IN-DEPTH: Cousins buys North Carolina office property for $215m
Cousins Properties has purchased Fifth Third Center in Charlotte, N.C., for $215 million, or $317 per square foot.
Parmenter Realty Partners was the seller of the 678,715-square-foot office building. CBRE represented the seller. Parmenter acquired Fifth Third Center in 2012 for $175 million.
Fifth Third Center is the eighth-tallest building in Charlotte. The 30-story office building at 201 N. Tryon St., formerly known as the IJL Financial Center, was built in 1997. It includes an attached 1,030-space parking structure.
The building was designed by Smallwood, Reynolds, Stewart, Stewart & Associates.
Fifth Third Center is 83 percent occupied. Major tenants include the Bank of Am