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Colin Connolly Of Cousins Properties Acquires Office Building In Charlotte For $317.5 Million
SOLD
$317,500,000
North Carolina
See Similar DealsOffice638,000 SF
Sold 02/05/2026
SOLD
Colin Connolly Of Cousins Properties Acquires Office Building In Charlotte For $317.5 Million
100 West 3rd Street
See Similar DealsOffice638,000 SF
Sold 02/05/2026
Summary
NORTH CAROLINA
Asset Type:Office
Price Per Square Foot:$497
Total Square Footage:638,000 SF
Transaction Type:Sale
Cousins Properties acquired a fully leased lifestyle office building located at 100 West 3rd Street in Charlotte, NC. The asset spans 638,000 square feet and was sold for a total price of $317,500,000, equating to a price per square foot of $498.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $317,500,000
- Buyer: Colin Connolly - Cousins Properties
- Market: Charlotte, NC
- Square Footage: 638,000
- Price per Square Foot: $498
- Lease Term: Six-year average
The deal was funded through a combination of asset sales, debt, and share settlements. It is expected to be immediately accretive, supporting growth in Charlotte’s strong market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$16,933,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,128,010.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,505,111.98
Annual Debt Service$18,061,343.77
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