Town Lane, a real estate investment management firm, and Trinity Capital Advisors, a commercial real estate acquisition and investment firm, are pleased to announce the acquisition of 440 South Church.

The 15-story, 388,657 square-foot Class-A office building is situated at the intersection of Uptown’s bustling business and cultural district and Charlotte’s vibrant South End, a location which has experienced nearly one million square feet of leasing in just a three-block radius over the last three years.

440 South Church is currently mid-40s% occupied, offering a compelling leasing opportunity in this popular but supply-constrained area of Charlotte’s office market. The property is ideally positioned to benefit from the area’s continued growth, including the heavily anticipated Brooklyn & Church, an adjacent redevelopment project encompassing an entire block directly across the street from 440 South Church. The Brooklyn & Church redevelopment will transform the former Duke Energy building into 57,000 square feet of retail and 460 sustainably developed luxury residential units.

New ownership plans to invest more than $20 million in capital improvements and renovations to begin immediately. Improvements will include a significant repositioning of the lobby, the addition of hospitality quality lounges, an improved street-level retail presence, and upgrades to the 2nd floor tenant amenity experience, common areas, and building systems.

“We believe 440 South Church represents a rare opportunity to acquire a high-quality office building in one of Uptown Charlotte’s most dynamic and evolving submarkets at a basis that is over 70% below the cost of new construction today. We are thrilled to partner with our long-standing friends at Trinity Capital to execute a comprehensive renovation program designed to meet the needs of today’s tenants in a market with perhaps the best job growth fundamentals in the country” said Garret Overlock, Managing Director at Town Lane.

Trinity Capital originally developed 440 South Church in 2009.

“We focus on the best office assets in dynamic markets. Charlotte’s diminishing supply of class-A space and no new office deliveries within the next two years presents the perfect opportunity for 440 South Church to capture market demand,” said Walker Collier, Managing Partner at Trinity Capital. “Market fundamentals and our previous experience with the building are an advantageous component of our repositioning and leasing strategy. We knew the building had tremendous potential back then and believe there’s even more potential for it now.”

The property features floor-to-ceiling glass, fitness center and spa-like locker rooms, and conference and training space. Tenants, including Driven Brands and HDR Engineering, benefit from a diverse scene of dining, arts, and outdoor experiences with over 25 restaurants, multiple museums, theaters, and green spaces within two blocks.