Pair of Charlotte office buildings snapped up by out-of-state investor for $46 million
A pair of SouthPark office buildings have been sold for $46.25 million to a Boston-based real estate firm.
CHARLOTTE, N.C. (THE CHARLOTTE OBSERVER) - A pair of SouthPark office buildings have been sold for $46.25 million to a Boston-based real estate firm.
Taurus Investment Holdings announced Thursday morning that it had acquired the two-building office park — One & Two Fairview Center — for $46.25 million from CapRidge Partners, a Texas-based real estate investment firm.
The buildings at at 6302 and 6230 Fairview Road total 182,841 square feet combined. The last purchase price of the buildings was $39.25 million in July 2019, according to Mecklenburg County property records.
The buildings are 92% leased to 19 firms including Finance of America, Zapata architecture and engineering company, and MGC Insurance Defense, according to Taurus.
“Charlotte has benefited from tremendous growth driven by employers seeking access to the area’s educated talent pool, high quality of life and lower cost of doing business,” said Taurus CEO Peter Merrigan in the news release. He said it’s the company’s first acquisition in Charlotte.
SouthPark has several corporate and regional headquarters like Nucor and Coca-Cola Consolidated, as well as high-end restaurants, shopping centers, luxury apartment communities and hotels. One & Two Fairview are less than 10 miles from uptown Charlotte and Charlotte Douglas International Airport.
“One & Two Fairview Center are extremely well located... and appeal to a diverse set of tenants,” Sam Flood, managing director at Taurus, said in the news release.
Trinity Partners handled the transaction on behalf of CapRidge Partners.
Taurus, a 40-year-old company, has purchased and developed more than 54 million square feet of residential, office, industrial, retail and other commercial real estate assets throughout the world, with a total value of over $8 billion.
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