Development

Offices sold at Arlington building for $7.5 million

The Arlington “pink building” in South End. The office is on the left and the residential condo tower is on the right.
The Arlington “pink building” in South End. The office is on the left and the residential condo tower is on the right.

A private equity firm from Asheville has purchased the office portion of the Arlington on South Boulevard, better known as the “pink building” just outside of uptown.

East West Capital paid $7.5 million to acquire the 34,618-square-foot offices at the Arlington, Mecklenburg County real estate records show. The Arlington includes shops and restaurants on the ground floor and a 24-story residential tower.

Managing director Rob Cochran and associate vice president Jared Londry of Cushman & Wakefield represented the seller, SRS Investors.

“The Arlington presented a unique opportunity for investors,” said Cochran in a statement. “It has a demonstrated appeal for tenants looking for high-quality office space in the dynamic Midtown submarket.”

In October, Beacon Partners bought the Park Avenue building at 1520 South End, which houses Carrabba’s, for $21.7 million.

There has also been a surge of interest among office tenants and developers in South End, perhaps better known for its breweries and thousands of new apartments than Class A office space. Beacon Partners has opened 1616 Center, next to Price’s Chicken Coop; Dimensional Fund Advisors is building a new, seven-story headquarters on the former Food Truck Friday lot.

“South End is experiencing a remarkable surge,” said Londry, in a statement. “The vitality and energy are drawing new businesses and a young, urban population.”

Ely Portillo: 704-358-5041, @ESPortillo

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