Tuesday, June 12, 2012

New Boston Fund continues its growth in the Southeast with four new leases and six lease renewals in Charlotte

Charlotte, N.C. – (June 12, 2012) – New Boston Fund, Inc., a private equity real estate investment, development and management firm, announced today that over the past quarter, it has completed five new leases and six lease renewals totaling more than 40,000 square feet of Class-A office space at Harris Corners Corporate Park in Charlotte, N.C.

New Boston welcomes new tenants, Brookdale Senior Living, RK Motors, Carolina’s Minority Supplier Development Council, J Stengel Consulting, and Philadelphia Insurance to Harris Corners. Existing tenants, National Financial Group, 11 Giraffes, Nestle Corporation, and Novaquest Solutions, have all renewed their leases at Harris Corners. In addition, Quint Events and Aultec, Inc. have both renewed and expanded their leases.

“This has been a great quarter for Harris Corners Corporate Park,” said Pryse Elam, Southeast Regional Director for New Boston Fund. “We are pleased to have so many tenants stay with us and are excited to welcome four new companies to Harris Corners.”

Acquired by New Boston in April of 2011, Harris Corners Corporate Park consists of two five-story buildings built in 2001 and 2006, and one four-story building built in 2000. All part of the 75-acre park, the three buildings total 361,144 square feet of Class-A office space. The property is situated along I-77, a major artery in the metro region, and is located at the last exit north of the city that offers a Charlotte address.

Harris Corners is located in the up-and-coming north submarket of Charlotte. The north submarket is relatively new and experiencing strong growth due to its close proximity to the executive housing market surrounding Lake Norman, the relocation of Lowe’s Home Improvement’s headquarters to the area, the growth of the NASCAR industry, and the completion of I-485, Charlotte’s outer loop interstate.

New Boston was represented by Charlie Swanson, Leasing Agent at Beacon Partners, in all transactions. Luke Daub and Lester Osborn of Piedmont Properties represented Brookdale Senior Living, Jimmy Sanders of Icon Commercial represented National Financial Services Group, Brian Brtalik of Trinity Partners, and now at Thalhimer, represented 11 Giraffes, Chris Schaaf of Jones Lang LaSalle represented Philadelphia Insurance, and Jim Sullivan of ProStead Realty represented J Stengel Consulting.

Tenants are attracted to the Park’s accessibility, extensive parking, building efficiencies, and close proximity to an excellent amenity base. Harris Corners was developed and has been maintained using sustainable building and management practices.

New Boston Fund does not disclose leasing prices.

About New Boston Fund
New Boston is an independent, privately owned real estate investment manager and an industry leader in providing real estate investment, development and management services with a history of strong sponsorship and oversight of its investment funds. New Boston has developed or acquired commercial and residential properties with a cumulative market value of about $4.4 billion, including 23 million square feet of commercial real estate and 7,500 residential units. Our investment vehicles cater to institutional and high-net worth investors by offering value-add and urban real estate investment funds with a focus on diversification and capital preservation. The New Boston Fund: People, Values, Returns.


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