Updated Dec 12, 2024
Spectrum Cos., Invesco Real Estate Acquire Office Building In Charlotte, NC For $65.5M
1001 Morehead Square Drive, Charlotte, North Carolina 28203, United States
$65,500,000
$492/SF
Building Size
133,107 SF
Asset Type
Office
Closing
Dec 9, 2021
About this deal
AI
The office property located at 1001 Morehead Square Dr in Charlotte, NC has been sold in a transaction. The property spans 133,107 square feet, with a sale price of $65,500,000, resulting in a price per square foot of $492. The sale was facilitated by CBRE, with Patrick Gildea, Matt Smith, Grayson Hawkins, Joe Franco, Kris Westmoreland, and Emily Barth representing the seller, Ferncroft Capital.
Summary of transation details
- Property Type: Office
- Transaction Amount: $65,500,000
- Square Footage: 133,107
- Price per Square Foot: $492
- Address: 1001 Morehead Square Dr, Charlotte, NC
- Market: Charlotte, NC
Spectrum Cos. and Invesco Real Estate acted as the buyers in this deal. Additionally, CBRE played a significant role as the seller's representative.
Players
Charlotte Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93