Mar
23

Charlotte Office/Retail Property Sold for $14.5 Million

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An affiliate of Gulfstream Capital Partners, LLC has sold Tranquil Court in Charlotte, NC to LRC Opportunity Fund.

Patrick Gildea and Ryan Clutter of CBRE’s Carolinas Investment Properties Group represented the seller on this transaction, which closed this week. The Charlotte Business Journal reports the asset traded for $14.5 million.

Tranquil Court is a 100 percent leased, 61,918 square foot, Class A office and retail building along Selwyn Avenue in Myers Park. The building delivered in 2010, and was subsequently leased to a variety of local and regional tenants.

“We are seeing a tremendous amount of capital chasing core, stabilized assets in strong secondary and tertiary markets as investors seek stronger yields than those being offered in primary markets.” said Gildea. “The Tranquil Court sale is one example of a number of recent transactions that prove Charlotte has returned to the radar of investors on a national scale.”

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