Development

SouthPark office building sold for $24.5 million

6101 Carnegie Boulevard
6101 Carnegie Boulevard

An office building at 6101 Carnegie Boulevard in SouthPark has been sold for $24.5 million, according to real estate sources.

The five-story building is located at Congress Street and Carnegie Boulevard, on 2.77 acres across from SouthPark mall. The 107,000-square-foot building is 88 percent leased, to clients that include United Health Care and Morgan Stanley/Smith Barney.

“6101 Carnegie Boulevard is a unique and compelling asset that offers investors an attractive opportunity to push rents and harvest notable upside,” said Ryan Clutter, HFF senior managing director, who led the team representing the seller. “Office rents have risen significantly over the last few years throughout Charlotte, but in urban, infill locations like SouthPark this trend has been even more pronounced.”

ICM Realty Group is the purchaser, and plans to invest in capital improvements, add amenities and create an on-site property management office in the building.

“”We are pleased to be investing in a market that has and will continue to benefit from employment growth and the long-term opportunities created by the ongoing expansion of the economy,” said Bruce Timm, ICM’s CEO. “This transaction signifies our ongoing commitment to investing in Charlotte and the Southeast U.S. markets.”

Ely Portillo: 704-358-5041, @ESPortillo

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