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Highwoods Properties Acquires 6Hundred At Legacy Union Office Tower From Lincoln Property Company For $223M
SOLD
$223,000,000
North Carolina
See Similar DealsOffice411,000 SF
Sold 11/18/2025
SOLD
Highwoods Properties Acquires 6Hundred At Legacy Union Office Tower From Lincoln Property Company For $223M
600 South Tryon Street
See Similar DealsOffice411,000 SF
Sold 11/18/2025
Summary
NORTH CAROLINA
Asset Type:Office
Price Per Square Foot:$542
Total Square Footage:411,000 SF
Transaction Type:Sale
The property involved in the transaction is an office asset located at 600 South Tryon Street in Charlotte, NC. The sale took place on November 18, 2025, for a total price of $223,000,000. The asset spans 411,000 square feet, yielding a price per square foot of $543.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $223,000,000
- Buyer: Highwoods Properties
- Seller: Lincoln Property Company
- Square Footage: 411,000
- Price per Square Foot: $543
- Market: Charlotte, NC
Highwoods Properties acquired the 6Hundred at Legacy Union office tower, which is a 24-story structure. This acquisition contributes to expanding Highwoods' Legacy Union footprint significantly with their total expected investment of $223 million.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$11,893,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$792,271.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,057,133.77
Annual Debt Service$12,685,605.23
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