Benefits administration firm Infinisource Holdings Inc. plans to move its corporate headquarters to the Harris Building in Ballantyne Corporate Park, according to people familiar with the matter.
Infinisource announced last month that it would relocate its headquarters to Charlotte from Coldwater, Mich., creating 162 jobs here. The company plans to lease about 15,000 square feet at the Harris Building initially and will have options to expand within the 10-story, 250,000-square-foot building at Ballantyne Corporate Place and Ballantyne Commons Parkway.
Chris Schaaf and Jim Thorp of Jones Lang LaSalle are representing Infinisource, and Barry Fabyan represents The Bissell Cos., owner of Ballantyne Corporate Park.
Asset-management unit grows
Compass Asset Management, an affiliate of Harris Development Group launched last year, is managing 250 properties in the Carolinas for five financial institutions and growing at a healthy clip.
Steve Harris, founder of Harris Development Group, started the third-party asset-management firm with partner Lee Harwell in August. Harwell formerly managed a Charlotte loan-production office for TierOne Bank.
Compass assists banks with their OREO, or “other real estate owned,” which the banks have foreclosed upon and taken ownership of. Compass inspects, secures and maintains the bank-owned properties, both residential and commercial, while overseeing any necessary repairs or maintenance.
Then Compass works with various real estate agents to sell the properties for the banks.
“It just streamlines the whole process,” Harris says, noting Compass has found an audience primarily with community banks and small regional players.
For commercial real estate firms that can gain entry, the bank-owned real estate sector has been a bright spot during a painful downturn.
“We’re just trying to get on the right side of a bad situation,” Harris says.
Turner Construction to relocate
Turner Construction Co. has signed a lease for 20,022 square feet on the fourth floor of the Roxborough Building in the SouthPark area.
The company plans to relocate from 5955 Carnegie Blvd. this spring.
The Roxborough Building is at the corner of Morrison Boulevard and Roxborough Road. The 65,000-square-foot building is owned by a joint venture of the Oregon Public Employees Retirement Fund and Texas real estate investment firm The Lionstone Group, which also owns the Morrison Building and the 6201 Fairview building.
The landlord was represented by Rhea Greene of Trinity Partners. Tripp Guin of CBRE Group Inc. represented Turner.
NEWS & NOTES
Kenny Smith of New South Properties of the Carolinas represented Forest Commercial Bank on its lease of 2,000 square feet at 122 Cherokee Road. The Asheville-based bank recently opened a commercial loan-production office at the building off Providence Road. Robby Kirby and Nolan Mills of Merrifield Patrick Vermillion represented the owners, Thomas B. Miller and Green Acres Inc.