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Lincoln Property acquires major Charlotte developer

Legacy Union is one of Lincoln's signature projects in Charlotte. ( Melissa Key/CBJ)

CHARLOTTE — Lincoln Property Co. is buying Charlotte developer The Spectrum Cos. for an undisclosed sum, effective immediately, the companies confirmed with our partners at The Charlotte Business Journal.

Dallas-based Lincoln is pairing its Carolinas division — started by local developer Johnny Harris in 1999 — with Spectrum in a move that the firms say will allow them to accelerate development and make more acquisitions. Johnny Harris is a legacy partner at Lincoln; his son, Johno Harris, is senior executive vice president of Lincoln and leads the company’s North and South Carolina division.

Lincoln employs 260 people in North and South Carolina. Spectrum’s 43 employees will move into Lincoln’s existing headquarters space at Piedmont Town Center in SouthPark. Lincoln’s headquarters occupies two floors and 20,000 square feet.

Read the full story on CBJ’s website here.

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