HFF Closes Sale of Multi-Tenant Office Building in Charlotte

by Gabriel Culcsar

6101 Carnegie Blvd., Charlotte, N.C.

Charlotte, N.C.—HFF closed the sale of 6101 Carnegie Blvd., a Class A, multi-tenant office building located in the SouthPark neighborhood of Charlotte. Senior Managing Director Ryan Clutter and Director Scot Humphrey of HFF led the marketing efforts for the seller, RREF Property Trust, and also procured the buyer, ICM Realty Group.

Situated on a 2.77-acre site, the five-story, 107,504-square-foot property is located in an area with intense retail activity, offering easy access to the city’s central business district and the Charlotte Douglas International Airport via Interstates 77 and 485. The building features 485 grade-level parking spaces, according to Yardi Matrix, and is 88 percent leased to tenants such as Morgan Stanley/Smith Barney, United HealthCare, Zurich and Reliance Standard Life Insurance.

“Office rents have risen significantly over the last few years throughout Charlotte, but in urban, infill locations like SouthPark this trend has been even more pronounced. This favorable dynamic is very attractive to investors motivating them to aggressively pursue quality assets like 6101 Carnegie. We believe the market fundamentals in Charlotte will remain strong into 2017 and capital will continue to flow into the city seeking quality investments,” Clutter said in prepared remarks.

Image courtesy of HFF