With the assistance of Cushman & Wakefield, Beacon secured an affiliate of Crown Realty & Development as a buyer for the approximately 182,200-square-foot building, which serves as the headquarters of Corning Optical Communications. And despite uncertainty amid the pandemic, investors remain keen on the city’s office market, as evidenced by the Corning Optical headquarters transaction, which traded at the local record-breaking sum of approximately $321 per square foot. “Charlotte was and will be on the top of investors’ lists due to the diversity of the economy and its strong population and job growth,” said Cochran. - Learn More. Kicks Off Project Expansion in Charlotte, Charlotte-Area Shopping Center Changes Hands for $14M, Anchor Health Grows Charlotte Presence With $50M Buy, Charlotte Commercial Real Estate Wrap-Up – October 2020, How Coronavirus Is Impacting Office Leasing. The Class A Office building was completed in 2019 and features a total of 182,170 Sqft. “The fact that Corning Optical is a tech tenant was a huge attraction as well.”, Corning Optical’s home occupies roughly 12 acres at the center of the 115-acre Riverbend Village mixed-use development in Northwest Charlotte. Cochran noted, “It is one of the most technologically advanced buildings in Charlotte with amenities that employees demand.”. Evolv™ Hardened Connectivity Solutions. There are 2 office spaces for lease in the Mountain Island neighborhood, totaling 5,269 Sqft of available office space. READ ALSO: How Coronavirus Is Impacting Office Leasing, In marketing the asset for sale, Cushman & Wakefield welcomed a great deal of interest from the investment community and ultimately fielded 30 offers before selling to Crown. Corning Optical’s home occupies roughly 12 acres at the center of the 115-acre Riverbend Village mixed-use development in Northwest Charlotte. Top office transactions in the first quarter of 2020 included NorthPond Investors’ acquisition of the historic Latta Arcade Building for $7.9 million, or $269 per square foot, and South Street Partners’ purchase of Coliseum Centre 3, 5 & 6 for $102 million, or $208 per square foot. Gensler designed the LEED-qualified office property, which is clad in View Dynamic Glass smart window technology and metal panels to reflect the history Corning Optical parent company Corning Inc.’s nearly 170-year history in the glass industry. Beacon Capital Partners has sold the newly developed office property at 4200 Corning Place in Charlotte, N.C., in a $58.5 million, all-cash transaction. Beacon Capital Partners sold the property less than one year after completing the $38 million build-to-suit for the fiber optics solutions provider. The next big thing in preconn is here, and it's as easy as #PushClickConnected. JLL to Lease, Reposition Los Angeles Medical Campus, Cushman & Wakefield Closes New Jersey Warehouse Sale, Tishman Speyer JV Raises $1B for Life Science Projects, Elion Partners Expands West Coast Last-Mile Portfolio, CBRE Global Investors Buys 1.4 MSF Industrial Portfolio, Arizona MHC, RV Portfolio Changes Ownership, Cohen Asset Management Pays $37M for Los Angeles Warehouse, Vantage Data Centers Expands Canadian Footprint, First Extended Stay Hotel Opens at Columbus Airport, Life Company Commercial Mortgage Returns Stabilize: Trepp, Top 5 Office Projects Under Construction in Charlotte, Spectrum Cos. “Buyers were attracted to a number of things, including the strength of the tenant and its long-term commitment, and the quality of the building,” Rob Cochran, managing director in Cushman & Wakefield’s Capital Markets group, told Commercial Property Executive. Corning Optical Communications Headquarters is located at 4200 Corning Place in the Mountain Island neighborhood, NC, Charlotte, 28216. But it may be even more modern on the inside, in its approach to technology and in particular, wireless connectivity. Corning Optical, a fiber optics solutions provider and division of materials science innovation giant Corning Inc., occupies the property under a lease that is scheduled to expire in 2034. Corning Optical announced in 2016 that it would move its headquarters from Hickory to Charlotte, and would move up to 650 employees into the 11.7 … With Balfour Beatty aboard as general contractor, Beacon wrapped up development of 4200 Corning as a build-to-suit for Corning Optical at a cost of $38 million in the third quarter of 2019. The building has the capacity to accommodate 650 employees, who can avail themselves of a long list of amenities that includes indoor and outdoor lounges, a café, on-site walking trails and a green roof with seating. Learn More. CONNECTS US ALL. Privacy Statement, 5 Tips for Safe Holiday Celebrations at Manufactured Housing Communities, Rialto Sells Former Sears in Northeastern Philly for $29M, Paxion Capital Acquires Stake in Patrinely Group, Ford Unveils Plans for 30-Acre Detroit Redevelopment, Brewer Breaks Ground on Tampa Mixed-Use Destination, Addressing World Challenges With Sustainable Measures: Q&A. It remains to be seen just how COVID-19 will impact the U.S. office sector over the long term, but Charlotte is poised to withstand challenges. Corning Optical Communications, which relocated to Charlotte from Hickory, committed to Riverbend Village in 2016, and the project developers said the move was a … Step inside our Corning Optical Communications Headquarters to see how we deployed our smart in-building network. © 2020 - Commercial Property Executive Corning offers a wide variety of products and solutions for your network needs. The company, a $3.5 billion segment of New York-based Corning Inc. (NYSE:GLW), struck a … Our on-line catalog will help you find the products you need and create a bill of materials list. Corning Optical Communications is relocating to northwest Charlotte from Hickory. The new Corning Optical Communications headquarters in Charlotte, North Carolina boasts a gleaming, modern exterior.