Midtown Commons


Overview

Asset Size: 26,000 SF
Location: Charlotte, NC
Product Type: Infill Office
Strategy: Capital Appreciation

Opportunity & Strategy

  • Off-Market Transaction – Abacus sourced this asset by leveraging its local network in an off-market transaction
  • Core Location – Midtown Commons is located in Charlotte’s Midtown office submarket, one of the tightest infill office submarkets in the Southeastern US, and adjacent to Charlotte’s CBD, South End and the Dilworth residential neighborhoods
  • Below Market Rents – in-place rents at Midtown Commons were 75% of the next lowest-cost provider of multi-tenant office space in Midtown, creating the opportunity to unlock value by marking rents to market as leases expire in conjunction with an offensive base building capital improvement program