Raleigh, NC-based Highwoods Properties, Inc., has agreed to acquire 650 South Tryon at Legacy Union in Charlotte’s Uptown submarket for a total expected investment of $203 million, including $3.9 million of anticipated leasing capital expenditures to bring the property to stabilization.

650 South Tryon, which delivered in late 2020 and is currently 78% leased, is a LEED gold-certified office building encompassing 367,000 square feet. 650 South Tryon is immediately adjacent and connected to Highwoods-owned Bank of America Tower at Legacy Union.

Second, the Highlands has agreed to acquire a mixed-use development site located at 1426 South Tryon Street in the Charlotte’s South End submarket for $27 million. 1426 South Tryon is tentatively planned for a mixed-use development consisting of approximately 300,000 square feet of future office and 250 apartment units. The site’s existing low-rise building totaling 24,000 square feet is 57% leased to customers on short-term leases.

The post Highwoods Properties to Acquire Charlotte Tower for $203M, Mixed-Use Site for $27M appeared first on Connect CRE.

Gillian Executive Search is a leader in Commerical Office Development, Financing, Design and Construction recruiting. www.gessearch.com