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128 South Tryon Street

Dornin Investment Group Leases 31K SF Office Space At 128 South Tryon Street In Charlotte
LEASEDOffice

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

Kris Westmoreland

CBRE

Broker

$74.8M

vol

5 deals

Broker

Charlotte Office Market Snapshot

Boundary boundary · Office · Lease transactions

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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