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Dilweg Re-enters SouthPark Submarket with Purchase of Two Office Buildings

CHARLOTTE, N.C. (July 1, 2013) – The Dilweg Companies, LLC has purchased SouthPark Center from an affiliate of Trammell Crow Company, Dallas, Texas. The property encompasses two office buildings, One SouthPark Center and Two SouthPark Center, in the heart of Charlotte’s prestigious SouthPark submarket.

One SouthPark Center, located at 6060 Piedmont Row Drive South immediately adjacent to the popular Piedmont Row, was built in 1973 and renovated in 2008. The ten story building totals more than 143,000 square feet and is at 96% occupancy. Fluor Enterprises has been a long term tenant; they occupy approximately half of the building.

Two SouthPark Center, located at 6135 Park South Drive, was built in 1980 and renovated in 1992 and again in 2009. The five story office building contains more than 94,000 square feet and is approximately 71% occupied. Quicken Loans Mortgage Services is the largest tenant.

“These two assets are a great addition to our office portfolio, and SouthPark Center marks our largest acquisition to date,” said Anthony Dilweg, CEO of the Dilweg Companies. “We continue to strategically divest out of non-core properties, while intently focusing our attention and resources on acquiring Southeast office product.”

The purchase of SouthPark Center marks a return to the Charlotte submarket for the Dilweg Companies. Dilweg previously owned the Carnegie Building, a 121,140 square foot office building at 6101 Carnegie Blvd. which was sold in 2006. Dilweg currently owns the Park Abbey Building, a 110,000 square foot office building in the Park Road submarket. In addition to the acquisition of SouthPark Center, Dilweg has recently purchased several properties in the Raleigh-Durham market, as well as four class A office buildings in the greater Atlanta area.

Patrick Gildea and Ryan Clutter of CBRE represented Trammel Crow on the sale.

About The Dilweg Companies

The Dilweg Companies is a full-service commercial real estate firm based in Durham, North Carolina. Since its launch in 1997, Dilweg has gained broad experience in the acquisition, development and operation of office, retail warehouse/flex, multifamily and self-storage properties. Dilweg’s investors have sponsored over $510 million in asset value and more than 6 million square feet throughout North Carolina, South Carolina, Virginia and Georgia. For more information, please call (919) 402-9100 or go to www.dilweg.com.