HUNTSVILLE, AL–A six-office portfolio hits the market as Transwestern announces it will sell the 1.03 million-square-foot asset.
The two-portfolio offering, currently the largest in Alabama and one of the largest in the southeast United States, will be marketed as a single investment opportunity as well as marketed separately.
The CRP I Office Portfolio, in Cummings Research Park, is made up of three office properties totaling 518,899 square feet. It is 100% leased to tenants including Northrop Grumman Space & Missions Systems and Toyota Motor North America, Inc. Cummings Research Park is the second-largest research park in the country and the fourth-largest in the world.
The Huntsville Office Portfolio encompasses three office properties totaling 512,589 square feet. It is currently 94.2 percent leased to tenants including Regions Bank and BAE Systems. The area has a Class A vacancy rate of 2%.
Transwestern Managing Directors John Bell and Kevin Markwordt, Associate Director Todd Syprett, and Investment Specialist Nick Diaz represents the seller.
Transwestern, a privately held real estate firm, has 35 U.S. offices and more than 221 offices in 37 countries through strategic alliances with France-based BNP Paribas Real Estate and Canada-based Devencore
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