Independence Tower
Office | 6.80% CAP | 140,000 SqFt
Marketing description
New South Properties is pleased to exclusively offer for sale the "Big Gold Building," an iconic Charlotte office asset located at 4801 E. Independence Boulevard (the "Property"). A landmark along one of Charlotte's primary commercial corridors for more than 50 years, the Property presents a rare opportunity to acquire a well-located asset with significant value-add potential. With approximately 47,971 square feet of vacancy, the offering provides immediate lease-up upside and a compelling repositioning opportunity.
Strategically positioned along the Independence Boulevard corridor, just minutes from Uptown Charlotte, the Property benefits from exceptional visibility and accessibility. The asset serves as a prominent gateway to East Charlotte, a submarket known for its international community, older established neighborhoods and reinvestment/redevelopment opportunities. The surrounding area is anchored by established neighborhoods including Eastland, Oakhurst, Plaza Midwood, and Windsor Park, which contribute to the corridor's long-term growth and appeal.
The offering presents investors the opportunity to acquire a legacy asset at an attractive basis with embedded upside through lease-up, capital improvements, and strategic repositioning. Current in-place rents are estimated to be below market, providing a clear mark-to-market opportunity upon stabilization.
Investment highlights
- Iconic 140,000 SF Charlotte Office Tower Offered at Approximately $79/SF with In-Place Income and Significant Lease-Up Upside
- Offered at ~$79/SF Available
- Below-Market In-Place Rents
- Prominent 68,319 VPD Corridor Visibility
- ~10% Mark-to-Market Rent Upside
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