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New Owner Buys Chase Corporate Center for $21M

BIRMINGHAM, AL-Talcott Realty Investors of Hartford pays New York City-based Invesco $100.92 per sf for the 210,065-sf class A office building in suburban Hoover.

By Alex Finkelstein | Updated on December 19, 2006

BIRMINGHAM, AL-Talcott Realty Investors of Hartford has acquired one of the Birmingham area’s trophy office properties with the $21.2-million purchase of the two-tower, 210,065-sf Chase Corporate Center in suburban Hoover.

Talcott paid New York City-based Invesco $100.92 per sf, “well below replacement cost,” according to Kevin Markwordt of Transwestern’s Atlanta office who represented Invesco. Built in the mid to late 1980s, Chase Corporate Center is located in the Riverchase office submarket which is anchored by the 200-shop Riverchase Galleria mall, the largest in Birmingham boasting a nine-story atrium.

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