CHARLOTTE, N.C. — A partnership between New York-based Town Lane and locally based Trinity Capital Advisors has purchased 440 South Church, a 15-story office building located in Uptown Charlotte. The seller and purchase price were not disclosed, but Charlotte Business Journal reported that New York-based Epic Investment Partners sold the building for $75.8 million.
Patrick Gildea and Matt Smith of CBRE represented the seller in the transaction. J.P. Cordeiro, Mike Ryan and Brian Linnihan of CBRE’s Debt & Structured Finance team arranged acquisition financing.
Built in 2009 and lightly renovated in 2022, 440 South Church’s occupancy rate was 47 percent at the time of the sale. Town Lane and Trinity Capital, which is also the 388,657-square-foot tower’s original developer, plan to invest $20 million in capital improvements and renovations, including an overhauled lobby, new lounges, new street-level retail space, updated building systems and upgrades to the amenity level on the second floor.
Tenants at 440 South Church include Driven Brands and HDR Engineering.