Faber Plaza in the news!

Story by cnmAdmin2030
November 2, 2015

One filled. Four to go.

A large new office building under construction in North Charleston has landed its first tenant in a deal that eats up 20 percent of the leasable space. Sonepar North America is taking the 25,000-square-foot top floor of the five-story Faber Plaza, Palmetto Commercial Properties announced last week. The business-to-business supplier of electrical products and safety tools will be relocating from West Ashley.

The North Charleston space will serve as the French-owned company's North American headquarters.

"We look forward to operating in this new facility and are excited about the opportunity to move our Lowcountry workforce into this great location," Sonepar North America CEO Dave Gabriel said in a statement.

Faber Plaza is under construction at 4400 Leeds Ave., near U.S. Interstate 526 and the Executive Park at Faber Place. It is the largest speculative office building built to date in the region, according to the developer.

Completion is scheduled for April.

The developer is a joint venture between Charleston-based Durlach Associates and Trinity Capital Advisors of Charlotte, It said it's confident about its prospects for leasing the other 100,000 square feet "as the building moves closer to completion."

The first tenant was formerly known as Hagemeyer North America, which still exists in name as a Sonepar division.

Hagemeyer was part of a Dutch-owned company when it established a foothold in the Southeast about 15 years ago, when it acquired North Charleston-based distributor Cameron & Barkley for $265 million. It moved its North American headquarters to the Lowcountry from Atlanta in 2003, and set up its corporate office at its existing location on Tobias Gadson Boulevard in West Ashley.

After Hagemeyer's parent company was sold in 2007, the buyer flipped the Charleston-based division to Sonepar, a family-owned group of global businesses headquartered in Paris.

VIA Post and Courier: (Click here to read the full article.)


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