CHARLOTTE, NC, November 7, 2018 – Cushman & Wakefield announced today that it has negotiated the sale of Harbinger, a 162,962-square-foot, three-building office portfolio in Greenville, SC.
Cushman & Wakefield Managing Director Rob Cochran, Director Jared Londry and Associate Nolan Ashton represented the seller, TWO Capital Partners, LLC. The buyer CCP Commercial Real Estate, LLC, acquired the asset for $22 million.
The 93% leased office campus is located at the Interstate 385 and North Pleasantburg Drive interchange, minutes from Downtown Greenville. Originally constructed in 1982, the Class A office campus was fully repositioned in 2017 and 2018, with nearly $3.5 million invested in building enhancements including improved building systems, an on-site fitness center and refreshed exterior that make Harbinger a best-in-class suburban asset.
“We simply listened to our customers, existing and prospective tenants, to understand what was wanted in today’s office setting. They told us what they wanted, and we delivered on that feedback,” said Sean O’Brien of TWO Capital Partners.
With direct interstate access, walkability to the planned Swamp Rabbit Trail Expansion and many other nearby amenities, Harbinger is an accessible, modern asset attracting millennials as well as retaining an already impressive tenant roster.
Added Cochran, “Harbinger is one-of-a-kind and unlike any other suburban office product in Greenville. The improvements made by TWO Capital Partners created a synergistic campus that leave you feeling energized.”
Added Londry, “Greenville is emerging as a top target for investment by many private equity funds and some institutional groups as the market continues to show signs of growth and as yields in gateway markets and top secondary markets continue to grow thinner. We expect to see further value appreciation in Greenville’s office sector as demand stays constant and opportunities to enter the market remain few and far between.”