The price range for the 400 South Tryon building is expected to be between $60 million and $70 million.
Will Boye
Senior Staff Writer- Charlotte Business Journal
The 400 South Tryon building in uptown Charlotte has been listed for sale with Cassidy Turley by its owner, an affiliate of UBS Realty Investors, according to real estate sources.
Duke Energy Corp. (NYSE:DUK) occupies approximately 90% of the 33-story Class-B building, which totals about 584,000 square feet. Duke has multiple leases at the building, located at South Tryon Street and West Martin Luther King Boulevard, and recently renewed and expanded one lease for more than 300,000 square feet.
Cassidy Turley began marketing the building for sale about a month ago and recently called for offers, sources say, with bids expected in the range of $60 million to $70 million.
UBS put the building up for sale in 2010 but later took it off the market after Duke indicated it was not going to stay. With Duke’s recent lease renewal, that situation has changed.
Rob Cochran, a senior managing director at Cassidy Turley who is leading the sales effort, declined to comment.
Will Boye covers commercial real estate and law firms for the Charlotte Business Journal.
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