Dilweg Sells Park Abbey in Charlotte
DURHAM, N.C. (May 2, 2019) – Commercial real estate investment firm, The Dilweg Companies, announced today the sale of Park Abbey in Charlotte.
Park Abbey is a five-story office building located on Park Road in Charlotte’s Montford Park submarket. The building totals 111,436 square feet and was built in 1970. Major tenants include Hire Right, Child Care Resources, and Sola Salons. The building was 97 percent leased at the time of sale. The Dilweg Companies originally acquired Park Abbey in 2007.
“The Park Road office investment submarket has been extremely strong lately, and we felt this was a great time to exit this stabilized asset,” said Anthony Dilweg, CEO of the Dilweg Companies. “We have been ecstatic with the performance of Park Abbey over the last several years and look forward to witnessing the next phase of life for the property.”
Dilweg currently owns in excess of 1.5 million square feet in Charlotte and more than 6.3 million square feet in the Southeast.
The HFF investment advisory team representing the seller consisted of senior managing director Ryan Clutter, managing director Scot Humphrey, senior director Chris Lingerfelt and director Zack Drozda.
About The Dilweg Companies
The Dilweg Companies is a full-service commercial real estate investment firm based in Durham, North Carolina. Since its launch in 1999, 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 $1.74 billion in assets and more than 11.6 million square feet throughout North Carolina, Georgia, Florida and Tennessee. For more information, please call (919) 402-9100 or go to www.dilweg.com.