facebook

traded

+ Submit
Home

/

Deals

/

North Carolina

/

Office

/

Sale

/

600 Forest Point Circle

CB Equities Acquires 64,198 SF Office Building In Charlotte For $9.2M
SOLDOffice

CB Equities Acquires 64,198 SF Office Building In Charlotte For $9.2M

600 Forest Point Circle

$9,200,000

$143/SF

Building Size

64,198 SF

Asset Type

Office

Closing

Aug 28, 2023

AI

CB Equities, based in New England, has acquired Forest Park IV, a 64,198-square-foot office building located at 600 Forest Point Circle in southwest Charlotte, North Carolina. The property was sold by Franklin Street Properties Corp for a price of $9,200,000, resulting in a price per square foot of $143. This transaction took place on August 28, 2023.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: $9,200,000
  • Square Footage: 64,198
  • Address: 600 Forest Point Circle, Charlotte, NC

John Conley from CB Equities served as the buyer in this transaction, while George J. Carter represented Franklin Street Properties Corp as the seller. The deal was facilitated by Grayson Hawkins, Matt Smith, Patrick Gildea, and Robert Hardaway from CBRE, who acted as the brokers involved.

Players

Patrick Gildea

CBRE

Broker

$479.1M

vol

17 deals

Broker
George Carter

George Carter

Franklin Street Properties

Seller

$38.3M

vol

4 deals

Seller

Charlotte Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.72%

Cash-on-Cash

-0.49%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93