Development

Airport-area office building sold for $35 million

Three Water Ridge
Three Water Ridge

An office building off of Tyvola Road has been sold for $35 million, according to Mecklenburg County real estate records.

Patrick Gildea and Will Yowell of CBRE brokered the sale of Three Water Ridge, on Water Ridge Parkway southeast of the airport. The seller was an affiliate of Goldman Sachs, and the purchaser is Sentinel Real Estate Corporation. The sale of the 109-609 square-foot building closed July 21.

“We continue to witness tremendous interest in high-quality, Class-A office product in the Charlotte market and throughout the Carolinas from national institutional investors,” said Gildea, in a statement. The I-77 corridor submarket, which includes the area off Tyvola Road, has seen rents increase by almost 19 percent in the past three years, CBRE said.

Ely Portillo: 704-358-5041, @ESPortillo

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