Dilweg Acquires Resource Square I, II, V in Northeast Charlotte
Posted on February 15, 2016
DURHAM, N.C. (Feb., 2016) – Commercial real estate investment firm, The Dilweg Companies, announced today the acquisition of three Class A office buildings located in Charlotte’s University/Northeast submarket.
Resource Square I, II and V total 335,593 square feet and are situated on 30.9 acres. They were built between 1997 and 2000. At the time of sale, the buildings were 81 percent leased. Major tenants include Brooks Equipment Company, FiServ, Huber Engineered Woods and Dassult Systems.
“Resource Square represents an excellent opportunity to invest in high quality office buildings in Charlotte’s rapidly tightening University submarket,” said Anthony Dilweg, CEO of The Dilweg Companies. “We are very bullish on Charlotte’s suburban office market and look forward to repositioning these assets.”
The purchase of Resource Square brings Dilweg’s Charlotte office holdings to nearly 900,000 square feet. The firm also owns three other Charlotte office assets, Park Abbey in the Park Road submarket, SouthPark Center in the SoutPark submarket and the Johnston Building in Uptown.
Dilweg has selected Foundry Commercial to lease the assets. Charles Jonas and Karah Stumler will lease the assets.
“We are honored to have been selected by Dilweg Companies to lease the Resource Square buildings," said Charles Jonas, leasing agent and market leader at Foundry Commercial. "These are tremendous assets that have led the market since they were developed from 1997 to 2001. Their location within a high-growth submarket makes them primed to meet regional demand, and we are excited to partner with the Dilweg team to restore these assets to their market-leading condition and desirability to tenants so they can call these beautiful assets home."
Dilweg recently sold 121 West Trade, a 32-story class A office building in Uptown, in December.
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 $935 million in assets and more than 9.3 million square feet throughout North Carolina, South Carolina, Virginia and Georgia. For more information, please call (919) 313-3483 or go to www.dilweg.com.