Hertz Claims 980,075 SF of Office in Two Cities

SHREVEPORT, LA-A Southern California buyer has taken possession of the 494,922-sf AmSouth Center in the Downtown and simultaneously closed an off-market deal for an office building in Jackson, MS. The marketed asset has sold for $38.5 million, but dealmakers aren’t talking about financials for the second pickup.

Shreveport’s 25-floor AmSouth Center at 333 Texas St. is 86% leased. In Jackson, the buyer bought the 485,153-sf, 22-story AmSouth Plaza at 210 E. Capital St., which is pushing 100% occupancy. Both were built in the 1970s.

Johnny Lamberson, executive vice president with CB Richard Ellis’ Memphis office, says the market for a stable class A building with a bit of upside prompted the Northern California-based seller to bring it to market. He tells GlobeSt.com that when Plaza Investments LLC’s Shreveport building attracted so many qualified offers and Hertz Investment Group of Santa Monica, CA came along that “we felt it would make sense to talk to them about the Jackson opportunity.”