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Tempus Realty Disposes of 82K-SF Charlotte Office for $16M
CBRE has arranged the sale of Live Oak, an 81,921-square-foot office building on Red Oak Boulevard in Charlotte, NC. The buyer, REALCO-NC 001, LLC purchased the 100%-occupied property from Tempus Realty for $15.9 million.
CBRE’s Patrick Gildea, Matt Smith and Grayson Hawkins represented the seller. The buyer was represented by Katie Elliott with Stan Johnson Company and Paul Hanna with JLL.
“While scrutinized during the pandemic, suburban office remains active from a leasing and capital markets standpoint,” said CBRE’s Gildea. “The airport submarket in particular is witnessing strong activity as we close out 2021.”
“Charlotte remains at the top of the list for out of market investors,” adds CBRE’s Smith. “The South End and CBD continue to grab the headlines, but new to market capital continues to invest in all areas of Charlotte.”
The 1989, five-story property is within the I-77 Corridor submarket, near Charlotte Douglas International Airport, Uptown Charlotte, Myers Park and South End.
- ◦Sale/Acquisition
