HFF closes $30.5 million sale of Gateway Center in Charlotte’s central business district
CHARLOTTE, NC – July 22, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $30.5 million sale of Gateway Center, a 10-story, 310,745-square-foot, multi-tenant office building in Charlotte’s central business district.
HFF represented the seller, KBS Real Estate Investment Trust, Inc., in the sale of the property to an undisclosed purchaser.
Gateway Center is located at 901 West Trade Street between West Fourth and Trade Streets in the heart of downtown Charlotte. This location is close to Bank of America Stadium, home to the NFL Carolina Panthers; Time Warner Cable Arena; BB&T Ballpark; Levine Center for the Arts and numerous dining and retail options. The transit-oriented property is within walking distance of the Greyhound and Light Rail stations and has easy access to Interstates 277, 77 and 85. Bank of America and Johnson & Wales University are two of the tenants at the 90-percent-leased property, which features a sundries shop and a 149-space, below-grade parking facility. A 1.622-acre parcel, currently used as a 29-space surface lot, was also part of the sale.
The HFF investment sales team representing the seller was led by senior managing director Ryan Clutter, director Scot Humphrey, managing director Ralph Smalley, and associate director Christopher Lingerfelt.
“We received tremendous interest in the Gateway Center offering further demonstrating the appeal and national attention Charlotte and the Carolinas are receiving from institutional investors,” commented Clutter. “Well-located, urban assets that offer notable upside potential for investors are currently in high demand and we believe this pattern is poised to continue for the foreseeable future.”
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a North Carolina licensed real estate broker.