Dec
10

525 N. Tryon Office Building Under Contract

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525 TryonGrubb Properties and New York Life Insurance Co. are under contract to purchase the 525 North Tryon office building in uptown Charlotte, according to real estate sources.

The 19-story building was listed for sale by its owner, Parkway Properties Inc., in October and is one block over from the 336-unit SkyHouse Uptown apartment tower, which Grubb is developing with Novare Group and Batson Cook Construction.

The developers recently purchased the City Center Inn property next door to the SkyHouse project and plan to start work on a second apartment tower next year. Grubb Properties is also working to bring a grocer to a site on that same block.

The motel will be torn down this month, and the developers are sponsoring a “motel demolition party” this evening at the 525 North Tryon building along with Parkway Properties, neighborhood association Friends of Fourth Ward and Charlotte Center City Partners.

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    Categories : Charlotte

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