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1901 Roxborough Road, Charl...

Griffin Partners Acquires Office Building In Charlotte, NC For $50.9M
SOLDOffice

Griffin Partners Acquires Office Building In Charlotte, NC For $50.9M

1901 Roxborough Road, Charlotte, North Carolina 28211, United States

$50,900,000

$284/SF

Building Size

179,242 SF

Asset Type

Office

Closing

Oct 5, 2022

AI

The office property located at 1901 Roxborough Road and 6525 Carnegie Blvd in Charlotte, NC has been sold. The transaction involved the buyer, Griffin Partners, and the sellers, Intercontinental Real Estate Corp. and Spectrum Cos. The deal was facilitated by brokers Ryan Clutter and Daniel Flynn from JLL. The property spans a total area of 179,242 square feet, with a sale price of $50,900,000. This equates to a price per square foot of $284.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $50,900,000
  • Address: 1901 Roxborough Road & 6525 Carnegie Blvd, Charlotte, NC
  • Market: Charlotte, NC
  • Buyer: Griffin Partners
  • Seller: Intercontinental Real Estate Corp. & Spectrum Cos
  • Brokers: Ryan Clutter & Daniel Flynn - JLL
  • Square Footage: 179,242
  • Price per Square Foot: $284

The successful transaction was made possible through the collaborative efforts of all parties involved. Ryan Clutter and Daniel Flynn from JLL played a crucial role as brokers in facilitating the deal between the buyer and the sellers.

Players

Ryan Clutter

JLL

Broker

$763.5M

vol

8 deals

Broker
Griffin Partners
Griffin PartnersBuyer

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

0.31%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93