Monday, February 18, 2013

New buyer could close on One Wells in April

Fresh off a record-breaking year for uptown office sales, Charlotte's center city continues to attract interest from national and international investors.

Although a sale for One Wells Fargo Center fell apart late last year, another buyer is eyeing the former Wachovia Corp. headquarters, say real estate sources.

Starwood Capital Group and Vision Equities are expected to buy the 42-story tower in April, say people familiar with the transaction.

Connecticut-based Starwood has been active in town lately. Earlier this year it said it bought LakePoint Corporate Center III and LakePointe Corporate Center V buildings.

An Israeli real estate firm had agreed to buy One Wells Fargo for $245 million last year. CBRE Group Inc. is marketing the tower, owned by an affiliate of Childress Klein Properties. Wells Fargo & Co. is the largest tenant, occupying roughly 689,000 square feet, or 70 percent of the building.

CBRE's Ryan Clutter, who is handling the sale, declined to comment on the property or a possible sale.

But Clutter said that in general he is seeing strong interest among investors for office properties in Charlotte and the Carolinas. He said he expects this year will build on last year's strong sales in the Charlotte area.

"Investors have identified the Carolinas as a strong growth market that will continue to attract jobs and companies to the area," he said. "Investors in office buildings will follow job growth and Charlotte is one of the stronger job creators in the Southeast right now.”


Anonymous said...

Economy destroying Real Estate bubble take two.

Courtesy of Helicopter Ben and his bankrupt banks

Clay said...

God Bless President Obama!!!

He inherited the historically bad George Bush disaster and turned it around.

Anonymous said...

Yawn. BizJournal had this last week.

Anonymous said...

Wow Vision Equities adds another million square feet In less then 8 months, do they plan on owning the Queen City?

Elizabeth J. Neal said...

Same question do they plan on owning the Queen City? learn more