{"id":1004113208,"date":"2015-02-10T14:05:52","date_gmt":"2015-02-10T22:05:52","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=323797"},"modified":"2020-04-28T01:21:45","modified_gmt":"2020-04-28T09:21:45","slug":"dilweg-cos-pays-25m-for-172ksf-midtown-plaza","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dilweg-cos-pays-25m-for-172ksf-midtown-plaza\/","title":{"rendered":"Dilweg Cos. Pays $25M for 172KSF Johnston Building"},"content":{"rendered":"

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

\"\"<\/a><\/p>\n

The Johnston Building<\/p>\n<\/div>\n

One of Charlotte\u2019s oldest skyscrapers, the 17-story Johnston Building has traded hands. The 172,000-square-foot office tower was picked up by The Dilweg Cos. for $25.3 million, reported The Charlotte Observer<\/a><\/em>. Durham-based Dilweg acquired the Uptown property from limited liability partnership 212 South Tryon. CBRE represented the seller.<\/p>\n

According to The State<\/a><\/em>, the property is currently 84 percent leased. Its tenant roster includes arlisle & Gallagher Consulting Group, Office of the Comptroller of the Currency, Montreat College and Fifth Third Bank. Trinity Partners previously handled leasing.<\/p>\n

Originally opened in 1924 at a height of 15 stories, the Johnston Building was at the time Charlotte\u2019s tallest building. Designed by William Lee Stoddart, the historic property was developed by Hunkin-Conkey Construction. Two more floors were added in the late 1920s.<\/p>\n

The Johnston Building is not Dilweg\u2019s first Charlotte asset. Its local office portfolio includes the 32-story, 329,930-square-foot 121 West Trade (formerly knowns as the Interstate Tower) office tower in Uptown Charlotte and the 110,000-square-foot Park Abbey office building on Park Road. Dilweg also owns One and Two SouthPark Center. The 10-story One SouthPark\u00a0 features 143,025 square feet of space, while the five-story Two SouthPark Center comprises 94,993 square feet.<\/p>\n

Charlotte\u2019s office market enjoyed heightened interested from investors in 2014, reaching $1.1 billion in sales, notably higher than 2013\u2019s $875 million, reported the Charlotte Business Journal<\/a><\/em>.<\/p>\n

Click here<\/a> for further Charlotte market data<\/em><\/p>\n

Image via thejohnstonbuilding.com<\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

One of Charlotte’s oldest skyscrapers, the 17-story Johnston Building has traded hands. The 172,000-square-foot office tower was picked up by The Dilweg Cos. for $25.3 million, reported The Charlotte Observer. Durham-based Dilweg acquired the Uptown property from limited liability partnership 212 South Tryon. CBRE […]<\/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":[],"class_list":["post-1004113208","post","type-post","status-publish","format-standard","hentry","category-charlotte","category-latest"],"acf":[],"yoast_head":"\nDilweg Cos. 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