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CHARLOTTE—Parkway Properties is acquiring NASCAR Plaza, 390,000-square-foot office tower  located in Charlotte’s Central Business District (CBD). A joint venture between Trinity Capital Advisors and Rubenstein Partners is selling the office tower for about $100 million.

“The purchase of NASCAR Plaza represents another off-market transaction that enables us to expand in one of our key, target submarkets with a high-quality asset,” says James Heistand, president and CEO of Parkway. “NASCAR Plaza has a strong tenant base and is the headquarters for several well-known companies, and we expect to create additional value through leasing and rent growth in a submarket that we believe will outperform during a recovery.”

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