The properties include Liberty's holdings at Faber Place in North Charleston, 200 Meeting Street in historic Downtown Charleston, and a 300,000 sf warehouse in nearby Berkeley County.
In a prepared statement, Liberty says it is using the proceeds from the sale to fund development activities and for general corporate purposes.
Charleston was the smallest metropolitan area in which Liberty maintained an operation. Still, Liberty was the largest office and industrial landlord in the market, the company says.
The largest property is the Bank of America Building in downtown Charleston. The building includes an attached 355-car parking garage. Faber Place is on 70 acres in North Charleston off Leeds Avenue. Jupiter also acquired the 300,000 sf warehouse/distribution center in Hanahan, SC. The building is occupied on a long-term lease by Norton McNaughton, a distributor of private-label women's apparel.
Liberty Property Trust was represented by Leigh Colyer of Charleston and William A. Goodwin, senior first vice president with CB Richard Ellis in Philadelphia. The properties will be leased and managed by CB Richard Ellis Carmody.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
