LOS ANGELES – June 21, 2018 – CBRE Global Investors has acquired 615 South College, a recently constructed, 375,865-sq.-ft. trophy office tower in Charlotte’s Uptown submarket, on behalf of a separate account client. Developed by Portman Holdings in 2017, 615 South College is currently 84 percent leased with an existing high-quality tenant roster.
The 18-story property is located at the center of Uptown’s Stonewall Corridor with the Charlotte Convention Center in its immediate vicinity and direct access to I-277 and the LYNX light rail line. The building is connected to the area’s largest hotel, The Westin, adding to the state-of-the-art property’s extensive amenity package. Other features include open functional floor plans, 10-foot finished ceiling heights, floor-to-ceiling glass windows with panoramic views, multiple two-story balconies and a parking garage with 1,456 spaces. Anne Vulcano and Joe Franco with CBRE will lease 615 South College, and CBRE will provide property and construction management services for the building.
“We believe strongly in the Charlotte region, in particular the robust and growing Central Business District,” said Tom Kirby, Senior Director of Commercial Operations for CBRE Global Investors. “615 South College’s building design offers an urban office environment that caters to today’s modern users, and the property fits perfectly into our client’s investment strategy of owning high-quality, core assets in A+ locations in growth markets. Uptown’s attractiveness, coupled with Charlotte’s overall success story with two decades of unprecedented population growth, make this property a very exciting investment for our client.”
About CBRE Global Investors
CBRE Global Investors is a global real asset investment management firm with $104.2 billion in assets under management* as of March 31, 2018. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2017 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 80,000 employees (excluding affiliates) and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real asset-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real asset-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors' presence in the global real asset market, and its calculation of AUM may differ from the calculations of other asset managers.