Updated Nov 13, 2026
Paychex Leases 6,000 Square Feet At 550 South Caldwell Street In Charlotte From Cousins Properties
550 South Caldwell Street
Building Size
6,000 SF
Asset Type
Office
Closing
Nov 13, 2026
About this deal
AI
550 South Caldwell Street is a 20-story office tower located in uptown Charlotte, NC. The property includes 6,000 square feet of office space, which has recently undergone renovations. The building currently has an occupancy rate of approximately 55% and is owned by Cousins Properties.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Landlord: Colin Connolly - Cousins Properties
- Tenant: Paychex
- Brokers: Barry Fabyan - Cushman & Wakefield
- Location: 550 South Caldwell Street, Charlotte, NC
- Interior Upfit: $180,000 planned for early 2027 opening
Colin Connolly represents the landlord, Cousins Properties, in the leasing of the office space to Paychex. Barry Fabyan acts on behalf of Cushman & Wakefield in this transaction, facilitating the agreement for Paychex's local office catering to their sales staff needs.
On the Map
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93