The 121 West Trade building is 72% occupied.
Will Boye
Senior Staff Writer- Charlotte Business Journal
Another uptown office tower has hit the market: The 32-story 121 West Trade building, located at the intersection of Trade and Tryon streets, has been listed for sale with CBRE Group Inc.
The building, owned by an affiliate of Hartford, Conn.-based Cornerstone Real Estate Advisors, totals 330,000 square feet and is 72% occupied. The Charlotte City Club occupies the top floor of the building, formerly known as the Interstate Tower.
The largest tenant at 121 West Trade is Chicago Bridge Iron Co., which acquired The Shaw Group Inc. earlier this year. CBI occupies approximately 117,000 square feet, or about a third of the building, in a lease that expires in 2018.
Cornerstone bought the building in 2006 for $52.3 million from an advisory client of Faison Enterprises. Faison developed the tower in 1990.
Ryan Clutter and Patrick Gildea at CBRE are marketing the property on behalf of Cornerstone.
Several uptown office towers have changed hands over the past year, most recently One Wells Fargo Center, which sold for $245 million this month to Starwood Capital Group and operating partner Vision Equities.
Will Boye covers commercial real estate and law firms for the Charlotte Business Journal.
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