{"id":1004071370,"date":"2013-04-19T06:36:18","date_gmt":"2013-04-19T14:36:18","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=119729"},"modified":"2020-04-13T01:18:33","modified_gmt":"2020-04-13T09:18:33","slug":"starwood-picks-up-one-wells-fargo-center-trophy-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/starwood-picks-up-one-wells-fargo-center-trophy-tower\/","title":{"rendered":"Starwood Picks Up One Wells Fargo Center Trophy Tower"},"content":{"rendered":"

By Eliza Theiss, Associate Editor<\/em><\/p>\n

Leading private investment firm Starwood Capital Group has announced that one of its \"\"<\/a>affiliates, New Jersey-based Vision Equities, in partnership with Mountain Lakes, has acquired One Wells Fargo Center\u2014one of Charlotte\u2019s trophy office buildings. The off-market purchase was made at a yet to be disclosed price.<\/p>\n

Previous owner Childress Klein Properties will stay on to handle property management and leasing under a long-term agreement with the new owners. The office tower had been under Childress Klein\u2019s ownership for 25 years.<\/p>\n

“We are pleased to be acquiring one of the premier office buildings in Charlotte’s central business district. 1 Wells Fargo Center is a welcome addition to our portfolio, as it is a high-quality asset with a strong tenant roster that will generate significant cash flow for years to come,” declared Starwood Capital Senior Vice President Mark Keatley.<\/p>\n

The high-quality Class AA office building is located in Charlotte\u2019s central business district and features one million square feet of office space. The property is 98 percent-leased to long-term tenants. Seven of the property\u2019s nine largest tenants, occupying 92 percent of the total rentable area, have been in One Wells Fargo Center for over 20 years and have average remaining leasing contracts averaging 7.5 years. An added bonus of the property is that circa 70 percent of its in-place income derives from investment grade tenants.<\/p>\n

Amenities at the 42-story office tower include a seven-level underground parking garage of approximately 1,100 parking spaces; a 24-hour on-site security with controlled visitor and tenant access; shops and service providers such as a coffee house, dry cleaner and sundry store; a YMCA; casual and fine dining venues; and part of Wachovia Center\u2014a hub of offices, restaurants, shops, venues and businesses spanning three city blocks.<\/p>\n

For more Charlotte market data click here<\/strong>.<\/a><\/p>\n

Image courtesy of Kozo via Wikimedia Commons<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Leading private investment firm Starwood Capital Group has announced that one of its affiliates, in partnership with Mountain Lakes, New Jersey-based Vision Equities has acquired One Wells Fargo Center, one of Charlotte’s trophy office buildings.<\/p>\n","protected":false},"author":49,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1582,21742],"tags":[1815],"class_list":["post-1004071370","post","type-post","status-publish","format-standard","hentry","category-charlotte","category-latest","tag-national"],"acf":[],"yoast_head":"\nStarwood Picks Up One Wells Fargo Center Trophy Tower - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/starwood-picks-up-one-wells-fargo-center-trophy-tower\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Starwood Picks Up One Wells Fargo Center Trophy Tower\" \/>\n<meta property=\"og:description\" content=\"Leading private investment firm Starwood Capital Group has announced that one of its affiliates, in partnership with Mountain Lakes, New Jersey-based Vision Equities has acquired One Wells Fargo Center, one of Charlotte’s trophy office buildings.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/starwood-picks-up-one-wells-fargo-center-trophy-tower\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-04-19T14:36:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-13T09:18:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/04\/Wachoviahq.jpg\" \/>\n<meta name=\"author\" content=\"Eliza Theiss\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/starwood-picks-up-one-wells-fargo-center-trophy-tower\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/starwood-picks-up-one-wells-fargo-center-trophy-tower\/\",\"name\":\"Starwood Picks Up One Wells Fargo Center Trophy Tower - 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