Carlson Real Estate Company Expands to Third Market: Charlotte, North Carolina
November 3, 2006—Carlson Real Estate Company is pleased to announce it has acquired a 730,000 square foot flex and industrial portfolio in Charlotte, North Carolina.
The properties, previously owned by AMB Property Corporation and its affiliates, include South Point Business Park, which features 5 buildings totaling 241,000 square feet and is located near the intersection of I-77 and Carowinds Boulevard, and the 5-building, 488,000 square foot Chemway Industrial portfolio which is located within 3 miles of the I-85/Brookshire interchange. The sale of these properties closed on October 30, 2006.

The transaction was brokered by a national CB Richard Ellis team that included representatives in Atlanta, Dallas and Charlotte.  The Atlanta team was led by Chris Riley and Frank Fallon and the Dallas team was led by Jack Fraker and Randy Baird. The Charlotte team included Ryan Clutter, Anne Johnson and Bryan Crutcher.

With this purchase, Carlson Real Estate Company expands its portfolio from 5 million, to 5.7 million square feet. This is a key strategic acquisition for Carlson Real Estate in its efforts to expand its industrial holdings and establish a regional office in the Southeastern United States. Carlson Real Estate is headquartered in Minneapolis, MN and also has an office in Phoenix, AZ.

“We are excited about this opportunity because of the diversification that it can provide for Carlson Real Estate from both a market and product perspective” stated Wayne Teig, the Carlson Real Estate Company Vice President who spearheaded the initiative. “Additionally, the acquisition allows our company to establish an immediate presence within the various Charlotte submarkets where the properties are located”.

Matt Van Slooten, President of Carlson Real Estate Company concurred. “We couldn’t be happier about establishing an office in Charlotte. It is the type of high-quality, economically diverse city that we feel we can leverage the long-term approach and relationship-oriented service that has been our trademark in Minneapolis and Phoenix.”

Chris Kirby, Vice President currently based in Carlson Real Estate’s Phoenix office, will oversee the new Charlotte operation. Mr. Kirby has functioned in a number of key capacities during his 10 year career with Carlson Real Estate, including property management, asset management, development, acquisitions, and dispositions in both the Minneapolis and Phoenix markets.

Carlson Real Estate Company is an affiliate of Carlson Companies, parent company of Radisson Hotels & Resorts, T.G.I.Friday’s restaurants and other national and global businesses. It is owned by the family of Curtis L. Carlson, founder of Carlson Companies. Since its inception in 1985 Carlson Real Estate Company has specialized in owning and developing high-quality properties and providing exceptional customer service. It has repeatedly been awarded CEL’s “A-List” award for superior tenant survey results and has consistently exceeded the 90th percentile in Gallup Employee Satisfaction surveys. It’s portfolio of Class A office and industrial space includes 4 million square feet in Minneapolis, 1 million square feet in Phoenix and now 730,000 square feet in Charlotte, North Carolina.

For Leasing Information Please Contact:

South Point Business Park:
Colliers Pinkard
John Cashion: (704) 335-4440
Keith Bell: (704) 335-3033

Chemway Industrial
Keystone Partners
Brad Cherry: (704) 927-3013

Carlson Real Estate Company is an affiliate of Carlson Companies, parent company of Radisson Hotels, T.G.I.Friday’s Restaurants, and other national and global businesses, and one of America’s largest privately held companies.  Carlson Real Estate Company is dedicated to developing long-term client relationships by operating with integrity and care, and providing innovative and accommodating solutions.  Its portfolio of office and flex/industrial space concentrated in Minnesota and Arizona exceeds 5 million combined square feet.