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| 101 Independence Center, Downtown Charlotte, NC |
CHARLOTTE, NC – Holliday Fenoglio Fowler, L.P. (HFF)
announced today that it has closed the $107.75 million sale of 101 Independence Center, a
565,694-square-foot, Class A office tower in downtown Charlotte, North
Carolina.
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| Kelly Kuykendall |
HFF exclusively marketed the property on behalf of the
seller, KBS Real Estate Investment Trust, and their asset manager, Gramercy
Property Trust Inc.
A joint venture
between LRC Properties, LLC (LRC) and an undisclosed institutional capital
source purchased the asset free and clear of existing debt.
LRC now owns and manages approximately 3.4
million square feet of space in Charlotte and is also the third largest
industrial owner in Charlotte.
101 Independence Center is situated on 1.83 acres at The
Square, the intersection of Trade and Tryon Streets that comprise the center of
downtown Charlotte.
The building is two
blocks from the CTC Lynx light rail station, the terminus of the new Lynx Gold
Line that runs 10 miles with 34 stops.
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| Ryan Clutter |
Renovated in 2001,
the 20-story tower features a concierge, food court, restaurants and
three-story atrium connecting the tower to the adjacent 451-key Charlotte
Center City Marriott hotel.
Additionally, the building has a connected three-story
underground parking garage with 320 spaces and an adjacent 268-space parking
lot.
101 Independence Center is 82.2 percent leased to office
tenants Bank of America; Northeastern University; Clifton Larson Allen LLP; G4S
Solutions; Grier Furr and Crisp PA; Robinson, Bradshaw and Hinson and Smith
Moore Leatherwood LLP in addition to retail tenants Newk’s Eatery, Starbucks,
Uptown Sundries, Subway, Tin Tin Box & Noodles and Showman’s.
The HFF investment sales team representing the seller was
led by senior managing director Ryan
Clutter and real estate analyst’s Zachary
Drozda, Kelly Kuykendall and Ryan Eklund.
“101 Independence Center received very strong interest from
the marketplace, attracting a deep bench of investors,” Clutter said.
“Charlotte has truly evolved into a dynamic
market for institutional capital. Given
the strong investor appeal of Charlotte currently, we anticipate a very active
selling environment through the remainder of 2015 with many notable
institutions seeking quality investments in the city.”
For a complete copy
of the company’s news release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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