Charlotte Office Tower Trades for $72M
The building is fully leased to three tenants.
Estein USA and Vanderbilt Office Properties have acquired Ballantyne Tower, a Class A office building in Charlotte, N.C. SPX FLOW Inc. sold the 260,958-square-foot property for $71.5 million. JLL Capital Markets arranged the transaction.
JLL also marketed the building for sale and procured the buyer. Vanderbilt will manage and operate the property.
According to Yardi Research Data, Goldman Sachs Bank provided a $40 million loan to help facilitate the deal.
SPX acquired the mid-rise building in 2014 for $60 million, Yardi Research Data also shows. Connect CRE reported that JLL began marketing the building for sale in March, with no official asking price but expecting it to fetch about $72 million.
Ballantyne Tower came online in 2011 and is 100 percent leased to Dentsply Sirona, Columbus McKinnon and SERC Reliability Corp. Amenities include a fitness center, a rooftop terrace, men’s and women’s locker rooms, a cafeteria, tenant lounges and a 288-seat auditorium.
Located at 13320 Ballantyne Corporate Place on 5.4 acres, Ballantyne Tower is within 19 miles of the Charlotte Douglas International Airport, providing direct access to the Governor James G. Martin Freeway. The YMCA Ballantyne Arts Center is within 2 miles. The Bowl, a $1 billion development project, is directly across from the tower.
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The JLL team representing SPX in the deal was led by Senior Managing Director Ryan Clutter, Director CJ Liuzzo, Senior Director Daniel Flynn and Associate Chris Irwin.
According to Yardi Research Data, recent completions within the Charlotte office market have been slow, with only a single building being delivered in the first quarter of 2025. The market’s investment volume for the same period was also limited, at just $20 million.
Recent CRE deals in Charlotte
Nearby at 110 East, Coinbase signed a 58,600-square-foot lease to occupy the building’s 18th and 19th floors in early June. Shorenstein Properties and Stiles own the 360,000-square-foot Class A+ mid-rise, which came online a year ago.
In July, IDI Logistics started construction on the Nevada Logistics Center. The warehouse will encompass 164,000 square feet of industrial space with 39 dock doors. The logistics center is expected to come online in the second quarter of 2026.
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