The Vanguard Group, Inc. | Southeast Regional Headquarters

Property Description

The Property is leased in its entirety to The Vanguard Group, Inc., ("Vanguard"). With more than $1.7 trillion of assets under management, Vanguard is one of the largest retail mutual fund managers in the world. Situated on a 12 acre site in the LakePointe Office Park in Charlotte, North Carolina, the Property consists of two freestanding, five-story office buildings that total approximately 224,574 rentable square feet of space.

Business Essential Attributes

The Property serves as one of Vanguard's three regional headquarters locations in the US, and houses multiple divisions including retail services, wealth management, human resources support, and information technology. Vanguard has occupied the Property since its completion and has expanded its footprint from an original 40,000 square feet to over 224,000 square feet. During its 16-year continuous occupancy, Vanguard has elected to renew its lease multiple times-for an additional 10 years in 2008 and a five-year early renewal in 2012, extending its occupancy through December 2024.

Vanguard also occupies 88,000 square feet of space in two adjacent properties within the LakePointe Office Park, all of which are connected underground via dedicated fiber optic cabling. More than 1,500 Vanguard employees work within these four buildings.

Additional Property Information

The Property was built by Childress Klein Properties, one of the top office developers in the Southeast US, and has been institutionally owned and maintained since its construction. The buildings feature marble entrance lobbies, attractive precast concrete exteriors with virtual floor-to-ceiling glass, a fitness center, and an employee café. The Property is designed, as are the other two regional headquarters in the US, to serve as a data center back-up for Vanguard's firm-wide trading operations; as such, building security and IT infrastructure, including back up power, are above standard. The Property is Energy Star rated.

The Vanguard Group, Inc. | Southeast Regional Headquarters

Charlotte, North Carolina

PROPERTY AT A GLANCE

Property Type: Two Class A Office Buildings
Square Footage: 224,574

Lease Expiration: December 31, 2024
Renewal Option(s):
One 5-year renewal option at fair market rate
Rent Increase(s): 2.0% average annual increases
Tenant: The Vanguard Group, Inc.
Website: www.vanguard.com