CHARLOTTE—Inland Private Capital sold theBB&T headquarters building in Winston-Salem, NC to investorsfor $60 million. Charlotte-based investor Ray Geeand Atlanta-based investor Tyson Rhame partneredto buy the 240,000-square-foot, 20-story officetower as a long-term hold.
At $250 a square foot, the sale marks the highestper-square-foot price ever paid for a Winston-Salemoffice property. The asset is expected to producean annual return of about 7.25% before debt but after expenses.
It seems like a solid grab. BB&T Bank, one of the largestfinancial services holding companies in the US, occupies thebuilding under a 23-year triple net lease.
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