Cousins Properties Expands Charlotte Footprint with $329M Acquisition
The price is a “meaningful discount to replacement cost.”
WALNUT CREEK, CA—Due to a rebirth of the city, office properties are going like hotcakes these days. One of the most well-known assets, Growers Square, recently sold to Rockwood Capital for an undisclosed price, although reports placed the number at just south of $100 million. However, the price was a record-breaking one in terms of square footage, GlobeSt.com learns.
Located at 1646-1676 California Blvd., the class A three-building office project encompassing 195,372 square feet benefits from a user base representing a broad variety of industries. Some of the property’s high-profile tenants include John Muir-Mt. Diablo Health System, Pacific Coast Bankers Bancshares and BKF Engineers.
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The price is a “meaningful discount to replacement cost.”
Torrey Square posted the lowest base rent per-leased-square-foot in Whitestone’s wholly-owned portfolio. Since its IPO in 2010, Whitestone has improved its base rent per leased square foot by over 80%.
A continued housing shortage is driving multifamily.
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