Lexington Corporate Properties Trust is a self-managed and self-administered real estate investment trust that acquires, owns and manages a portfolio of net-leased office, industrial and retail properties. The acquisition price was not immediately available, but the entity, Lexington Greenville LLC, did secure a $13.975-million fixed-rate, eight-and-a-half year securitized acquisition loan through Bank of America, CMBS, a conduit lender. Todd Armstrong, a senior director in the Dallas office of Holliday Fenoglio Fowler L.P. arranged the financing.
Verizon's 17-acre regional headquarters is located just off of Interstate 385, about five minutes south of Interstate 85. "The I-385 corridor represents the lion's share of the 3.5 million-square-foot Greenville suburban office market," says Armstrong. "Of the total inventory, approximately 1.9 million square feet is class A space with about one million square feet located in Brookfield Corporate Center. Brookfield is a strategic location-of-choice in the market."
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