VIRGINIA BEACH, Va., June 5, 2017 /PRNewswire/ -- Commercial real estate investment company, CCP Commercial Real Estate, is proud to announce the acquisition of two Class A office buildings located in Greenville, SC and Jacksonville, FL. CCP Commercial Real Estate purchased the properties for $39.2 million.
750 Brookfield Parkway, located in Greenville, SC, was acquired on January 20, 2017. It consists of a single story office building with a total of 106,649 square feet and is at 92% occupancy. The property was purchased for $16,650,000.
8800 Baymeadows Way West, located in Jacksonville, FL, was acquired on April 26, 2017. It consists of a five story office building with a total of 219,000 square feet and is at 81% occupancy. The property was purchased for $22,550,000.
"We are excited to expand our Southeast footprint with the acquisition of 8800 Baymeadows Way West and 750 Brookfield Parkway. The suburban Jacksonville office investment market has been very strong over the last two years, and the Greenville office investment market consistently ranks as one of the highest growth markets in SC. We felt this was a great opportunity to purchase these quality assets at a significant discount to replacement cost," said Jeremy R. McLendon, President of CCP Commercial Real Estate
About CCP Commercial Real Estate: CCP Commercial Real Estate is a real estate investment company based in Virginia Beach, Virginia that owns and operates approximately three million square feet of property. Our focus is on providing our investment clients with superior risk adjusted returns on institutional quality office and industrial properties located in our target markets throughout the Mid-Atlantic and Southeastern United States. We provide our tenants and our investors with superior customer service that values integrity, transparency, accountability, collaboration, and a passion for excellence. The company has a highly tenured team that is accessible to their investor clients 24/7. Experience and expertise allow us to make the right investment decisions that provide solid returns on equity, capital preservation, and long term capital appreciation. For more information, please call (757) 689-1822 or go to http://www.ccpllc.us.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/ccp-commercial-real-estate-expands-their-footprint-in-the-southeast-with-the-acquisition-of-two-new-class-a-office-buildings-in-greenville-sc-and-jacksonville-fl-300468872.html
SOURCE CCP Commercial Real Estate