3-building Charlotte office portfolio trades in $78M sale
JLL Capital Markets led sales efforts for Harris Corners One, Two and Three, which are centrally located in the Northeast/I-77 submarket of Charlotte
CHARLOTTE – August 11, 2021 – JLL Capital Markets announced today that it has closed the $78 million sale of Harris Corners, a three-building, Class A office portfolio totaling 365,582 square feet in Charlotte, North Carolina.
JLL represented the seller, Bridge Investment Group, and procured the buyer, CP Group, formerly Crocker Partners.
Harris Corners One, Two and Three are located at 9300, 9115 and 9335 Harris Corners Pkwy. in the Northeast/I-77 submarket of Charlotte. This premier corporate hub has experienced exponential growth in recent years and benefits from unmatched accessibility to the entire Charlotte market.
The portfolio comprises Harris Corners One, which was completed in 2000, and offers 98,734 square feet of space in a four-story building; Harris Corners Two that was completed in 2001 and features 132,345 square feet in five stories; and Harris Corners Three, a five-story, 134,503-square-foot building completed in 2006. Overall, the portfolio is 88 percent leased to a diverse credit-worthy tenant roster representing a broad range of industries, including engineering, consumer products, professional services, financial services, healthcare and technology. Harris Corners has received significant recent capital enhancements and features a market-leading amenity package consisting of a fitness center with locker rooms and showers, a conference room, a Canteen Market and a one-acre courtyard with seating and WiFi. In addition, the building offers community amenities such as farmers markets, food trucks and fitness classes to foster connectivity amongst tenants.
The JLL Capital Markets team representing the seller was led by Senior Managing Director Ryan Clutter, Senior Director Chris Lingerfelt and Associate William Mann.
“Harris Corners proved to be resilient despite COVID headwinds over the past 18-months,” Lingerfelt said. “Overall fundamentals at the property improved during this time and we expect this acquisition to be a strong addition to CP Group’s portfolio.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Bridge Investment Group
Bridge is a leading, vertically integrated real estate investment manager, diversified across specialized asset classes, with approximately $26 billion of assets under management as of March 31, 2021. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. real estate verticals: multifamily, affordable housing, seniors housing, office, development, logistics net lease, logistics properties, debt strategies and agency mortgage backed securities.
About CP Group
Active in the commercial real estate business for over 35 years, CP Group, formerly Crocker Partners, has established a reputation as a premier owner, operator, and developer of office and mixed-use projects throughout the Southeast and Southwest United States. Since 1986, CP Group has acquired and managed over 160 properties, totaling 51 million square feet and representing over $6.4 billion invested. They are currently Florida's largest and Atlanta's second-largest office landlord and rank 29th largest in the United States. Headquartered in Boca Raton, Florida, the firm has regional offices in Atlanta, Miami, Jacksonville, Dallas, and Washington DC. To learn more about the company, visit CPGcre.com.