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Time Warner Cable office building sold for $18.2 million

A Time Warner Cable office building on West Arrowood Road has been sold for $18.2 million to a New York-based property trust, according to brokers and Mecklenburg County real estate records.

The 113,600-square-foot building is occupied by Time Warner Cable, which uses it as a call center, office and operations facility. Real estate records show the buyer was a company affiliated with Gramercy Property Trust.

Patrick Gildea, of real estate firm CBRE, led the sale, the company said.

“We are seeing an increase in investor demand in the I-77 corridor submarket, given the positive trend line over the last few years. Class-A vacancy has tightened considerably, and rental rates are expected to grow accordingly in the next couple of years,” Gildea said, in a statement.