Friday, December 25, 2015

HFF closes on the sale of 121 West Trade Street in downtown Charlotte, NC

                                    121 West Trade Street Office Building, Charlotte, NC

CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of 121 West Trade Street, a 32-story, 330,483-square-foot, Class A office building in Charlotte, North Carolina. 

HFF marketed the property on behalf of the seller, a partnership controlled by The Dilweg Companies.  LPC Realty Advisors I, LP, an affiliate of Lincoln Property Company, in conjunction with their local affiliate Lincoln Harris, purchased the asset on behalf of a pension fund client.

121 West Trade Street is situated in the heart of Charlotte’s downtown, within walking distance of nearly all of the city’s amenities and attractions including The EpiCentre, Spirit Square Center for the Arts, Discovery Space Center, Time Warner Cable Arena, the Levine Center for the Arts, and the new Gold Line streetcar system, connecting to the entire light rail system.

 The property has efficient connectivity to Interstates 277, 77 and 85, and is within 20 minutes of the Charlotte Douglas International Airport and 15 minutes from SouthPark, a popular Charlotte shopping destination.  121 West Trade Street’s largest tenant is Chicago Bridge & Iron. 

Ryan Clutter
Additional tenants include SAS Institute, Caudle & Spears and Brookwood Associates.  The property also features the Charlotte City Club on the top two levels and parking on levels two through nine. 

The HFF investment sales team representing the seller was led by senior managing director Ryan Clutter.

“The market aggressively pursued 121 West Trade Street as buyers realized the building’s potential to harness very strong rents in the future,” said Clutter.

 “121 West Trade Street’s irreplaceable location at Trade and Tryon Street, in the center of downtown Charlotte, position the building very favorably with new and existing tenants, as this asset is poised to outperform for its new owner for many years to come.”

“We are currently experiencing the strongest demand in the market for value-add office buildings located in strong CBD’s like downtown Charlotte.  121 West Trade Street was no exception as considerable capital aggressively competed for this asset. 

“The sale of this exceptional building further demonstrates the strong investment sentiment for Charlotte and for best of class buildings in the market.  We believe investor demand for assets of this nature will continue to be robust in the year ahead,” added Clutter.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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