Listed by CBRE - Charleston
$24,950,000
4221 Faber Place Drive
Details
APN 4100000034
Property Type Special Purpose
Square Footage 56,400
Units 1
Cap Rate 4.30%
Lease Type NNN
Lease Term 10
Class A
Year Built 1999
Stories 1
Acreage 3.650
Zoning City of North Charleston - M-1 - Light Industrial District
Parking Spaces 65 spaces
Parking Per SqFt 1.15
Lease Commencement 05/31/2001
Special Purpose | 4.30% CAP | 56,400 SqFt
Marketing description
4221 Faber Place Drive is a 56,400 SF single tenant FDA validated sterile clean drug manufacturing facility. The tenant is the Alcami Carolinas Corporation. They perform small batch drug manufacturing and testing for drug research and development. The FDA approval is extremely difficult and expensive to obtain. The lease is NNN at a current annual rent of $1,068,504 per year = $89,042 per month. The tenant has been in the building since 1999. The current leaase term runs to March 31, 2041. The tenant has one five year option to renew. The NNN rent increases every two years by the lesser of the cumulative increase in the CPI or 5.5%, The next rent increase will occur on April 1, 2027.
Investment highlights
- The original building was built in 1999.
- The Tenant is Alcami Carolinas Corporation at www.alcaminow.com. The company is headquartered in Wilmington, NC and has locations in North Charleston, SC, Durham, NC, Edison, NJ, St. Louis, MO, Germantown, WI, and the Netherlands. Alcami is a global pharmaceutical contract development and manufacturing company. The Parent Company is a partnership between GHO Capitl and The Vistria Group.
- The building is an FDA validated sterile clean manufacturing site it is extremely difficult and expensive to building and maintain an FDA approved clean site.
- The tenant provides small batch drug manufacturing and testing for drug development.
- The existing lease is an absolute NNN lease.
- The Tenant has occupied the building since it was completed in 1999. The current lease term is for 20 years commencing on April 1, 2021 and expiring on 3/31/2041.
- The tenant has one-five year option to renew.
- TMS Number: 410-00-00-034
- Tenant recently replaced the roof and several HVAC units at Tenant’s expense
- Tenant recently expanded the parking lot at Tenant’s expense
- The listing price is $24,950,000
- The NNN rents are $89,042.00 per month = $1,068,504.00 per year. NNN Rents are as of April 1, 2025. The rent increases by the lesser of (i) the cumulative increase in the CPI every two years or (ii) 5.5%. The next rent increase will occur on April 1, 2027. The rent increases remain the same during the one-five year option period.
- Base Rent: $75,000 per Month = $900,000 per year
Listing Contacts
Listed by CBRE - Charleston
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