Hines Puts 625KSF Charlotte Plaza on the Market
- Sep 26, 2014
The Charlotte Plaza office high-rise is up for sale, making it the third uptown office tower to hit the market this year, reports the Charlotte Business Journal. Charlotte Plaza’s owner, Hines, has listed the asset with Cushman & Wakefield.
Located at 201 South Colle Street, the 27-story tower features 625,026 square feet of space. Floor plates average 23,038 square feet. Amenities include an eight-level 814-space parking facility, a landscaped reflective pool, a fountain, outdoor artwork and fine dining restaurant on the top floor, which offers sweeping views of the Queen City. The property is also LEED registered.
Major tenants include Capgemini, Citco, Grant Thornton, Robert Half International and Charlotte School of Law. The latter occupies 250,000 square feet, which it leased in 2012, according to the Charlotte Business Journal. According to the same source, occupancy is at 91 percent. The property is connected to Charlotte’s Overstreet Mall, which offers a bevy of retail and restaurant options.
Charlotte Plaza is owned by Hines Charlotte Plaza L.P., a subsidiary of Hines. It was acquired by Hines in 2007 on behalf of its U.S. Core Office Fund L.P. Hines is also the property manager. The downtown office tower was built in 1981 and designed by HLM Design and JPJ Architects Inc. with construction by McDevitt & Street. It underwent renovation in 1994 by Metric Constructors. According to the Charlotte Business Journal, Charlotte Plaza’s parking facility can support a three-level, 357-parking space expansion.
Two other Uptown office towers have been sold this year. Fifth Third Center was picked up by Cousins Properties for $215 million, while Epic UK has secured the 15-story Ally Center for $109 million.
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Image courtesy of Hines