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Duke Energy to offload Charlotte, NC, property for up to $675M in sale-leaseback

Duke Energy Corp. is selling its 40-story, under-construction Charlotte Metro Tower in uptown Charlotte, N.C., in a sale-and-leaseback deal for up to $675 million, the Charlotte Business Journal reported, citing a company spokesperson.

A partnership of CGA Capital and developer Childress Klein will buy the building at 525 S. Tryon St. once the construction completes in 2022, the report noted, adding that the property will be occupied by Duke Energy.

Duke Energy acquired the 2.1-acre property, across from its South Tryon Street headquarters, in 2017 for $27.5 million, according to the report. The building will offer approximately 1 million square feet of office and retail space and a 1,100-space parking garage, with the retail section to take up roughly 25,000 square feet on the ground floor.