April 1, 2016
A joint venture between Starwood Capital and Vision Properties has sold Charlotte, NC’s One Wells Fargo Building for $284 million. The price fetched by the asset at 301 S. College St. was the highest ever for an office building in North Carolina.
The buyer was a limited liability company with ties to Nevada businessman Dennis Troesch. Will Yowell, Patrick Gildea, Jay O’Meara and Justin Parsonnet of CBRE handled the negotiations on behalf of Starwood Capital.
The 42-story building is 98% leased, and is the East Coast headquarters for Wells Fargo. The remaining tenants are financial, legal and real estate firms.