Update: This property is no longer on the market since it sold. Click here to read about the sale and the financing arranged by HFF for the property.
The owner of the Rotunda Building has retained HFF to exclusively market the premier, Class A, 230,790-square-foot, multi-tenant office building for sale in Charlotte, North Carolina.
The Rotunda Building represents one of Charlotte’s trophy iconic office buildings and affords a potential buyer the opportunity to invest in the prestigious SouthPark submarket. Situated on 5.34 acres at 4201 Congress Street, the building is at the intersection of Congress Street and Carnegie directly across from SouthPark Mall. The average in-place rent at the Rotunda Building is just over $26 per square foot, presenting an investor with an incredible mark-to-market opportunity since the SouthPark submarket continues to tighten and comparable office building rental rates range from $30 to $35 per square foot. Current market conditions further complement the opportunity, as the Class A rental rates have grown nearly 12 percent since 2011 in the submarket.
Unique to the area, the building’s two-story parking deck has three ingress and egress points, making it convenient for visitors. The four-story building has a lobby with a two-story Porte Cochere with Italian marble, and Village Tavern, a full-service restaurant, is a tenant in the building. The 86-percent-leased building is home to a variety of tenants, including First Bank, CWA, KDC, Carroll Financial Associates, JLL, Capital South and B2R.
Rotunda Building is an iconic trophy office property for sale in Charlotte, North Carolina, in the prestigious SouthPark submarket. This property presents an opportunity for investors to acquire a mid-rise office asset in what the Urban Land Institute named the No. 3 most attractive U.S. Investment Market in 2016. For more information on this or other commercial real estate listings in the Carolinas, contact HFF Senior Managing Director Ryan Clutter or Director Scot Humphrey in HFF’s Carolinas office.