CP Group and Siguler Guff buy Harris Corners

CP Group and Siguler Guff have acquired Harris Corners, a Charlotte, North Carolina-based office campus.

CP Group and Siguler Guff have acquired Harris Corners, a Charlotte, North Carolina-based office campus. No financial terms were disclosed. The office park comprises two five-story buildings and one four-story building.

PRESS RELEASE

CHARLOTTE, N.C., July 26, 2021 /PRNewswire/ — CP Group, a vertically integrated real estate and management firm focused on the Southeast and Southwest United States, today announced it had acquired Harris Corners, a 370,000-square-foot office campus in Charlotte, N.C.

The acquisition is a joint venture between CP Group and Siguler Guff, a leading global, multi-strategy private equity investment firm based in New York. The Class A office park comprises two five-story buildings and one four-story building and is regarded as the most attractive place for companies in Charlotte’s northern suburbs to locate their offices.

“Charlotte has long been among the fastest-growing markets in the country and we are excited to add Harris Corners to our growing portfolio,” said Chris Eachus, Partner at CP Group. “Harris Corners is a first-class property and we look forward to capitalizing on our operating expertise to ensure it remains among the city’s most sought-after office locations.”

Jimmy Zumot, Principal at Siguler Guff, commented, “This acquisition represents an exciting continuation of both our partnership with CP Group and our opportunistic investment strategy that entails acquiring best-in-class properties that sit at the intersection of value and growth.”

Following the acquisition, CP Group will execute a targeted enhancement program to common areas and amenities while implementing its Class A management and tenant experience programs.

Built between 2000 and 2006, Harris Corners includes modern amenities for tenants and their employees including a conference facility, tenant lounge with grab and go café, fitness center, food truck program, and beautiful central courtyard. The property is also home to a newly constructed Courtyard/Residence Inn and multiple restaurants offering walkable lunch options.

The campus is in a prime position to benefit from recent infrastructure improvements in the area, including the installation of new toll roads on adjacent I-77 and the completion of the final segment of I-485, each of which is expected to support the continued growth of the northern suburbs. Harris Corners boasts a convenient location between Lake Norman and the Uptown CBD while offering a drive of fewer than 20 minutes from Charlotte Douglas International Airport.

“Harris Corners provides a best-in-class office environment for companies who have chosen to call it home,” said Scott Barr, Senior Vice President at CP Group. “We are excited to have the opportunity to work with those firms by adding Harris Corners to our portfolio.”

CP Group, formerly known as Crocker Partners, is one of the country’s premier owner-operators and developers of commercial real estate. The organization now employs nearly 200 employees and has a portfolio spanning more than 14 million square feet. The Harris Corners acquisition comes on the heels of the purchases of Five Post Oak Park – a 28-story office tower in Houston, Texas which the firm closed last week – and One Biscayne Tower and CNN Center earlier this month.

ABOUT CP GROUP
Active in the commercial real estate business for over 35 years, CP Group, formerly Crocker Partners, has established a reputation as a premier owner, operator, and developer of office and mixed-use projects throughout the Southeast and Southwest United States. Since 1986, CP Group has acquired and managed over 160 properties, totaling 51 million square feet and representing over $6.4 billion invested. They are currently Florida’s largest and Atlanta’s second-largest office landlord and rank 29th largest in the United States. Headquartered in Boca Raton, Florida, they have regional offices in Atlanta, Miami, Jacksonville, Dallas, and Washington DC. To learn more about the company, visit CPGcre.com.

ABOUT SIGULER GUFF
Siguler Guff is a multi-strategy private equity investment firm with over $15 billion of assets under management and 25 years of investment experience. Siguler Guff seeks to generate strong, risk-adjusted returns by focusing opportunistically on market niches. Siguler Guff’s core investment strategies include small business, opportunistic credit, distressed real estate and emerging markets. Siguler Guff’s investment products include direct investment funds, multi-manager funds and customized separate accounts targeting specific areas of compelling opportunity. Founded in 1991 and headquartered in New York, Siguler Guff maintains offices in Boston, London, Moscow, Mumbai, São Paulo, Shanghai, Seoul, Tokyo, Hong Kong and Houston, Texas. To learn more about Siguler Guff, please visit www.sigulerguff.com.