CHARLOTTE, N.C., July 26, 2021 /PRNewswire/ -- CP Group, a
vertically integrated real estate and management firm focused on
the Southeast and Southwest United
States, today announced it had acquired Harris Corners, a
370,000-square-foot office campus in Charlotte, N.C.
The acquisition is a joint venture between CP Group and Siguler
Guff, a leading global, multi-strategy private equity investment
firm based in New York. The Class
A office park comprises two five-story buildings and one four-story
building and is regarded as the most attractive place for companies
in Charlotte's northern suburbs to
locate their offices.
"Charlotte has long been among
the fastest-growing markets in the country and we are excited to
add Harris Corners to our growing portfolio," said Chris Eachus, Partner at CP Group. "Harris
Corners is a first-class property and we look forward to
capitalizing on our operating expertise to ensure it remains among
the city's most sought-after office locations."
Jimmy Zumot, Principal at Siguler
Guff, commented, "This acquisition represents an exciting
continuation of both our partnership with CP Group and our
opportunistic investment strategy that entails acquiring
best-in-class properties that sit at the intersection of value and
growth."
Following the acquisition, CP Group will execute a targeted
enhancement program to common areas and amenities while
implementing its Class A management and tenant experience
programs.
Built between 2000 and 2006, Harris Corners includes modern
amenities for tenants and their employees including a conference
facility, tenant lounge with grab and go café, fitness center, food
truck program, and beautiful central courtyard. The property is
also home to a newly constructed Courtyard/Residence Inn and
multiple restaurants offering walkable lunch options.
The campus is in a prime position to benefit from recent
infrastructure improvements in the area, including the installation
of new toll roads on adjacent I-77 and the completion of the final
segment of I-485, each of which is expected to support the
continued growth of the northern suburbs. Harris Corners boasts a
convenient location between Lake Norman and the Uptown CBD while
offering a drive of fewer than 20 minutes from Charlotte Douglas
International Airport.
"Harris Corners provides a best-in-class office environment for
companies who have chosen to call it home," said Scott Barr, Senior Vice President at CP Group.
"We are excited to have the opportunity to work with those firms by
adding Harris Corners to our portfolio."
CP Group, formerly known as Crocker Partners, is one of the
country's premier owner-operators and developers of commercial real
estate. The organization now employs nearly 200 employees and has a
portfolio spanning more than 14 million square feet. The Harris
Corners acquisition comes on the heels of the purchases of Five
Post Oak Park – a 28-story office tower in Houston, Texas which the firm closed last week
– and One Biscayne Tower and CNN
Center earlier this month.
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, they have regional offices in Atlanta, Miami, Jacksonville, Dallas, and Washington DC. To learn more about the
company, visit CPGcre.com.
ABOUT SIGULER GUFF
Siguler Guff is a multi-strategy
private equity investment firm with over $15
billion of assets under management and 25 years of
investment experience. Siguler Guff seeks to generate strong,
risk-adjusted returns by focusing opportunistically on market
niches. Siguler Guff's core investment strategies include small
business, opportunistic credit, distressed real estate and emerging
markets. Siguler Guff's investment products include direct
investment funds, multi-manager funds and customized separate
accounts targeting specific areas of compelling opportunity.
Founded in 1991 and headquartered in New
York, Siguler Guff maintains offices in Boston, London, Moscow, Mumbai, São Paulo, Shanghai, Seoul, Tokyo,
Hong Kong and Houston, Texas. To learn more about Siguler
Guff, please visit www.sigulerguff.com.
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SOURCE CP Group