October 19, 2019
By Scott Jensen
Swiss investment firm Partners Group and Florida-based Accesso Partners today jointly announced the $270 million acquisition of North Charlotte’s prized ‘Innovation Park’.
According to their press release, the companies plan to “develop property into a true live-work-play environment incorporating office, residential, retail and hospitality components”. The specific plans includes over a 100,000 more square feet of office space, tens of thousands of new retail square footage, at least 1 hotel, and over 1,000 new residential units.
Innovation Park is currently a 1.8 million-square-foot office complex located in Charlotte’s University City. The 202-acre Property is anchored by Wells Fargo, Allstate, and AXA, which recently announced a major expansion, adding 550 new jobs and investing about $18 million into facility upgrades at their Innovation Park headquarters – making it their largest location in the U.S.
“Innovation Park presented us with an attractive opportunity to enter Charlotte, which is one of the fastest-growing cities in the country,” said Ariel Bentata, Founding & Managing Partner, Investments for Accesso. “Charlotte has continued to experience high population and economic growth and substantial positive net absorption over the past few years, and we are thrilled to establish our presence here with the support of Partners Group. By applying our services platform and establishing the Accesso Club at the Property, we expect to offer a value proposition unlike any other in the area.”