HARRIS CORNERS CORPORATE PARK
Core Plus Acquisition
Urban Strategy America Fund
PROPERTY: Three building, Class A office portfolio built between 2000-2006, totaling
361,144 SF and located within at 75-acre master planned park
PRICING: $49.6M ($137 PSF) – 75% of replacement cost
- Acquisition of three core quality assets at an attractive basis that offer stable occupancy at 88% and steady cash flow. The properties are the dominant assets in the strongest location in the submarket.
- The property is home to a strong roster of credit tenants, including the North American headquarters of Husqvarna, Carrier Corporation, and Bank of America.
- Located just 10 minutes north of downtown Charlotte and within close proximity to some of Charlotte’s most attractive executive housing communities. The location is also poised to benefit from the completion of the city’s major loop highway, I-485, in 2015.
- High quality, well located asset projected to generate a premium yield at a point in the economic cycle when economic fundamentals, job growth, and investor demand are projected to trend upwards.
- Since acquisition, New Boston has been able to increase occupancy.