Charlotte, NC – January 4, 2017 - CBRE Group, Inc. has
arranged the sale of Mallard Creek Center on Cliff Cameron Drive in Charlotte,
NC.Patrick Gildea, Will Yowell and Ralph Oldhamexclusively represented the
sellers, CBRE Global Investors and the State of Utah, in the transaction. The
property sold to Charlotte-based Stream Realty Partners on December 23, 2016.
Mallard Creek Center, totaling 259,226 square feet, is positioned within
University City, Charlotte’s second-largest employment hub with approximately
73,000 employees. University City contributes an annual economic impact of more
than $8 billion to the regional economy. Also located in University City is UNC
Charlotte; its enrollment is more than 27,000.
Mallard Creek Center is located in Charlotte’s Northeast submarket,
which has witnessed 12 consecutive quarters of declining vacancy. The
submarket’s rental rate has increased 5.8% in the last year.
“The University submarket has
become one of the strongest in Charlotte throughout the last few years and we
are pleased to see continued regional investment from local ownership,” said
Patrick Gildea, Executive Vice President, CBRE.
Anchor tenants include Cognizant, Corus360, Farm Bureau Insurance and
About CBRE Group,
Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in
Los Angeles, is the world’s largest commercial real estate services and
investment firm (based on 2015 revenue).
The Company has more than 70,000 employees (excluding affiliates), and
serves real estate investors and occupiers through more than 400 offices
(excluding affiliates) worldwide. CBRE
offers a broad range of integrated services, including facilities, transaction
and project management; property management; investment management; appraisal
and valuation; property leasing; strategic consulting; property sales; mortgage
services and development services.
Please visit our website at www.cbre.com.