Friday, March 29, 2013
NEW BOSTON FUND LEASES 74,180 SQUARE FEET OF CLASS-A OFFICE SPACE IN CHARLOTTE
Harris Corners Corporate Park welcomes three new tenants and renews three leases
Charlotte, N.C. – March 29, 2013 – New Boston Fund, Inc., a private equity real estate investment, development and management firm, announced today that it has secured three new leases and renewed two existing tenants’ leases for a total of 74,180 square feet of Class-A office space at Harris Corners Corporate Park. These multi-year leases bring the occupancy rate at Harris Corners to 90 percent.
Monumental Life, North American Transmission Forum, Wood Forest National Bank, and THR Property Management will all be moving into Harris Corners this spring. In addition, Bank of America renewed their lease for three years. Polymer Group has also renewed its lease and expanded by an additional 10,065 square feet.
“We are extremely pleased with the incredible amount of leasing success we’ve experienced at Harris Corners so far this year,” said Pryse Elam, Southeast Regional Director at New Boston Fund. “We are thrilled that the property’s premiere corporate location and rich amenity base continues to attract and retain such quality tenants.”
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 was developed and has been maintained using sustainable building and management practices.
Harris Corners offers fitness and locker room facilities, building efficiencies, jogging trails, extensive parking and is in close proximity to an excellent amenity base. The property is very accessible, situated along I-77, a major artery in the metro region, and is positioned at the last exit north of the city that offers a Charlotte address.
New Boston was represented by Charlie Swanson of Beacon Partners in all transactions. Bank of America was represented by Ann Fleming Powell at Lincoln Harris LLC, Polymer Group by Chase Monroe and Bryan White at Jones Lang LaSalle, Monumental Life by Allan Schwender at SA Commercial, and THR Property Management by Cristy Nine at Cresa.
Harris Corners is located in the up-and-coming north submarket of Charlotte, which is currently experiencing strong growth due to its close proximity to the executive housing market surrounding Lake Norman, the growth of the NASCAR industry, and the completion of I-485, Charlotte’s outer loop interstate.
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 $3.5 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. www.newbostonfund.com
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