Charleston, South Carolina
CHARLESTON, SC – Hunt Real Estate Capital, Iron Bridge Capital LLC and the Charleston Digital Corridor announce construction commencement on the Charleston Tech Center (CTC) in Downtown Charleston, SC. The 92,000-square-foot six-story office building will target and house start-up, early-stage and mature tech companies. The development comprises collaborative efforts between the City, the State, the federal Opportunity Zone program, the Charleston Digital Corridor and the private sector.
The center of business incubators will offer tech companies office space, amenities and conference facilities, featuring a rooftop terrace and ground floor retail and restaurant offerings. The development includes an adjacent 816-space parking garage, which will be owned and operated by the City of Charleston. The project is scheduled for a late 2020 completion.
Located in the Upper Peninsula of Charleston in a designated Opportunity Zone, the project is one of the first developments in Charleston to construct under an Opportunity Zone structure. Hunt Real Estate Capital provided Opportunity Zone equity financing for the project and Synovus was selected for debt financing.
South Carolina's technology sector currently boasts more than 7,400 tech-based businesses, providing $12.6 billion to the state's economy. The CTC has contributed to the sector, growing from 17 companies in 2001 to more than 450 companies today. The Charleston Digital Corridor offers professional and educational services, aiming to further expand the region's tech company base.
Hunt Real Estate Capital, a division of Hunt Capital Holdings LLC, focuses on investing, financing and managing multifamily housing and commercial real estate.
Iron Bridge Capital, headquartered in Charleston, SC, is a private real estate investment and development firm focused on transactions across the Southeast.
The Charleston Digital Corridor is an initiative to attract and promote the local tech economy through programs, products and events.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
