Case Study

Charlotte Portfolio

CBD submarket
1.77M size
397M at purchase
520M upon sale

Corporate Expertise

This series of acquisitions was done in connection with raising public company common equity. Timing these investments to be paired with public equity raises was a difficult endeavor given the market dynamics at the time.

Investment Acumen

Parkway entered Charlotte in 2012 with the acquisition of Hearst Tower. With the anchor tenant, Bank of America, facing financial headwinds, it was a challenging time. Parkway negotiated a sale/leaseback with Bank of America and stepped in to stabilize the remainder of the rent roll.

Later that year, Parkway acquired 525 North Tryon from a portfolio buyer who didn’t want to turn around the asset. Parkway then acquired NASCAR Plaza, a recently constructed asset that had leased up at rents significantly below market.

Learn how we acquired & developed six Class A office buildings in a Phoenix submarket poised for growth.