Morning Calm Management and Praelium Commercial Real Estate have joined forces to acquire Charlotte Plaza, a 643,000-square-foot office tower in Charlotte. The sales price was $70 million.
The high-rise was transferred to a special servicer in January 2023. An entity named South College Street LLC was listed as the seller. Rabina Properties is listed as the owner on the Charlotte Plaza website.
CBRE’s Patrick Gildea and Matt Smith represented the seller.  Â
Located at 201 South College Street in the heart of Charlotte’s Central Business District (CBD), Charlotte Plaza is a 27-story office tower that is currently 32% occupied. Originally constructed in 1982, the building has historically maintained occupancy levels above 90% for most of its existence.  On-site retail is anchored by STK Steakhouse. Â
Charlotte Plaza directly connects to the Overstreet Mall, a second-floor pedestrian corridor connecting office buildings, retailers, restaurants, parking garages, and hotels across Uptown Charlotte. Â
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