Tryon Street Investors Buys Major North Carolina Property

Tryon Street Investors LLC has purchased a 33-story, Class-A office building in Charlotte, N.C., for an account managed by UBS Realty Investors. Jones Lang LaSalle brokered the sale, for which the price was undisclosed.

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The 583,911 sq. ft. is located in the Charlotte CBD and houses six tenants on long-term leases, among them Duke Energy and GSA.

"The 404 South Tryon Street building has been a prominent part of the Charlotte skyline for years," says Mark De Riemer, managing director for Jones Lang LaSalle. "However, the long-term credit leases were the primary factor behind the strong investor interest, which included several Canadian, European and Middle Eastern institutional and entrepreneurial players."


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