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CP Group Acquires Office Park in North Carolina, USA
Tuesday 27 July 2021

US-based vertically integrated real estate and management firm CP Group has acquired Harris Corners, a 370,000-square-foot office campus in Charlotte, North Carolina, the firm said.

The acquisition is a joint venture between CP Group and Siguler Guff, a 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.

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.

CP Group, formerly known as Crocker Partners, is an owner-operator and developer of commercial real estate.

The organization now employs nearly 200 employees and has a portfolio spanning more than 14m 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.

Since 1986, CP Group has acquired and managed over 160 properties, totaling 51 m square feet and representing over USD 6.4bn invested.

Siguler Guff is a multi-strategy private equity investment firm with over USD 15bn 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.

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.
Date Published: 27/07/2021