Thursday, November 1, 2012

Parkway close to buying 525 N. Tryon building, sources say

Parkway Properties Inc. could be close to owning its third uptown Charlotte property, sources say.

The real estate investment trust, which announced Wednesday it had bought NASCAR Plaza, is about to finalize a deal to buy 525 N. Tryon St., say sources familiar with the transaction.

The sales price could be around $40 million and the deal could close by Thanksgiving, sources say.

The building, at North Tryon and West Ninth streets, has not been officially on the market.

Parkway made an unsolicited bid for the property, which is owned by a joint venture between Gramercy Capital Corp. and an affiliate of Garrison Investment Group.

Parkway, which is based in Orlando, paid $250 million for the Hearst Tower earlier this year.


Anonymous said...

Can we throw Eastland Mall in as part of a sweetheart deal?

Anonymous said...

i dont understand why everyone is trying to throw in eastland mall to these deals. Just because the building is in charlotte doesnt mean you can just throw it in! oh wait, i forgot everyone is a bunch of ignorant morons around here.

Anonymous said...

@6:45 So let's see The city owns Eastland but they don't own the NASCAR Plaza. How are they related? Oh they aren't They have different owners. How are they going to include it in a deal that has different owners. They aren't
Go to college if one will take you.