Legacy Commercial Property Acquires 425k SF Office Building in Charlotte, NC

Legacy Commercial Property has acquired 525 N. Tryon Street, a 19-story, 425,300-square-foot Class A office tower in Charlotte’s Uptown district, for $24 million — significantly below its prior appraised value of nearly $100 million and the $60 million paid by the previous owner in 2014.

The property is 46% leased, presenting Legacy Commercial Property with the opportunity to reposition the asset and backfill more than 225,000 square feet in one of the fastest-growing cities in the country. Located steps away from the Bank of America Stadium and the Charlotte Convention Center, it sits at the optimal location for tenants and the local business community. Current tenants include the Centralina Council of Governments, Frontier Growth and Hamilton Stephens Steele + Martin.

Known for its multi-generational expertise in transforming properties, Legacy Commercial Property, continues its strategic expansion in the office sector. The company remains an active force in this market as an all-cash buyer with a 100% close rate once under contract. This marks the 14th office building for Legacy Commercial Property, with four now in the Charlotte area.

“We’ve seen a big opportunity in the Charlotte office market for years given the growth in the region, and 525 N. Tryon is an opportunity to invest further into the community,” said Keith Hoogland, CEO of Highland Ventures. “With three other office buildings in Charlotte and with people quickly returning to the office, we saw an opportunity to invest in a Class A building in a fantastic area of the city.”

At 525 N. Tryon Street, Legacy Commercial Properties is pursuing amenity and common area upgrades, modernizing core building systems and deploying capital to support a refreshed leasing strategy. These strategic advancements aim to elevate the tenant experience through improved leasing terms and high-quality property services. The company has partnered with Insite Properties to oversee local leasing and property management.

Legacy Commercial Property has made a long-term investment in Charlotte, a market with strong growth and a community well-known to the company. As the company has demonstrated in the market, it continues portfolio growth by acquiring undervalued real estate that offers long-term upside.

With more than 40 years of deep-rooted experience as operators specializing in middle-market and growing cities, Legacy Commercial Property was born out of Family Video and its parent company, Highland Ventures, which also owns and operates Marco’s Pizza franchises, Highland Pure Water & Ice and Intune Physical Therapy. Built on a foundation of owning and operating nearly all Family Video real estate, the company has evolved into a premier commercial real estate enterprise. Led by the Hoogland family for generations, Legacy Commercial Property has refined its expertise in real estate management and development. Today, the company oversees more than 700 properties nationwide, blending a deep understanding of community needs with an extensive network of potential tenants.

For more information on Highland Ventures, visit highlandventuresltd.com, and for more information on Legacy Commercial Property, visit legacypro.com.

About Highland Ventures
Highland Ventures is the parent company of Legacy Commercial Property (700+ properties), Hoogland Restaurant Group (largest franchisee of Marco’s Pizza), Highland Pure Water & Ice, and Intune Physical Therapy. Highland Ventures operates more than 700 retail locations across the United States. It has developed more than 450 retail strip centers under its commercial property division, with tenants ranging from Fortune 500 companies to local community retailers.

About Legacy Commercial Property
Legacy Commercial Property is a full-service commercial real estate company specializing in leasing, acquisitions, development, construction and property management. With over 40 years of site selection, construction and retail success, its real estate portfolio consists of over 700 properties and over six million square feet spread across 21 states. Investing primarily in the retail and office assets classes, the brand’s properties are primarily located in rapidly growing, middle-market cities across the U.S.

For more information on Legacy Commercial Property, visit legacypro.com, and to view the company’s current property portfolio, visit legacypro.com/properties.

Legacy Commercial Property is continuing to expand its retail portfolio. To share information about available properties that align with the company investment criteria, visit legacypro.com/real-estate-investing.

For additional questions, reach out to Sam Stilp at [email protected].