Feb
02

Charlotte Office Tower Sold for $25.3 Million

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Johnston-BuildingThe Dilweg Cos., a commercial real estate firm based in Durham, has purchased the Johnston Building in uptown Charlotte for $25.3 million.

The 17-story historic building at 212 S. Tryon St. totals 172,382 square feet and is more than 84% occupied. Major tenants include Carlisle & Gallagher Consulting Group, the Office of the Comptroller of the Currency, Montreat College and Fifth Third Bank.

“We believe the Johnston Building’s unique design, history and central location make it attractive to the uptown work force,” Anthony Dilweg, CEO of the Dilweg Cos., said in a news release. “The metro’s strengthening fundamentals make it an exciting time to be in Charlotte, and we’re happy to expand our footprint here.”

The Charlotte Business Journal reported last year that the Johnston Building had been listed for sale, one of several office properties hitting the market in response to growing demand from real estate investors. Sales of Charlotte office properties hit $1.1 billion in 2014, up from $875 million in 2013, according to Real Capital Analytics.

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