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Corporex Acquires Former 200,000-SF Toyota Headquarters in Erlanger

Investment Company Pays $9.3M for the Atlantic Corporate Center in the Circleport Business Park
February 20, 2018
Corporex acquired the 200,000-square-foot Atlantic Corporate Center it developed in 1996 in Erlanger, KY from Toyota Motor North America for $9.25 million, or approximately $46 per square foot.

The Class A, four-story office building at 25 Atlantic Ave. is located in the 650-acre, mixed-use Circleport Business Park. Major tenants in the office park include MSE Express America, Home Builders Assn. of Northern Kentucky, Automation System and DHL Express.

Toyota’s manufacturing and engineering headquarters opened in 1996 at the Atlantic Corporate Center. In April 2014, the firm announced it would be closing its Erlanger facility as part of its relocation to a new North American headquarters in Plano, TX.

Brett Lowery, a sales and leasing associate of Corporex, will handle the leasing efforts of the vacant Atlantic Corporate Center.

Douglas Altemuehle, Darin Armbruster, Keith Yearout and James Vondran of Newmark Knight Frank represented the seller and procured the buyer.

Please see CoStar COMPS #4128113 for more information on this transaction.
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