Recent commercial real estate transactions
Transactions - AUGUST 23, 2019

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Recent commercial real estate transactions

by Lisa Yan

Transactions reported this week include the sale of an office building in Charlotte, N.C.

Highwoods Properties agreed to acquire the 33-story Bank of America Tower in Charlotte for $436 million. The acquisition of the 841,000-square-foot building is set to close in November.

“Bank of America Tower at Legacy Union, an iconic new office building squarely in the center of Uptown Charlotte’s growth, is a solid bull’s eye with regard to our long-stated acquisition criteria: prime infill location in a top-tier submarket, limited or no near-term rollover exposure, and a financially sound customer base,” said Edward Fritsch, Highwoods Properties CEO.

It is considered to be the most expensive office-building sale in state history. To date, the sale of One Wells Fargo Center in uptown Charlotte for $284 million in 2016 was the largest office building transaction in the state, according to commercial real estate firm CBRE.


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