Search
 

JV Pushes SE Expansion Plans With $50M Buy

CHARLOTTE, NC-CIP Real Estate and Alex Brown Realty continue their regional spending spree by acquiring 597,725 sf of business park space.

By Natalie Keith | Updated on March 26, 2008

CHARLOTTE, NC-A joint venture of Irvine, CA-based CIP Real Estate and Baltimore-based Alex Brown Realty has acquired a business park portfolio with a total of 597,725 sf for $50 million.

The properties include the 395,989-sf Coffey Creek International Business Center at Beam Road and Cross Beam Road in Charlotte, the 110,017-sf Hickory Grove Business Park at E. WT Harris Boulevard in Charlotte and the 91,719-sf Lake Norman Commerce Center at Catawba Avenue and Liverpool Parkway in Cornelius, NC, which is located just north of Charlotte.

“These are the types of properties that we like in an area that we like,” CIP vice president and regional director Jared Rogers tells GlobeSt.com of the acquisition. “We’re really driven by the opportunity.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.