JLL completes $102M sale, $79.35M financing for 3 buildings within Coliseum Centre

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JLL Capital Markets has announced that it has closed the $102 million sale and arranged $79.35 million in financing for Coliseum Centre III, V and VI, three Class A office buildings totaling 511,344 square feet in Charlotte. 

JLL represented the seller, America’s Capital Partners, and procured the buyer, Charlotte-based South Street Partners. Additionally, working on behalf of the buyer, JLL arranged the four-year, floating-rate acquisition loan with Brookfield.

Coliseum Centre III, V and VI are located at 2550 W Tyvola Road and 2810 and 2815 Coliseum Drive, respectively, immediately adjacent to Billy Graham Parkway in Charlotte’s Airport submarket. The properties have excellent connectivity to Interstates 77, 85 and 485, the area’s primary transportation arteries, and are a short distance from Uptown Charlotte and the Charlotte Douglas International Airport. The buildings are also surrounded by some of the top hotel brands. Completed between 1996 and 1998, the six-story buildings are 87% occupied overall and offer a superb amenity package not commonly found in similar-sized buildings, including on-site dining options, three oversized fitness centers, conference facility, three large boardrooms, 60-person training facilities with adjacent tenant WiFi lounge and a shared collaboration area.

The JLL Capital Markets team representing the seller was led by Senior Managing Director Ryan Clutter, Senior Director Chris Lingerfelt and Director Zack Drozda.

JLL’s Capital Markets team representing the borrower was led by Senior Managing Director Travis Anderson and Director Taylor Allison.

“Coliseum Center and the surrounding Airport submarket is poised for exceptional growth,” Lingerfelt said. “Underlying fundamentals in the area are flourishing as South End continues to inch closer, and affordable well-parked office space becomes scarce. Coliseum Centre will be a phenomenal investment opportunity for years to come.”

“Given the strong employment growth and corresponding leasing demand in Charlotte, opportunities like Coliseum Centre are very attractive to investors,” commented Clutter. “Our team facilitated a quiet transaction on these three assets matching the right capital source to the right opportunity. The outcome is a win-win for all involved and further demonstrates the strong investor appeal of the Charlotte market.”

“Charlotte has become one of the top markets for office investment nationally and is poised to continue to see significant inbound capital flows,” Clutter added.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.