INVESTMENT SUMMARY
CHARLOTTE, NORTH CAROLINA
DUKE ENERGY CENTER
THREE WELLS
FARGO CENTER
TWO WELLS
FARGO CENTER
277
CHARLOTTE
CONVENTION
CENTER
CB Richard Ellis, Inc. is pleased to present to a select group of investors the
As such, we expect this offering to attract significant interest. The buyer of
unique opportunity to acquire One Wells Fargo Center (the “Property”),
this asset will have purchased one of the most important office monuments
one of the Southeast’s preeminent office landmarks. Completed in 1988,
in the Southeast, and an outstanding investment well positioned to maintain
One Wells Fargo Center is a Class “AA” 42-story office tower totaling
its unrivaled performance for decades to come.
985,315 rentable square feet located in the Downtown submarket of
Charlotte, North Carolina. Situated on a well developed 2-acre site which
includes the Charlotte Hilton Center City Hotel and a stunning outdoor
plaza, the building serves as Wells Fargo’s East Coast Headquarters.
The Property boasts a significant history having been the headquarters
ASSET PROFILE
Property:
One Wells Fargo Center
Address:
301 South College Street, Charlotte, NC 28202
Major Tenants:
SQUARE FOOTAGE
EXPIRATION DATE
686,834
12/2021
Womble Carlyle
92,815
12/2018
a world-class corporate campus in Downtown Charlotte which includes
Poyner Spruill
36,682
6/2017
the adjacent Two and Three Wells Fargo Center.
YMCA
42,039
1/2013
Horack Talley
22,991
2/2014
Childress Klein Properties
14,544
12/2015
for both First Union Bank and Wachovia Bank, prior to the Wells Fargo
acquisition. A striking fixture on the Charlotte skyline, the Property anchors
One Wells Fargo Center is 97.8% occupied and features on-site amenities
including enviable to the Overstreet Mall, two restaurants, the Charlotte
Hilton Center City Hotel, the Childress Klein YMCA, an attached parking
garage, a sundries shop, a coffee shop, a dry cleaner, and a dedicated
light rail stop located adjacent to the Property.
TENANT
Wells Fargo
Square Footage:
Occupancy:
happen once in Charlotte. No other building in the Southeast offers the same
combination of location, enviable tenant mix, and on-site and area amenities.
2
INVESTMENT SUMMARY
97.8%
Year One NOI:
$16,391,921
Year One Cash Flow:
$15,407,290
Site Acreage:
Year Built:
The ability to acquire an asset equal to One Wells Fargo Center will only
985,315 SF
Certification:
Parking Ratio*:
2.17 Acres
1988
Energy Star
1.1/1,000 SF
*Operated at 1.4/1,000 RSF due to efficiency
*Parking ratio is above market for Downtown Charlotte which is typically 1.0 / 1,000 RSF
277
BANK OF AMERICA
STADIUM
ROMARE BEARDEN PARK
(UNDER CONSTRUCTION)
PROPOSED BASEBALL
STADIUM
BANK OF AMERICA
CORPORATE CENTER
ASSET HIGHLIGHTS
u
Wells Fargo’s East Coast headquarters
u
Below market rents provide significant upside
u
Wells Fargo’s AA- rating and significant lease term provide
excellent stability
u
Well positioned in the path of growth of Charlotte’s vibrant
downtown
u
Significant capital recently invested = Virtually a new building
from the inside out
u
Tremendous accessibility
u
Opportunity to acquire a Class “AA” asset at an attractive
basis well below replacement cost
u
Above market parking ratio
u
Energy Star label provides a tangible leasing advantage
u
Buildings in the “AA” competitive set consistently outperform
the market
u
Unique opportunity to purchase a trophy office investment in
Downtown Charlotte
u
Significant parking revenue reduces an investor’s basis
and risk
u
Connected to the Four Star Charlotte Hilton Center City Hotel
u
Direct access to the Lynx light rail
u
One of the few office buildings offering direct access to the
Overstreet Mall
MARKET HIGHLIGHTS
u
US’ second largest financial hub
u
Charlotte is rapidly becoming a leader in the energy sector
u
Historically one of the lowest CBD vacancy rates in the Country
u
Charlotte’s diversified economy
u
Charlotte’s employment growth is projected to outperform US
employment growth
3
INVESTMENT SUMMARY
EXCLUSIVE MARKETING ADVISORS:
WILL YOWELL
Vice Chairman
404.923.1475
will.yowell@cbre.com
JAY O’MEARA
Senior Vice President
404.923.1229
jay.omeara@cbre.com
RYAN CLUTTER
Executive Vice President
704.331.1211
ryan.clutter@cbre.com
PATRICK GILDEA
Associate
704.331.1217
partick.gildea@cbre.com
FOR FINANCING OPTIONS:
FOR UNDERWRITING INQUIRIES:
JEFF ACKEMANN
Executive Vice President
404.812.5121
jeffrey.ackemann@cbre.com
STEVE O’BRIEN
Senior Analyst
404.504.7935
steven.obrien@cbre.com
For more information and to download additional offering materials, please visit www.cbremarketplace.com/onewellsfargocenter