CBRE Group, Inc. arranged the sale of Three Water Ridge in Charlotte, North Carolina. Patrick Gildea and Will Yowell exclusively represented the seller in the transaction. The property sold to Sentinel Real Estate Corporation.

Three Water Ridge is a 109,609-sq.-ft. office building located at 2118 Water Ridge Parkway. The Class-A property is part of a two-million-sq.-ft. corporate park that features walking trails, lakes and distinctive landscaping.

Three Water Ridge is strategically located just off West Tyvola Road in the heart of the premier I-77 Corridor submarket, Charlotte’s largest suburban office submarket. As of Q2 2016, the submarket saw 14 consecutive quarters of increasing occupancy and a three-year rental rate increase of nearly 19 percent. The property is 100-percent occupied by a single tenant with a long-term lease.

Mr. Gildea commented, “We continue to witness tremendous interest in high-quality, Class-A office product in the Charlotte market and throughout the Carolinas from national institutional investors.”

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.