REBusinessOnline

KBS REIT Sells Office Building in Charlotte for $30.5M

CHARLOTTE, N.C. — KBS Real Estate Investment Trust Inc. (KBS REIT) has sold Gateway Center, a 10-story, 310,745-square-foot office building located at 901 W. Trade St. in Charlotte’s central business district. An undisclosed buyer purchased the asset for $30.5 million. The property is within walking distance of Greyhound and Light Rail stations, in addition to Bank of America Stadium, home of the NFL’s Carolina Panthers. Gateway Center was 90 percent leased at the time of sale to tenants such as Bank of America and Johnson & Wales University. Amenities include a sundries shop and a 149-space, below-grade parking facility. The sale includes a 1.6-acre parcel currently used as a 29-space surface parking lot. Ryan Clutter, Scot Humphrey, Ralph Smalley and Christopher Lingerfelt of HFF represented KBS REIT in the sale.

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