FOR IMMEDIATE RELEASE
May 4, 2007
HARBOR GROUP INTERNATIONAL ACQUIRES OFFICE PROPERTY IN UNITED KINGDOM
An affiliate of Harbor Group International, L.L.C. (HGI), based in Norfolk, Virginia, has acquired the Contact Centre in Glasgow, Scotland, from aAim (Active Asset Investment Management) for ₤33.6 million ($66.52 million). The approximately 100,000 square foot office building is 100% leased to Norwich Union, the United Kingdom’s largest insurance company, on a 25 year lease. Glasgow is Scotland’s largest city.
The property, built in 2006, is located adjacent to Harper Collins, on the northern outskirts of Glasgow. The property contains one story with a mezzanine floor. It is situated on a 7.7 acre site and contains 370 car parking spaces.
The transaction reflects HGI’s ongoing initiative to invest in international markets, particularly the United Kingdom and other Western European markets. In September 2006, HGI acquired Gemini Centre, a 66,729-square-foot office building located in Milton Keynes, England. “We will continue to focus on European markets as we further diversify our overall investment portfolio” said T. Richard Litton, Jr., President of HGI.
Harbor Group International, L.L.C. holds an investment portfolio in excess of $1.8 billion, including over 6 million square feet of office space throughout the United States and the United Kingdom, and more than 12,000 apartment units in the U.S. The Company maintains offices in Norfolk, New York, Chicago, London, and Tel Aviv. For more information, visit www.harborgroupint.com. |
