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Tuesday, May 22, 2012 Mixed Use
Mike Burkard, Will Yowell and Ryan Clutter of CB Richard Ellis brokered the transaction. The mixed-use property contains two eight-story buildings: One and Two Piedmont Town Center. They contain 488,589 square feet with 397,000 square feet devoted to office space and 92,000 square feet for retail space. The buildings are located at 4720 Piedmont Row Drive. Piedmont Natural Gas currently occupies 120,000 square feet in the first building and the occupancy rate of both buildings is expected to be 95 percent by the end of the year, according to Burkard. Other tenants include 1st Metropolitan Mortgage, Afton Capital Management, AIG, Coldwell Banker, Dolcetto Wine Room, Starbucks and the YMCA. The office portions of the buildings sold for $133.3 million while the retail brought $37.7 million. Burkard is a senior VP with CBRE and joined the company in its Washington, D.C., office in 1987 and then moved on to join the Investment Properties division in Charlotte in 2000. He has been a top five producer in the Carolinas since 2003. Yowell is in charge of CBRE Atlanta's Investment Properties Institutional Group and was the Atlanta metro region Rookie of the Year in 1990. He has appeared in publications like the Atlanta Business Chronicle and the Atlanta Journal Constitution. Clutter specializes in office and industrial real estate in the Investment Properties division in Charlotte. Prior to joining that group, he was a member of the Carolina Corporate Services Group. He has been with the company since 1996. Address: 4720 Piedmont Row Drive, Charlotte, N.C. Size: 488,589 square feet Filed Under: Mixed Use E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
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