Business

One of Uptown’s original skyscrapers sells for $25.3 million

A Durham-based real estate company has purchased one of Charlotte’s oldest skyscrapers, the 17-story Johnston Building, the firm said Monday.

The Johnston Building, at 212 S. Tryon St., was Charlotte’s tallest building when it opened in 1924. Mecklenburg County real estate records show The Dilweg Cos paid $25.3 million for the structure, which has 172,000 square feet of space.

“We believe the Johnston Building’s unique design, history and central location make it attractive to the uptown workforce,” CEO Anthony Dilweg said in a statement. “The (metro area’s) strengthening fundamentals make it an exciting time to be in Charlotte, and we’re happy to expand our footprint here.”

The building is 84 percent leased, Dilweg said. Major tenants include Carlisle & Gallagher Consulting Group, Office of the Comptroller of the Currency, Montreat College and Fifth Third Bank. Patrick Gildea, of CBRE, represented the seller, a limited liability partnership called 212 South Tryon.

Dilweg also owns the One and Two SouthPark Center and Park Abbey office buildings in Charlotte. In 2013, the company paid $59.6 million to buy 121 West Trade, a 32-story office tower uptown. In total, Dilweg now holds 850,000 square feet of local office space.

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