Thursday, August 30, 2018

HFF announces sale of newly constructed Class A office asset in Charlotte, NC

500 East Morehead Apartments, Charlotte, NC
Ryan Clutter

 CHARLOTTE, NC –– HFF announces the sale of 500 East Morehead, a 178,336-square-foot, newly constructed, Class A office building in Charlotte, North Carolina.

The HFF team represented the seller, Beacon Partners, and procured the buyer, a member company of Zurich North America (“Zurich”), advised by Zurich Alternative Asset Management, LLC (“ZAAM”), its alternative investment adviser.

Completed in 2017, 500 East Morehead is one of Charlotte’s premier office assets featuring high-quality new construction, best-in-class tenant buildouts, sweeping views of Uptown Charlotte and an attached four-level parking deck. 

Scott Humphrey

The seven-story property also features a market-leading amenity package highlighted by a state-of-the-art fitness center with locker rooms and showers, a shared executive conference room, three shared outdoor terraces, a 900-square-foot rooftop terrace and three popular restaurants on the ground floor.

  Tenants at the fully leased trophy asset include Elliott Davis, CB&I, Lennar Multifamily Communities, Guggenheim Real Estate and Hood, Hargett & Associates. 

The three dining concepts are: The Packhouse, Joe and Nosh and Capishe.  500 East Morehead is situated in the Morehead Corridor, Charlotte’s fastest growing area, and has easy access to Uptown, Midtown, South End and Dilworth.

Chris Lingerfelt
  The transit-oriented property is just two blocks from the Carson Boulevard light rail station and the Charlotte Rail Trail, and has regional connectivity via Interstates 277, 77 and 85, the region’s three primary transportation arteries.

The HFF investment advisory team representing the seller consisted of senior managing director Ryan Clutter, senior director Scot Humphrey, director Chris Lingerfelt and director Zack Drozda. 

The ZAAM team was led by Roy Rosenbaum, director of Acquisitions, and Sean Bannon, managing director and head of U.S. Real Estate.

“The sale of 500 East Morehead Street represents a noteworthy inflection point for the Carolinas market and Charlotte in particular,” Clutter commented. 

Zack Drozda

 “This sale demonstrates that Charlotte is now pricing in line with other sought-after U.S. markets such as Austin and Denver.  We believe pricing will continue to reset to new levels throughout the Carolinas as more and more institutional capital sources continue to target the region.”

“500 East Morehead was heavily pursued by a multitude of capital sources,” Lingerfelt added.  “This amenity-rich asset boasts one of the best locations in the city and will be an exceptional investment for years to come.”

Holliday GP Corp. ("HFF") is a North Carolina licensed real estate broker.

Roy Rosenbaum
Beacon Partners is a Charlotte-based commercial real estate firm specializing in the development, acquisition, leasing and management of industrial and office properties.  

Beacon Partners leases and manages over 9.5 million square feet of space throughout the Carolinas.

  For more information on Beacon Partners, please visit or call (704) 597-7757.

ZAAM is the alternative investment adviser to Zurich and its affiliates that is responsible for Zurich’s hedge fund, private equity and U.S. real estate investments.

Sean Bannon

 ZAAM runs a national core and core-plus acquisition program out of New York which targets office, retail, industrial and multi-family assets valued between $15 million and $100 million throughout 20 major markets in the United States. 

ZAAM currently manages approximately $2.3 billion of commercial real estate exposure in the Unites States for its various affiliated balance sheets.

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry.

  For more information, please visit or follow HFF on Twitter @HFF.


HFF Director, Public Relations
(617) 338-0990

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