Capital Square 1031 Buys Fully-Leased South Carolina Office Building
December 18, 2018
FORT MILL, SC—Glen Allen, VA-based Capital Square 1031 has acquired the150,000-square-foot fully-leased office building at 8106 Calvin Hall Road here.
The three-story building is 100% leased on a triple net basis to CompuCom Systems Inc., which has 14 years remaining on the lease for its corporate headquarters operations. CompuCom is a wholly owned subsidiary of Office Depot Inc., and provides end-to-end managed services, technology and consulting to enable the digital workplace for enterprise, midsize and small businesses.
Capital Square 1031 is a real estate investment and management firm specializing in tax-advantaged Delaware statutory trust offerings. No financial terms of the transaction were reported.
The building located in the suburb of Charlotte, NC, was completed in 2017 and was awarded the 2018 Office Project of the Year by the Charlotte Business Journal.
“The building has a state-of-the-art design with features that provide a showcase for clients and attracts top technology professionals to the company,” says Louis Rogers, founder and CEO of Capital Square 1031. “It’s strategically situated in Fort Mill, a submarket that is a popular destination for corporate relocations with convenient access to Downtown Charlotte. Capital Square acquired the property for a Delaware statutory trust offering, making it the 52nd DST offering we have sponsored since inception.”
The office building is situated on approximately 19 acres of land. With 11,000 associates and more than 100,000 certifications, CompuCom manages and supports more than 5 million end users, 8 million service desk contacts, 1 million mobile devices, 6.4 million stationary devices, and 2.4 million network devices. The company’s clients include seven of the top 10 retailers in North America, six of the top 10 Fortune 500 companies, and six of the top 10 financial services firms.
Matt Bear, founder and CEO of Bear Real Estate Advisors, represented Capital Square in its acquisition of the property.
Since its inception, Capital Square 1031 has completed approximately $905 million in transaction volume.
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