Charlotte, North Carolina - Mohr Capital, a privately held real estate investment firm headquartered in Dallas, Texas, has closed on the purchase of a 100,000 square foot office building situated on 13.78 acres in the dynamic University submarket that is seeing dramatic new development with the new light rail extension set to open in March. The building is being re-branded "University Highlands". Mohr Capital was represented by Gary Horn, Chief Investment Officer with Mohr Capital, and Jack Glasgow, Managing Principal with CRESA Carolinas. The property is currently vacant and Mohr Capital has significant capital upgrades planned for the building and will look to expand the facility adding an additional 150,000 square feet to the site. "The asset is in excellent condition and, with the capital improvements we have planned and the limited options in the 250,000 square foot range, we feel the property will be well received in the market", says Gary Horn with Mohr Capital. The property will be leased by Brad Grow with Colliers International and managed by CBRE.
"Mohr Capital has been trying to buy the building for over 18 months and we were lucky enough to secure the building and look forward to presenting this opportunity to the market", Horn says.
"With Brad Grow, we have already visited with many of the top Charlotte brokers regarding the asset and, with the limited inventory in the market, we hope to secure a tenant soon", Horn says.
About Mohr Capital - Mohr Capital is privately held real estate investment company focused on office and industrial facilities. Mohr specializes in acquiring or developing value add properties ranging from $5-$50 million throughout the US. Mohr's most recent acquisition in Charlotte was Arrowpoint 1, which Mohr leased to Carolinas Healthcare Systems on a long-term lease. For additional information on Mohr Capital, please visit our website at mohrcap.com.
About Colliers International Group - Colliers International Group Inc. (NASDAQ and TSX: CIGI) is an industry leading global real estate services company with 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that helps clients accelerate their success. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 12 consecutive years, more than any other real estate services firm. Colliers also has been ranked the top property manager in the world by Commercial Property Executive for two years in a row.
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