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| One University Place, Charlotte, NC |
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| Ryan Clutter |
CHARLOTTE, NC – Holliday Fenoglio Fowler, L.P. (HFF)
announced it has closed the sale of and arranged financing for One University Place, a four-story,
80,891-square-foot office property within the University Place mixed-use
development in Charlotte, North Carolina.
HFF marketed the property
on behalf of the seller, Financial Enterprises III. Origin Capital Partners purchased the asset
for $6.725 million free and clear of debt.
Additionally, HFF assisted the new owner in securing an acquisition loan
through First Tennessee Bank.
One University Place is
situated at 8801 JM Keynes Drive within the University Place mixed-use
development in northeast Charlotte. This
location, between Interstates 77 and 85, is only 1.5 miles from the Interstate
85 corridor, a notable stretch of the interstate that extends from Richmond to
Atlanta.
In addition, the property is connected to the
Shoppes at University Place, which offers a variety of retail, restaurant,
medical and lodging amenities including a Hilton hotel, Dick’s Sporting Goods,
Office Depot, Sam’s Club, TJ Maxx, Applebee’s, Chick-fil-A and Love Sushi. The Carolinas Medical Center and the
University of North Carolina at Charlotte are also a short distance from the
property.
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| Travis Anderson |
Originally built in 1986,
One University Place is 66 percent leased to a mix of health care, technology,
consulting and business services tenants.
The largest tenants at the property are: Bayada Home Health Care and
University Radio.
The HFF investment sales
team representing the seller was led by senior managing director Ryan Clutter.
HFF’s debt placement team
representing the borrower was led by senior managing director Travis Anderson and associate director Cory Fowler.
“One University Place
represents a compelling investment opportunity in a thriving corner of the
University area of Charlotte. This
office submarket is the tightest it has been in many years and in 2017, the
light rail line extension will open up in immediate proximity to this building,
further connecting the asset to other major business corridors of Charlotte,” said
Clutter.
“We received considerable
interest in the asset from the marketplace as investors were drawn to these
attractive characteristics of One University Place.”
“We are experiencing very
strong investor demand for Charlotte office buildings as the city’s economy
continues to be exceptionally strong and Charlotte’s office submarkets tighten
with less space available. Rent growth
is now occurring in most areas of the city, drawing more and more capital to Charlotte
offerings. We anticipate this trend to
continue in 2016 with an active selling environment,” 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 | www.hfflp.com
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