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Report: Preferred Office Properties buys Charlotte, NC, office park for $107.6M

Preferred Office Properties LLC purchased the Morrocroft Centre on Morrison Boulevard, in Charlotte, N.C., from Clarion Partners LLC for $107.6 million, the Charlotte Business Journal reported, citing a source with knowledge of the deal.

The sale closed last week, but a deed was not recorded by the Dec. 31, 2019, deadline.

The office park includes three buildings totaling 290,602 square feet. The deal also includes two parking decks with 1,158 spaces. The property was 90% leased at the time of sale.

New York-based Clarion Partners purchased the property in 2006.

Preferred Office Properties is a subsidiary of Preferred Apartment Communities Inc..

CBRE marketed the property.