OPI Picks Up Metro Charlotte Office Asset for $35M
- Dec 29, 2020
Office Properties Income Trust has acquired a 150,000-square-foot, Class A office building in Fort Mill, S.C., for $35.1 million. Completed in 2019, the property is fully leased to RoundPoint Mortgage Servicing Corp.— a subsidiary of Freedom Mortgage Co.—serving as its corporate headquarters.
RoundPoint broke ground on the three-story building in mid-2018, as reported by Charlotte Business Journal. The site was home to the Charlotte Knights stadium and is part of the 350-acre, mixed-use Southbridge project, developed by Lincoln Harris with owner The Gato Corp.
Spanning 16 acres at 446 Wrenplace Road, the property sits along Interstate 77, 15 miles southwest of downtown Charlotte, N.C. The interchange between I77 and Interstate 485 is 6 miles north of the site.
OPI was formed in late 2018, through the merger of Government Properties Income Trust and Select Income REIT. The current sale reflects the company’s strategy of purchasing newly constructed, single-tenant Class A assets with long-term leases, according to David Blackman, president & CEO of the REIT. Earlier this year, the company announced Blackman’s retirement in 2021, with Christopher Bilotto named as his successor.