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Highland Ventures Acquires Office Building At 525 North Tryon Street In Charlotte For $24M
SOLD
$24,000,000
North Carolina
See Similar DealsOffice405,000 SF
Sold 05/05/2025
SOLD
Highland Ventures Acquires Office Building At 525 North Tryon Street In Charlotte For $24M
525 North Tryon Street
See Similar DealsOffice405,000 SF
Sold 05/05/2025
Summary
NORTH CAROLINA
Asset Type:Office
Price Per Square Foot:$59
Total Square Footage:405,000 SF
Transaction Type:Sale
The property asset involved in the transaction is an office building located at 525 North Tryon Street in Charlotte, NC. The sale price for this asset is $24 million, and it encompasses a total area of 405,000 square feet, resulting in a price per square foot of $59.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $24,000,000
- Buyer: Highland Ventures
- Seller: New York Life Insurance Co
- Square Footage: 405,000
- Price per Square Foot: $59
- Sale Date: 05/05/2025
- Market: Charlotte, NC
Highland Ventures is the entity that has acquired the property from New York Life Insurance Co, indicating a significant transaction in the office segment of the Charlotte market.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,279,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$85,266.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$113,772.24
Annual Debt Service$1,365,266.93
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