CHARLOTTE, N.C. — Boston-based New Boston Fund has acquired the three office buildings comprising Charlotte's Harris Corners Corporate Park for an undisclosed amount. The seller was local company Beacon Partners. While the acquisition price was not disclosed, local reports are claiming the sale price to be approximately $50 million.
The building include One, Two and Three Harris Corners, which were constructed in 2000, 2001 and 2006, respectively. One Harris Corners is a four-story, 97,628-square-foot building. Two and Three Harris Corners are both five stories and contain 130,187 and 133,329 square feet, respectively.
The three properties had a combined occupancy of 88 percent at the time of closing. Major tenants at the buildings include Polymer Group, Diagnostic Devices, Bank of America, Carrier Corp., Nestle and Husqvarna, which relocated its North American headquarters to the park last year.
CB Richard Ellis' Charlotte office represented Beacon Partners in the deal. The brokerage team consisted of Ryan Clutter, Adam Basch and Patrick Gildea. The transaction marks New Boston's first office acquisition in the Charlotte market. It currently has multifamily holdings in the market but is in the process of divesting of those assets.
“We're really excited to be in the city in a big way,” says Pryse Elam, regional director for the Southeastern United States for New Boston Fund. “We're in the north side of the city, which is an emerging, fast-growth area. Fundamentally, we like the prospects for the city and look to do a lot more business there.”
Harris Corners Corporate Park is located on 75 acres at the interchange of Interstate 77 and WT Harris Boulevard. Beacon Partners is the park's original developer and will continue to manage and lease it on behalf of New Boston Fund.
— Coleman Wood