Trinity Capital Advisors and Durlach Associates Developing Faber Plaza in Charleston
June 10, 2015
Trinity Capital Advisors is pleased to announce its latest development project: Faber Plaza, a Class-A office building in North Charleston’s Faber Place submarket. The Charlotte-based real estate development and investment firm is partnering with Charleston’s Durlach Associates on the project.
The 125,000 SF building is located at 4400 Leeds Avenue, at the entrance to The Executive Park at Faber Place and Leeds Park with immediate access to I-526 and I-26. Designed by award-winning LS3P Architects, Faber Plaza will be column-free with floor to ceiling glass. Construction will be complete in April 2016. Choate has been hired as general contractor. Rob Cochran and Jared Londry with DTZ’s Carolinas Capital Markets Group sourced the equity in the transaction on behalf of Durlach and Associates.
“We’ve assembled an experienced, sophisticated development team to collaborate on Faber Plaza,” said Sherrie Chaffin, Director of Development at Trinity Capital. “Durlach Associates has a proven track record that speaks for itself, and we’re pleased to partner with them to deliver a high-quality product to the Charleston office market.”
The Faber Place submarket is 95% leased, and currently home to several key businesses and organizations in the region, including The Charleston Chamber of Commerce, Charleston County Economic Development, Boeing, Regus, Pulte, Comcast, Lockheed, and Select Health.
“We’re excited to develop this new office building with Durlach Associates,” noted Founding Partner, Gary Chesson. “Charleston’s office sector is obviously supply-constrained and this is a great time to introduce Class A product to the market.” Trinity Capital previously owned NorthPointe Industrial Park, a 400,000 SF industrial facility and 24 acres of land near the port of Charleston.
“We are pleased with the tremendous interest in this project,” said Durlach Associates’ President Marcus R. Durlach, IV. “We expect to announce our first tenants in the near future and look forward to delivering Charleston’s most efficient, productive and enjoyable workplace when the building opens spring 2016.” Durlach Associates and Richard Morse of Palmetto Commercial Properties are marketing the building for lease.
Trinity Capital and Durlach Associates are planning a groundbreaking ceremony for late July.
About Trinity Capital Advisors
Founded in 2001, Charlotte-based Trinity Capital Advisors focuses on the acquisition and development of institutional quality office, industrial, and mixed use real estate in the Southeastern United States. The firm has invested approximately $1.8 billion since inception. Trinity Capital has acquired or developed some of the most successful real estate projects in the Southeast, including Ally Center, NASCAR Plaza, Perimeter Woods Business Park, Toringdon Office Park, and Westlake Business Park. Investments are capitalized through Trinity Capital’s Value Fund series as well as through partnerships with some of the country’s top institutional investors. For more information about Trinity Capital, please visit our website at trinitycapitaladvisors.com.
About Durlach Associates
Durlach Associates is a recognized leader in the Charleston commercial real estate market with over 35 years of experience developing, leasing, and managing corporate office facilities. The company is committed to enhancing corporate productivity by providing exceptional work environments. Durlach has completed over 1.6 million square feet of Class A facilities valued in excess of $300 million. Durlach develops facilities to accommodate major corporations, the federal and state government as well as local and regional businesses.