{"id":1004199795,"date":"2017-12-08T06:56:22","date_gmt":"2017-12-08T14:56:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004199795"},"modified":"2022-12-08T15:53:37","modified_gmt":"2022-12-08T23:53:37","slug":"mohr-capital-picks-up-charlotte-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mohr-capital-picks-up-charlotte-office-asset\/","title":{"rendered":"Mohr Capital Picks Up Charlotte Office Asset"},"content":{"rendered":"<p>By Timea Papp<\/p>\n<div id=\"attachment_1004199798\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/University-Highlands.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004199798\" data-attachment-id=\"1004199798\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/mohr-capital-picks-up-charlotte-office-asset\/university-highlands\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/University-Highlands.png\" data-orig-size=\"1456,1092\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"University Highlands\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;University Highlands&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/University-Highlands.png?w=1024\" loading=\"lazy\" class=\"wp-image-1004199798 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/University-Highlands.png\" alt=\"University Highlands\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/University-Highlands.png 1456w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/University-Highlands.png?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/University-Highlands.png?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/University-Highlands.png?resize=1024,768 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004199798\" class=\"wp-caption-text\">University Highlands<\/p><\/div>\n<p>Mohr Capital has completed the acquisition of a 100,000-square-foot, Class A office building in the University submarket of Charlotte, N.C. Aivone Investments LLC sold the vacant asset in an $11.4 million deal, according to public records.<\/p>\n<p>Located at 10330 David Taylor Drive, the property sits on 13.8 acres and was completed in 2003. The asset previously changed hands in November 2004 for $12.6 million, real estate records show.<\/p>\n<h2>Upgrades ahead<\/h2>\n<p>The new ownership plans to rebrand the building as \u201cUniversity Highlands\u201d and to invest in capital improvements, as well as expand the property by adding approximately 150,000 square feet to the site.\u00a0<\/p>\n<p>Mohr Capital CIO Gary Horn and Jack Glasgow, managing partner with Cresa Carolinas, represented the buyer.\u00a0The new owner retained Brad Grow, a partner at Colliers International, to spearhead leasing efforts. CBRE will oversee property management.\u00a0Cresa acquired Mohr Partners, an <a href=\"https:\/\/www.commercialsearch.com\/news\/cresa-acquires-charlotte-firm\/\">affiliate of Mohr Capital<\/a>, earlier this year, in March.<\/p>\n<p><em>&#8220;The asset is in excellent condition and\u2014with the capital improvements we have planned and the limited options in the 250,000-square-foot range\u2014we feel the property will be well received in the market,&#8221;<\/em> Horn said in a prepared statement. <em>&#8220;With Brad Grow&#8217;s assistance, we have already visited with many of the top Charlotte brokers regarding the asset and, with the limited inventory in the market, we hope to secure a tenant soon.&#8221;<\/em><\/p>\n<p><em>Image courtesy of Mohr Capital<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The new owner plans to rebrand the property as \u201cUniversity Highlands.\u201d Colliers Partner Brad Grow will handle leasing and CBRE will provide property management services.<\/p>\n","protected":false},"author":240,"featured_media":1004199798,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1582,21743,21783,21742,21747],"tags":[32789,32763,34279,34036],"class_list":["post-1004199795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-charlotte","category-deals","category-investment","category-latest","category-office","tag-cbre","tag-colliers-international","tag-cresa","tag-mohr-partners"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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