Investicore Holdings purchased a 14-building 568,811-square-foot Charlotte complex for $64 million. Ares was the seller.

The Charlotte Business Journal reports the 42-acre park, called ThExchange, is 60% occupied. One building is entirely vacant. Investicore plans to convert part of one of the buildings into a food-and-beverage area.

John Vickers of KW Commercial brokered the acquisition for Investicore. Matt Smith and Patrick Gildea of CBRE brokered it for Ares. The park was listed for sale in April. A KW Commercial team led by Vickers will handle leasing efforts at ThExchange.

The owner prior to Ares, The Dilweg Cos., spent about $34 million and two years overhauling the property. Those renovations were completed in 2020. The Dilweg Cos. turned the property over to Ares in 2024 after its $68.6 million loan matured and became nonperforming.

The post Investicore Acquires 14-Building Charlotte Office Complex appeared first on Connect CRE.