FOR IMMEDIATE RELEASE
July 20, 2006
HARBOR GROUP INTERNATIONAL PURCHASES
E.ON U.S. CENTER IN LOUISVILLE
An affiliate of Harbor Group International (HGI) of Norfolk, Va., has acquired the 23-story, 287,990 square foot E.ON U.S. Center and adjacent 465-space, seven-story parking garage in Louisville, Ky. from One Corporate Plaza Louisville, Inc. for approximately $42.8 million.
Completed in 1989 as the headquarters for Louisville Gas & Electric Company (LGE), E.ON U.S. Center is located at the corner of Main and Third Streets, adjacent to the Kentucky International Convention Center, and is currently 79% occupied.
“This opportunity came at exactly the right time and fits our investment profile perfectly”, said T. Richard Litton Jr., president of HGI. “With the development of Seventh Avenue along the riverfront and proposed basketball arena directly across the street from E.ON, we are confident that we will be able to increase occupancy at the building and achieve our investment objectives.”
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Harbor Group International, with offices in Norfolk,
New York, Chicago and Tel Aviv, currently own more than
$1 billion worth of properties throughout the United
States. For more information, visit Harbor Group International’s
web page at www.harborgroupint.com.
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