Shorenstein Properties Acquires NC Office Campus
The 450,000-square-foot property is situated within Charlotte’s University City submarket.
CHARLOTTE, NC – Shorenstein Properties LLC has acquired a commercial office property located at 6800 Solectron Drive in Charlotte, NC.
The 450,000-square-foot property within the University City submarket, is situated in the city’s second-largest employment center. Positioned among nearly 25 Fortune 500 companies, the property sits within the corporate hub, which is comprised of more than four million square feet of office space, for businesses across a wide range of industries, including technology, energy, finance and healthcare.
The acquired property is located directly across the street from Innovation Park, a nearly two-million-square-foot campus. The transit-oriented property holds access to I-85, I-485 and the new Lynx light rail extension.
Originally designed for and occupied by IBM, for manufacturing and office uses, the property was 100% leased to Flextronics until 2018.
Shorenstein Properties intends to redevelop the property into a class-A project, featuring outdoor amenity space, increased parking capacity and enhanced roadway access. The firm hopes to leverage its investment to offer a functional, modern and sustainable office space in the heart of Charlotte.
The property was acquired from Westcore Properties and the terms of the transaction were not disclosed.
Cushman & Wakefield’s Jessica Brown and David Dorsch have been retained to lead the marketing and leasing of the property.
Shorenstein Properties LLC, founded in 1924, is a privately-owned real estate owner and operator of office, residential and mixed-use properties across the US. The firm has invested in ground-up developments, asset repositioning and stabilized assets.