Morning Calm Management And Praelium Commercial Real Estate Acquire Office Tower In Charlotte For $70M

The transaction involved the sale of an office asset located at 201 South College Street, Charlotte, NC. The property was sold for $70,000,000, encompassing a total square footage of 643,638 and a price per square foot of $109. The asset is a 27-story office tower that had 32% leased occupancy at the time of closing.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $70,000,000
• Address: 201 South College Street
• Market: Charlotte, NC
• Square Footage: 643,638
• Price per Square Foot: $109
• Buyer: Morning Calm Management & Praelium Commercial Real Estate
• Seller: South College Street LLC
• Brokers: Patrick Gildea & Matt Smith - CBRE

Morning Calm Management and Praelium Commercial Real Estate acquired the property, with the deal being brokered by Patrick Gildea and Matt Smith from CBRE. This transaction represents a significant activity in the uptown Charlotte office market, with the aforementioned individuals actively involved in facilitating the sale.