X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

GREENVILE, SC-A special purpose entity indirectly controlled by Lexington Corporate Properties Trust has acquired a three-story, 192,884-sf, class A office building and call center located eight miles southeast of Downtown Greenville, in Brookfield Corporate Center. The property, completed in 2000, serves as a regional headquarters for Verizon Wireless and was 100% leased at the time of sale.

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.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.