Sub Markets

Property Sectors

Topics

Atlanta & Southeast News In Your Inbox

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Atlanta & Southeast  + Southeast  + Office  | 

Crown Claims Corning HQ Facility in Charlotte for Record Price

Corning Optical Communications’ headquarters, a newly-constructed, Class A office building totaling 182,169 square feet in Charlotte, traded hands for $58.5 million. The buyer was an affiliate of Costa Mesa, CA-based Crown Realty & Development, while the seller was Beacon Partners. Crown closed the all-cash transaction in three weeks.

The build-to-suit five-story property is located on 11.7 acres in Riverbend Village, a mixed-use development near Interstate 485 and NC 16. Delivered in 2019, the asset features a state-of-the-art build-out that offers amenities including employee lounges, outdoor patio seating areas, a café with grab-and-go options, on-site walking trails and a “green roof” with seating.

The building is fully leased for the next 14 years to Corning Optical Communications, the largest operating segment of Corning Inc.

Cushman & Wakefield’s Rob Cochran, Jared Londry, and Nolan Ashton represented the seller. Londry says, “We had a huge response to this offering, with more than 150 interested buyers. We received 30 offers and ended up with a record-breaking price, despite the current market uncertainties.”

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Connect With Crown Realty & DevelopmentConnect With Beacon PartnersConnect With Cushman & Wakefield’s Londry

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
New call-to-action