Oct
03

Charlotte Office Tower Sold for $180/sf

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The Dilweg Companies, a commercial real estate investment and management firm based in Durham, has purchased 121 West Trade, formerly known as the Interstate Tower, in the heart of Uptown Charlotte for $59.6 million.

121 West Trade is a 32-story class A office building located on “The Square” at Trade and Tryon streets, Charlotte’s signature intersection. The property totals nearly 330,000 square feet and has a 267-space parking deck. Currently more than 72 percent occupied, the building’s major tenants include the Charlotte City Club, an exclusive dining/meeting club, as well as CB&I, Faison Enterprises, and SAS.

“We are very pleased to acquire this iconic building and to have a presence right in the heart of Charlotte’s central business district,” said Anthony Dilweg, CEO of the Dilweg Companies. “This is our largest acquisition to date, and we are excited about the opportunity to reposition this landmark office property and add to its value.”

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