Concord Capital Acquires Majority Stake in 75,000 SF Office Building in Ridgeland, Mississippi
RIDGELAND, MISS. — Concord Capital LLC has acquired a 58 percent controlling interest in 300 Concourse, a 75,000-square-foot, three-story office building in Ridgeland. First National Bankers Bank, Glacier Holdings LLC and FEI Building LLC sold their stakes to Concord Capital for an undisclosed price. Concord Capital purchased three of the office building’s five condominiums.
Located at 300 Concourse Blvd., 300 Concourse is situated within Colony Park, a 430-acre, mixed-use property with four office campuses, a 95-acre neighborhood development, two hotels and a 500,000-square-foot retail center. Built in 2007, 300 Concourse includes tenants such as Hub International, an insurance brokerage company, Wells Marble & Hurst, a law firm and First National Bankers Bank, a commercial bank.
Concord Capital is the acquisition and development arm for commercial real estate industry veterans Breck Hines, Ted Duckworth and John Michael Holtmann. Concord and its affiliates also own the 200, 400 and 600 Concourse buildings. With the acquisition of 300 Concourse, the company’s total owned square footage in the Colony Park development spans 237,000 square feet.
Leigh Pace of Hancock Whitney Bank originated acquisition financing, and Robert Hutchison of Butler Snow LLP provided legal counsel for Concord Capital in the transaction.