Charlotte, NC (April 14, 2016) – CBRE’s Charlotte,
NC, office has finalized the sale of Fairview Center in Charlotte, NC. CBRE’s
Patrick Gildea and Anne Vulcano led the sale on behalf of the seller, Beacon
Partners. The properties, located at 6302 Fairview Road and 6230 Fairview Road,
sold to Atlanta, GA-based Fairlead Commercial Real Estate for $33.75 million on
April 8, 2016.
Fairview Center consists of two office buildings
totaling 183,654 square feet in Charlotte’s top-performing office submarket. The SouthPark submarket continues to exhibit strong
growth. SouthPark Class-A rents have increased by over 14% in the last four
quarters, over which time the submarket witnessed an overall Charlotte
market-topping 245,141 square feet of absorption.
Fairview Center is highly visible along Fairview Road—one
of the main thoroughfares of SouthPark—with well over 40,000 vehicles passing
the buildings daily. The buildings’ anchor tenants include McAngus
Goudelock & Courie, United States Secret Service and ZAPATA.
“Sophisticated investors like Fairlead are
recognizing SouthPark's high barriers to entry, rapidly rising rental rates and
limited opportunity for new construction. There have been very few sales in
SouthPark during the current cycle, yet robust interest continues in this
phenomenal submarket,” commented Patrick Gildea.
Group, Inc. CBRE 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 (in terms
of 2015 revenue). The Company has more than 70,000 employees (excluding
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consulting. Please visit our website at www.cbre.com.