extremely hard and expensive to obtain. The lease is NNN at a current in place rent of $960,000 per year ($80,000 per month). The cap rate is 5.0% for an offering price of $19,200,000. The tenant has been in the building since 1999 and has expanded twice, just completing its last 2,400 SF expansion in 2021. The current lease term commenced April 1, 2021 for a 20 year term that will expire March 31, 2041. The tenant has one five year option to renew. The rents increase every two years by the lesser of the cumulative increase in the CPI every two years or 5.5%. The next rent increase will occur on April 1, 2023.

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www.thecassinagroup.com/homes/125351734
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Address Not Available By Request North Charleston, SC 29405

  • Price: $19,200,000
  • Status: Active
  • On Site: 673 Days
  • Updated: 73 min ago
  • ID#: 30786783
0
Beds
0
Baths
0
½ Baths
3.65
Acres
56,400
SQFT
$340
$/SQFT
1999
Built
County:
Charleston
Property Description
4221 Faber Place Drive is a 56,400 SF single tenant FDA validated sterile clean drug manufacturing facility. The Tenant is Alcami Carolinas Corporation. They provide small batch drug manufacturing and testing for drug developments. The FDA approval is extremely hard and expensive to obtain. The lease is NNN at a current in place rent of $960,000 per year ($80,000 per month). The cap rate is 5.0% for an offering price of $19,200,000. The tenant has been in the building since 1999 and has expanded twice, just completing its last 2,400 SF expansion in 2021. The current lease term commenced April 1, 2021 for a 20 year term that will expire March 31, 2041. The tenant has one five year option to renew. The rents increase every two years by the lesser of the cumulative increase in the CPI every two years or 5.5%. The next rent increase will occur on April 1, 2023.
Exterior Features

Lot Acres Min 3.6500

Property Features

Build To Suit No Class Of Space Class A Current Use High TechMedical/DentalOffice Fixed Price Or Range Fixed Price Listing Terms Cash Nearest MSA Charleston-North CharlestonSc Property Sub Type Office Secondary Property Sub Type Office Zoning City Of North Charleston - M-1 - Light Industrial District

Listing courtesy of Cbre, Inc: .
 
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The Cassina Group, LLC
309 Coleman Boulevard
Mount Pleasant SC, 29464