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Atlanta & Southeast  + Carolinas  + Office  | 
Raleigh, NC-based Highwoods Properties, Inc., has agreed to acquire 650 South Tryon at Legacy Union in Charlotte for $203 million.

Highwoods Properties to Acquire Charlotte Tower for $203M, Mixed-Use Site for $27M

Raleigh, NC-based Highwoods Properties, Inc., has agreed to acquire 650 South Tryon at Legacy Union in Charlotte’s Uptown submarket for a total expected investment of $203 million, including $3.9 million of anticipated leasing capital expenditures to bring the property to stabilization.

650 South Tryon, which delivered in late 2020 and is currently 78% leased, is a LEED gold-certified office building encompassing 367,000 square feet. 650 South Tryon is immediately adjacent and connected to Highwoods-owned Bank of America Tower at Legacy Union.

Second, the Highlands has agreed to acquire a mixed-use development site located at 1426 South Tryon Street in the Charlotte’s South End submarket for $27 million. 1426 South Tryon is tentatively planned for a mixed-use development consisting of approximately 300,000 square feet of future office and 250 apartment units. The site’s existing low-rise building totaling 24,000 square feet is 57% leased to customers on short-term leases.

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Highwoods Properties, Inc.

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition