NASCAR Plaza sale crosses finish line
Published: December 31, 2012
Time posted: 5:43 pm
CHARLOTTE — Charlotte-based Trinity Capital Advisors said Monday that it and Philadelphia-based Rubenstein Partners have finally handed the keys of NASCAR Plaza over to Orlando, Fla.-based Parkway Properties.
Parkway announced in October that the company had signed a contract to buy the 20-story, 395,000-square-foot uptown skyscraper, but it wasn’t until Monday that the deal closed, according to an announcement from Trinity.
The announcement did not contain the purchase price, but Trinity has said that the building was being bought for $100 million.
Trinity and Rubenstein jointly bought the building in 2010, according to the company announcement. Since then, its occupancy rose from 33 percent to 88 percent, thanks in large part to Chiquita relocating its headquarters from Cincinnati to Charlotte and the expansion in the building of NASCAR’s media group.
Chiquita occupies 137,000 square feet, while NASCAR takes up 132,500.
Parkway revved up its purchasing of office properties in the Charlotte area in 2012, spending roughly $250 million for Hearst Tower and $47.4 million on the 525 North Tryon building.
Parkway wasn’t immediately available for comment.
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