A London-based investment firm has acquired the Lash Group’s new Fort Mill headquarters building.
The $67.1 million-deal transfers ownership of the 247,834-square-foot building to 90 North, which partnered with Sidra Capital – a Saudi firm – as a strategic adviser. The five-story building, which Lash Group opened earlier this month with a ribbon-cutting ceremony, had been owned by a joint venture of developers Childress Klein and Clear Springs Development Co.
Lash Group relocated from Charlotte to Fort Mill, bringing 1,200 jobs to the Kingsley Park development just off Interstate 77. The company plans to double its local workforce by 2020.
The head of 90 North’s North American operations said the deal represents the acquisition of a “trophy” property occupied by a tenant with sterling credit.
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“This acquisition is yet another example of 90 North identifying and executing a ‘trophy’ credit focused acquisition,” said Daniel Cooper, a partner at 90 North, in a statement. “AmerisourceBergen, parent company of Lash Group, is ranked number 16 on the Fortune 500 list, and epitomizes the definition of ‘trophy credit.’ Our ability to acquire this building under a long term net lease agreement, with renewal options, fulfills our investment strategy.”
The company acquired a Philadelphia office campus a few weeks ago for $123 million, and plans to expand its American footprint.
Rob Cochran and Jared Londry, with Cushman & Wakefield’s Charlotte office, brokered the transaction on behalf of the seller.