{"id":1004340191,"date":"2019-07-22T05:25:40","date_gmt":"2019-07-22T13:25:40","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004340191"},"modified":"2019-07-22T05:25:40","modified_gmt":"2019-07-22T13:25:40","slug":"historic-charlotte-office-asset-trades-for-35m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/historic-charlotte-office-asset-trades-for-35m\/","title":{"rendered":"Historic Charlotte Office Asset Trades for $35M"},"content":{"rendered":"
\"\"<\/a>

The Johnston Building. Image via Google Street View<\/i><\/p><\/div>\n

The Dilweg Cos. has sold The Johnston Building, a 172,382-square-foot historic Class B office tower in downtown Charlotte, N.C., for $35.3 million, according to Yardi Matrix. The buyer\u2014Spaulding & Slye Investments, a subsidiary of JLL\u2014financed the acquisition with a four-year, $33.8 million loan from Pacific Coast Capital Partners.<\/p>\n

The high-rise building\u2014also known as Midtown Plaza\u2014last traded in early 2015, when Barnard Howard sold the property for $25.3 million to Dilweg.<\/p>\n

Located at 212 S. Tryon St., the 17-story tower rises in the heart of the city center, less than half a mile from the Spectrum Center and one block from a nearly 550,000-square-foot office tower<\/a>, which LRC Properties sold for more than $130 million in June. The surrounding area is home to a number of restaurants and shops, with the LYNX rail system\u2019s central hub a short walk away.<\/p>\n

The building opened in 1924, at the time Charlotte\u2019s tallest building. In 1929, the owner added two floors, bringing the structure to its present size. The asset was most recently renovated in 2004. The property is leased to a mix of tenants, including NTT Data, MassMutual and Southeast Consulting.<\/p>\n","protected":false},"excerpt":{"rendered":"

Spaulding & Slye Investments acquired the 172,382-square-foot Class B office tower. Pacific Coast Capital Partners provided nearly $34 million in financing.<\/p>\n","protected":false},"author":861,"featured_media":1004340197,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1582,21743,21825,21783,21742,21747],"tags":[36351,32796,46406,39105,34946],"class_list":["post-1004340191","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-charlotte","category-deals","category-finance","category-investment","category-latest","category-office","tag-capital-improvement","tag-jll","tag-johnston-building","tag-pacific-coast-capital-partners","tag-the-dilweg-companies"],"acf":[],"yoast_head":"\nHistoric Charlotte Office Asset Trades for $35M - 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\/historic-charlotte-office-asset-trades-for-35m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Historic Charlotte Office Asset Trades for $35M\" \/>\n<meta property=\"og:description\" content=\"Spaulding & Slye Investments acquired the 172,382-square-foot Class B office tower. 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