Dornin Investment Group Leases 31K SF Office Space At 128 South Tryon Street In Charlotte
128 South Tryon Street
$32
$32/SF
Building Size
31,838 SF
Asset Type
Office
Closing
Sep 18, 2024
AI
The property involved in this transaction is located at 128 South Tryon Street in Charlotte, NC. This office asset encompasses a total square footage of 31,838 and commands an asking rent of $32 per square foot. The lease type negotiated is a Full Service Gross, covering all operating expenses in the rent.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Landlord: Chris Dornin - Dornin Realty Advisors
- Landlord's Representative: Kris Westmoreland - CBRE
- Tenant's Representative: Jaime Smith - Cushman Wakefield
- Lease Term: 7+ years
This transaction was facilitated by Kris Westmoreland representing Dornin Investment Group, while Jaime Smith represented the tenant. The lease was executed with a global business services tenant, indicating the professional nature of the agreement.
Players
Charlotte Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
495718.75%
Cash-on-Cash
-141677.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93