The Alcami Building

Office for Sale
Catylist Listing ID: 30786783
Property Subtypes: High-Tech, Medical, Office Building
Building Size (RSF): 56,400 SF
Gross Land Area: 3.65 Acres
Sale Price: $19,200,000
Unit Price: $340.43 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: The Alcami Building
Class of Space: Class A
Usable Size (USF): 56,400 SF
Sale Terms: Cash to Seller
Cap Rate: 5.0%
Average Occupancy Rate: 100
Last Updated: 6/27/2022

Overview / Comments

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.

Attachments & Media

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 32 - N.Chas./Summerville outside I-526
Taxing Authority: North Charleston
Tax ID/APN: 4100000034
Property Visibility: Excellent
Year Built: 1999

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,972 64,032 148,948
Median Age: 35.31 35.69 34.74
Households: 1,566 26,714 61,315

Contact

Photograph of Listing Agent

Charles S Carmody

CBRE, Inc SCCMLS Member
Photograph of Listing Agent

Ryan P Carmody

CBRE, Inc SCCMLS Member
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