Texas firm buys south Charlotte office building for $9.6 million

TriGate Capital, a real estate investment firm based in Dallas, has purchased the Quail Plaza office building in south Charlotte for $9.6 million.

The five-story building is on Little Avenue, near the intersection of Carmel and Pineville-Matthews roads.  The building totals 86,976 square feet and is 87 percent leased

TriGate focuses on value-add investment opportunities where it can recapitalize and reposition properties, according to its website.

The Quail Plaza building was sold by an affiliate of Wells Fargo & Co., which took control of the property in 2012 through a deed in lieu of foreclosure.

Bill Simerville, Scot Humphrey, Justin Good and Chris Norvell of Cushman & Wakefield | Thalhimer’s capital markets team represented the seller.

Source: Charlotte Business Journal