| Acquisition Date: |
December 2001 |
| Project Size: |
152,000 square feet |
| Acquisition Cost: |
$17.4 million |
Acquisition Cost
per SF: |
$114 |
| Major Tenants: |
McKesson Information Solutions, Hartford Fire Insurance |
| Date Sold: |
March 2007 |
| Buyer: |
Triple Net |
| Sales Price: |
$26 million |
| Sales Price per SF: |
$171 |
| Investor IRR: |
28% |
Deal Highlights:
Resource Square Four is one of five Class A office buildings located within the University Research Park that is designed to be home to more than 3 million square feet of office space. Resource Square has easy access to the two main highways, I77 and I85, leading to the Charlotte CBD and Charlotte Douglas International Airport.
The property was over 90% leased, and Mainstreet executed a lease extension with one of the largest tenants, McKesson Information Solutions.
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