Hines acquires Carillion building in Charlotte, NC (US)

The Atlanta office of Hines has announced that a subsidiary of Hines-Sumisei U.S. Core Office Fund, L.P. (Core Fund) has acquired the Carillon building in Charlotte, NC, from an undisclosed seller. The Core Fund is an investment vehicle organized by Hines and Sumitomo Life Realty (N.Y.), Inc. to acquire a geographically diverse portfolio of core office buildings in the U.S. Hines represented the Core Fund in the transaction, and Hines will assume management and leasing responsibilities at the property.

Carillon is a 25-story, Class A office tower located along West Trade Street, one block from the main intersection of Trade and Tryon Streets, in the downtown submarket of Charlotte, NC. Carillon contains approximately 469,000 rentable ft² and was completed in 1989. The building is currently 99% leased to a strong tenant roster which includes: Cadwalader Wickersham & Taft; Deloitte & Touche; Crosland, Barry, Evans Joseph & Snipes; the US Attorneys Office; LS3P Associates; and IBM.

"The acquisition of Carillon quickly expands Hines' presence in one of the strongest office submarkets in the Southeast, following our recent acquisition of the 625,000-ft² Charlotte Plaza," said Hines Vice President Kurt Hartman. "The combination of these two acquisitions will allow us to offer the market greater choices for their office requirements. Hines is excited to be expanding in Charlotte and looks forward to future opportunities."

"We are very pleased to be able to expand our presence in a growing and dynamic market such as Charlotte," said Charles Hazen, president of the Core Fund.

Including this acquisition, the Core Fund owns interests in a portfolio of 23 office properties throughout the U.S. consisting of approximately 12.4 million ft² of rentable area.

Source: Hines

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