News
PLATINUM LISTING
November 28, 2012
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| A prime Cumberland-area office tower is up for sale. CBRE Global Investors tapped CBRE's Will Yowell, Justin Parsonnet and Jay O'Meara to list Platinum Tower, the 313k SF Class-A office building in the Galleria submarket off of Interstate North Parkway. And, boy, has the tower come a long way. If you take your time machine back to 2002, the building was picked up in delapidated condition by Cannon Equities at 62% occupancy. The group renovated the tower and by 2006 resold it to CBRE f or $50M, or nearly $160/SF. Now, the tower is 95% leased, with such tenants as Walmart, Lincoln Financial and Siemens. It's unknown as of press time how much CBRE is seeking for the tower. |
