(3.7.18) HFF Brokers $62.5M Sale of Office Portfolio in Metro Charlotte

(REBusinessOnline, March 7, 2018)

The Park – Huntersville in Huntersville, N.C., includes five buildings totaling 395,586 square feet.

HUNTERSVILLE, N.C. — HFF has brokered the $62.5 million sale of The Park-Huntersville, a five-building office portfolio totaling 395,586 square feet in Huntersville, roughly 15 miles north of Charlotte. The buildings are part of a master-planned mixed-use community with more than 3 million square feet of office, industrial, flex, retail, medical and hospitality space. Ryan Clutter, Scot Humphrey and Chris Lingerfelt of HFF arranged the transaction on behalf of the seller, U.S. Trust – Bank of America N.A., and procured the buyer, Atlanta-based OA Development. Patterson Real Estate Advisory Group arranged acquisition financing through Principal Real Estate Investors on behalf of OA. The portfolio includes The Alexander Building at 13620 Reese Blvd. E.; The Kemp Building at 13801 Reese Blvd. W.; The Latta Building at 9930 Kincey Ave.; The Reed Building at 9920 Kincey Ave.; and The Storrs Building at 10115 Kincey Ave. At the time of sale, the portfolio was 91 percent leased to tenants such as Stanley Black & Decker, Amerock, Apex Tool, Ensemble Health Partners and Kellogg’s. The Spectrum Cos. was retained to lease and manage the properties.