Grinnell Water Works / Charlotte, N. carolina

Core, Class A “Brick and Beam” Office Building

Class A, 52,949 square foot asset purchased well below replacement cost

Property located in the thriving “24/7” work-live-play West Morehead Corridor neighborhood, only 0.25 miles from Uptown Charlotte

Asset was originally constructed as a manufacturing facility in 1930, but was transformed into creative-office in 2001

Property has a history of high occupancy, fully leased to a diverse mix of tenants, with lease renewals executed at significant rent increases and little to no downtime

Property offers steady cash flow yield to investors of 9.0+%

acquisition: December 2016