LRC Properties and Cornerstone Real Estate Advisors have purchased the 101 Independence Center office building in uptown Charlotte for $107.75 million.
The Charlotte Business Journal reported earlier this year that LRC and Cornerstone were under contract to buy the 20-story tower, located at the northwest corner of Trade and Tryon streets. The building totals 565,694 square feet and is 84 percent occupied. Bank of America Corp. is the largest tenant, occupying 261,000 square feet in a lease that…Office tower in uptown Charlotte sells for $108 million
LRC Properties and Cornerstone Real Estate Advisors have purchased the 101 Independence Center office building in uptown Charlotte for $107.75 million.
The Charlotte Business Journal reported earlier this year that LRC and Cornerstone were under contract to buy the 20-story tower, located at the northwest corner of Trade and Tryon streets. The building totals 565,694 square feet and is 84 percent occupied. Bank of America Corp. is the largest tenant, occupying 261,000 square feet in a lease that…
With its development activity picking up, Levine Properties has decided to outsource the management of its parking portfolio in Charlotte's First Ward to Preferred Parking, effective today.
Levine had previously managed its 16 surface parking lots in First Ward through its subsidiary, Secure Parking. Daniel Levine, president of Levine Properties, says the company has its hands full with apartments, office buildings, hotels and retail. Levine told me earlier this week that he is planning a dual-branded…
Lincoln Harris expects to start the work early next year to transform the former Charlotte Golf Links property in south Charlotte into Rea Farms.
The Charlotte real estate firm won a rezoning for the 194-acre site, a former golf course at Providence and Ardrey Kell roads, last week. The rezoning clears the way for a major mixed-use project with up to 700,000 square feet of office space, 250,000 square feet of retail space, 500 multifamily units, 300 senior-living units, 200 single-family homes,…
Developer Peter Pappas is planning a mixed-use development at the Charlotte Regional Realtor Association’s 5.3-acre property in midtown Charlotte, according to real estate records.
The CRRA listed the land for sale last year as a potential redevelopment property. The site is at the intersection of Kenilworth Avenue and Greenwood Cliff, and Pappas is planning a multi-building development at the property, according to records.
Pappas, CEO of Pappas Properties and multifamily firm Terwilliger Pappas,…
Home prices in Charlotte were up 5.4 percent in February from a year earlier, according to a prominent monthly index released Tuesday.
That continues the market's hot start in 2015, with the annual growth rate exceeding the 4.3 percent increase posted in January, also a strong month for the local area.
February's figure also puts the city ahead of national trends, the latest Standard & Poor’s Case-Shiller Home Price Index shows.
Charlotte's month-to-month increase in home prices improved as…
Two Charlotte apartment properties have sold for nearly $40 million:
• White Point Partners, a real estate investment firm based in Charlotte, acquired the 202-unit Tryon Park at Rivergate complex for $27.7 million. The property is in the Steele Creek area, near the intersection of South Tryon Street and Steele Creek Road.
White Point specializes in the acquisition, development and repositioning of multifamily, retail and self-storage real estate properties throughout the South.
The seller,…
Still struggling to improve its operations, Campus Crest Communities Inc. (NYSE:CCG) is retaining management consulting firm Alvarez & Marsal North America and has placed two executives from that company at the helm.
Campus Crest's board has approved the appointment of David Coles as interim chief executive and John Makuch as chief financial officer. Both men are managing directors for Alvarez & Marsal, and will be filling roles left vacant after the resignation of the Charlotte company's CEO and…