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
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
1.72%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93