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Sale of two SouthPark buildings closes

Morrison Building

Morrison Building

Spectrum Properties and Intercontinental Real Estate Corp. have closed on the purchase of the Morrison and Roxborough buildings in SouthPark. Holliday Fenoglio Fowler LP marketed the properties on behalf of the seller, Lionstone Investments.

The two multitenant office buildings have a total of 178,338 square feet and are at 6525 Morrison Blvd. and 1901 Roxborough Road, respectively. The four- and five-story properties are 95 percent leased to tenants including Velocity and South State Bank.

The HFF investment sales team representing the seller was led by senior managing director Ryan Clutter and director Scot Humphrey.

“Morrison and Roxborough are two exceptionally well-located office buildings in the heart of SouthPark, one of Charlotte’s most dynamic submarkets,” said Clutter in a statement. “These buildings attracted considerable interest from the investment community as they have a long history of outperforming their competition and achieving strong rents.”

Spectrum and Intercontinental purchased the properties as a partnership.

“We are excited about adding these two great office assets in SouthPark to our Charlotte portfolio,” said Spectrum Properties President John Boylan in the release. “We are fortunate to again partner with Intercontinental on this investment.”

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