Concord Capital, LLC announced the purchase of the 600 Concourse Building in Ridgeland, establishing the company as the second largest office landlord along Highland Colony Parkway. Concord Capital is the acquisition and development company of industry veterans Ted Duckworth, Breck Hines and John Michael Holtmann.
Concord and their affiliates also own 200 and 400 Concourse, and this acquisition brings their total square footage owned in the Highland Colony submarket to 163,000 square feet.
“The 600 Concourse property follows our acquisition criteria, which is to acquire stabilized, income-producing assets at a discount to replacement cost, in highly-visible, master-planned locations that are supported by first-class retail, restaurants, hotel, residential and other office space,” said Breck Hines. “This is an attractive, well-constructed property that we look forward to owning for years to come.”
Constructed in 2007, 600 Concourse is the home office for the law firm Copeland Cook Taylor and Bush, P.A. Additional tenants include Feild Cooperative Association, First Commercial Bank and Carroll Bufkin Law Firm.
“Sitting at the corner of Highland Colony Parkway and the new Colony Park Boulevard, 600 Concourse enjoys excellent access to Interstate 55, and is across the street from numerous dining and retail options at The Township at Colony Park,” says Ted Duckworth. “It makes for a great place from which to do business for our tenants and their employees, and we believe this strong location only gets better with time.”
Property management and leasing for 600 Concourse will be provided by Duckworth Realty, Inc. Duckworth Realty is focused on commercial leasing, brokerage and management of office and retail properties throughout the Southeast, and is operated by Concord Capital principals: Duckworth, Hines and Holtmann.
The 73,000 square foot, Class A office building is located at 1076 Highland Colony Parkway in Ridgeland.
Financing for the acquisition was provided by Leigh Pace at Origin Bank. Robert Hutchison of ButlerSnow LLP advised the purchasers, and Copeland Cook Taylor and Bush advised the sellers.
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