RealOp Investments, a real estate private equity firm, has purchased the163,687-square-foot Arrowpoint II & III portfolio located in Charlotte’s Airport submarket.
This is RealOp’s first office acquisition in Charlotte, said Julian Nexsen, RealOp’s VP of Acquisitions. The two four-story properties are adjacent to each other, providing spacious floor plates exceeding 20,000 square feet.
“We see an opportunity to fill an underserved need for value driven office space with good parking ratios in suburban Charlotte,” Nexsen said. “Charlotte’s CBD has been on fire, seeing remarkable rental rate growth and setting pricing records, but the suburbs still have a large differential in price-per-square-foot rates and appreciation potential compared to the CBD.”
The properties are close to Charlotte’s Douglas International Airport, the city’s downtown business district, top tier hotels, restaurants, and many of Charlotte’s most desirable residential, commercial and shopping areas. The office portfolio was sold by Accesso Partners, LLC.
“Our goal is to acquire value-add assets in growth markets across the Southeast, implementing strategic redevelopment and leasing plans. We feel there is great upside opportunity with each of these buildings,” Nexsen said.
About RealOp Investments:
RealOp Investments is a commercial real estate investment companyfounded in 2009 specializing in value-add and opportunistic acquisitions. Withdeep roots in the Southeast, our investment strategy spans all commercial asset classes and is based on a relationship-driven pursuit of value; not only inidentifying off market opportunities, but in creating value through innovative capitalization structures, management expertise and the execution of uniquestrategies tailored to each asset. Learn more at www.realopinvestments.com.