CHARLOTTE, N.C. — An affiliate of Crescent Communities has purchased One University Place, an 84,800-square-foot suburban office building located in Charlotte’s University office submarket. Dunn Mileham and David Morris of Trinity Partners handled the transaction on behalf of the seller, an affiliate of Chicago-based Origin Investments, located in Chicago, Ill. According to the Charlotte Business Journal, the price was nearly $12.8 million.
One University Place was 86 percent leased at the time of sale. The office building is situated on six acres near the J.W. Clay and UNCC Lynx Blue Line stations. After purchasing the office building in 2015, Origin executed a capital improvement plan that transitioned the late-80s office building to a more modern design. Crescent Communities has retained Trinity Partners to continue providing leasing and management services at One University Place.