4 Factors Driving The Big CompuCom Lease
CompuCom Systems is moving from suburban Dallas into a new 150k SF building in Bailes Ridge Business Park in Lancaster County. Site selection is never about one thing; here are four factors that went into the deal.
1) The Highest Of High-Tech
CompuCom is getting more than a new building, it's getting a facility with high-tech that the company is designing itself. The office will use the Internet of Things to connect, automate and control all electronic systems and devices within the building, including HVAC, lighting, meters/sensors, fitness equipment, kitchen electronics, elevators, water, power, communications, TVs and security.
CompuCom was founded nearly 30 years ago as a computer sales company, but has since morphed into a provider of IT managed services and infrastructure that supports more than 4.4 million end users. The building will house the company's HQ and global contact center operations.
2) CompuCom Has Local Connections Already
CompuCom has an office in Whitehall Corporate Center in southwest Charlotte, and a good many CompuCom execs—including CEO Dan Stone, executive chairman Don Doctor, CFO Carlos Sagasta, chief of strategy Greg Hoogerland and CIO Justin Mennen—are already in greater Charlotte, making the move that much less of a stretch.
This year, the company also opened four Tech-Zone storefronts in the greater Charlotte area. Their purpose is to bring payroll-grade IT services to small and midsized companies.
3) The Local Climate Is Right
The CompuCom building is a JV of The Keith Corp and MPV Properties. Bailes Ridge, a 300-acre corporate office park in Lancaster County, was developed by MPV Properties. Once the new building is completed, CompuCom will take occupancy.
Lancaster County continues to enjoy strong commercial and residential growth, said MPV development manager Mike Bilodeau. “Lancaster County’s emergence as a top-tier location for corporate headquarters and high-tech employment is because of the strong business climate of South Carolina and Lancaster’s proximity to the high-growth corridor of south Charlotte," Mike told us.
4) The Incentives Are Sweet
The company will collect at least $7M in state and local incentives for moving from Plano, TX, to South Carolina, according to county officials. CompuCom will also receive an as-yet unspecified amount in job development tax credits, which are performance-based incentives that rebate a portion of new employees' withholding taxes. The incentives are approved on a case-by-case basis by the SC Coordinating Council for Economic Development.
Foundry Commercial was CompuCom's tenant rep in the deal. Womble Carlyle served as the incentive consultant.