Capital Square 1031 has acquired an office building located in the Charlotte, North Carolina suburb of Fort Mill, South Carolina. No financial terms were disclosed. The property is 100 percent leased to CompuCom Systems Inc.
CHARLOTTE, N.C., Dec. 18, 2018 /PRNewswire/ — Capital Square 1031, a leading real estate investment and management firm specializing in tax-advantaged Delaware statutory trust offerings, announced today its acquisition of an approximately 150,000-square-foot Class A corporate headquarters office building located in the Charlotte, North Carolina suburb of Fort Mill, South Carolina.
The property is 100 percent leased on a triple net basis to CompuCom Systems Inc., with 14 years remaining on the lease. 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.
“This is a very modern, well-located digital campus that was completed in 2017 and awarded the 2018 Office Project of the Year by the Charlotte Business Journal,” said Louis Rogers, founder and chief executive officer of Capital Square 1031. “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. 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.”
Located at 8106 Calvin Hall Road, the three-story facility 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.
CompuCom houses its proprietary Internet of Things system at the property, that connects, automates and controls all electric systems and devices within the building. The company reports in its digital campus case study, that the operating efficiencies of its digital campus allow it to operate at approximately 16 percent less expense than their previous headquarters.
CompuCom was named the 2018 Leader by Gartner Magic Quadrant Managed Workplace Services, North America; 2018 #1 End-User Device by Gartner Critical Capabilities, Managed Workplace Services, North America; and a 2018 Top 50 Best Workplace by the Silicon Review.
Matt Bear, founder and chief executive officer of Bear Real Estate Advisors, represented Capital Square in its acquisition of the property.
Since its inception, Capital Square 1031 has sponsored 52 DST programs and has completed approximately $905 million in transaction volume.
About Capital Square 1031
Capital Square 1031 is a national real estate investment and management company that sponsors institutional-quality real estate exchange programs that qualify for tax deferral under Section 1031 of the Internal Revenue Code. The company acquires multifamily properties for growth, necessary medical properties for stable income, and other real estate investments (sale/leasebacks, headquarters, offices and facilities) that have the potential to provide exceptional risk adjusted returns. By acquiring a portfolio of DSTs, investors are able to diversify and reduce the risk they would face with a single asset investment. Capital Square aims to provide real estate investors greater access to quality investments and financial planning tools to better manage and mitigate risk.
Capital Square provides a range of services, including due diligence, acquisition, loan sourcing, property management/asset management, and disposition, for a growing number of high net worth investors, private equity firms, family offices and institutional investors. Since inception, the firm has sponsored 52 DSTs and has completed approximately $905 million in transaction volume. To learn more, visit www.CapitalSquare1031.com.