Fort Mill Class A Office Buildings Sold for $222/SF


kingsly parkDTZ has announced the sale of three Class A office buildings in Kingsley Park, a corporate office campus in Fort Mill, SC, outside Charlotte. A DTZ Capital Markets team including Senior Managing Director Rob Cochran and Associate Vice President Jared Londry represented the sellers, a joint venture between Childress Klein and The Springs Company.

The buildings, which together total 178,317 square feet, traded to Waitt Company, an Omaha, NE-based investor, for $39.5 million, or $222 per square foot. Kingsley Park is Waitt Company’s first real estate investment in the Carolinas.

“This offering drew a tremendous response,” said Mr. Cochran. “We received multiple highly competitive offers over several rounds of bidding from local and national investors, many of whom were new players in this market. The transaction highlights the recent surge in demand for core suburban office product. The Kingsley Park sale is the most recent of several notable transactions in Fort Mill in recent months. Both LPL Financial and The Lash Group announced relocations to the area and are building new corporate campuses across the street from Kingsley Park, ultimately creating 5,000 jobs and 1 million square feet of new office space.”

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