The Cornerstone Headquarter development is a 12-floor office project in Oniru with ±12,000sqm of lettable office space. Located on the site adjacent to the Four Points by Sheraton Hotel, this project will be another addition to the pipeline of large commercial developments on Chief Yesuf Abiodun Road including the Art Hotel and Trinity Tower.
It is being developed by Cap Phoenix Cornerstone, an SPV owned by the Capital Alliance Property Investment Company (CAPIC) (a $165m fund with a 10-year life cycle) and Cornerstone Insurance. CAPIC was established in February 2008 by African Capital Alliance to invest in real estate and real estate related opportunities in West Africa and has existing investments including Onitsha Mall, multiple Protea Select Hotels, Mansard Place and Alliance Place, which is still under construction.
The Cornerstone HQ will have 8 floors of office space and 4 levels of parking that will accommodate ±208 cars in total. Site clearing and piling works began in late 2015 and the project is now nearing completion.
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