FOR IMMEDIATE RELEASE
May 23, 2000
HARBOR GROUP INTERNATIONAL ACQUIRES NASHVILLE’S
SUNTRUST BANK BUILDING IN MAJOR TENNESSEE PURCHASE
Company Continues Aggressive Acquisition Strategy
 Harbor
Group International (HGI) of Norfolk, Virginia has acquired
Nashville’s 20 story SunTrust Bank Building as port
of a portfolio containing three Class “A” office
buildings and one parking garage in Tennessee. HGI purchased
the three properties from Prime Group Realty Trust, a New
York Stock Exchange REIT, at a purchase price of $20.3
million.
The other properties are all in Knoxville. They are Centre
Square II, a 6-story downtown office building, the nearby
Hilton Hotel Parking Garage, and The Weston, a 3-story
office structure in suburban Knoxville.
“The Tennessee Office Portfolio is an exciting addition
for Harbor Group International as we continue to implement
our acquisition strategy in cities worldwide,” said
Jordan E. Slone, Harbor Group International Chairman and
CEO.
Nashville’s SunTrust Bank Building contains 250,566
square feet. Built in 1968 and renovated in 1999, it is
92% occupied. Major tenants include SunTrust Bank, Salomon
Smith Barney, the Better Business Bureau and the prestigious
Nashville City Club.
Centre Square II, built in 1988, has 91,426 square feet
of leasable office space. Current tenants include Paine
Webber, New York Life, and Heathsource.
The Hilton Hotel Parking Garage is located one block away
from Centre Square II and is adjacent to the Hilton Hotel
in downtown Knoxville. It contains 395 income-producing
parking spaces.
The stately Weston, a 3-story office building built in
1988, contains 34,638 square feet. It is currently fully
occupied and serves as the regional headquarters for Talbots,
a major women’s clothing retailer.
Harbor Group International owns office buildings, shopping
centers, and apartment complexes throughout the United
States and the United Kingdom.
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