CHARLOTTE, N.C.--(BUSINESS WIRE)--The Fallon Company today announced its acquisition of 301 South McDowell Street in Charlotte, North Carolina. The 13-story, 184,144 square foot, multi-tenant office building will serve as The Fallon Company’s Southeast regional headquarters, broadening the company’s presence in the region and Charlotte market.
“Given Charlotte’s strong economic forecast, commercial and residential urban remigration, and central regional location, we plan to continue making significant investments in this market,” said Michael Fallon, Chief Investment Officer of The Fallon Company.
301 South McDowell Street sits at the nexus of Uptown and Midtown, offering convenient access to a highly sought-after amenity base surrounding The Metropolitan, inclusive of a diverse array of restaurants, retailers, parks, newly constructed luxury apartments, and the Little Sugar Creek Greenway. The building also benefits from a wealth of economic activity stemming from its proximity to Uptown, the neighboring Mecklenburg County Courthouse, and key hospitality assets in the Sheraton and Le Meridien.
From both Uptown and I-277, 301 South McDowell Street is a highly visible, prominent asset in Charlotte’s fast-growing urban landscape. The building is ideally located in Uptown Charlotte’s re-surging Second Ward, a thriving urban enclave poised to enhance Midtown’s connectivity to Uptown and promote a walkable “live, work, play” ecosystem.
Terms of the deal, which was negotiated by Holliday Fenoglio Fowler, L.P. (HFF), were not disclosed.
“We chose 301 South McDowell Street to be the headquarters for our Southeast region due to its prime location and connectivity to the city,” said Michael Fallon. “We look forward to working with our tenants and the community to enhance its offerings, while also continuing to expand our footprint in Charlotte.”
The Fallon Company entered the Charlotte market in 2016 when it was selected as master developer and lead investor for the redevelopment of the 16.7-acre mixed-use Strawn Cottages site, one of the largest transit-oriented development sites in the Charlotte area.
Experts in master planning and urban design, The Fallon Company was established by Founder & CEO Joseph F. Fallon in 1993. Headquartered in Boston, Massachusetts, the company has successfully developed billions of dollars of mixed-use real estate along the East Coast, earning it a reputation for transforming neighborhoods throughout the Northeast into exceptional environments that offer best-in-class residential and commercial experiences.
About The Fallon Company
Founded in 1993 and headquartered in Boston, The Fallon Company LLC is one the East Coast’s premier real estate investment and development companies. The Fallon Company’s diverse portfolio of notable commercial, residential and mixed-use projects continue to define skylines in major markets throughout the Northeast. In Boston, its signature project, Fan Pier, has served as a catalyst for waterfront growth. Fallon has also been an owner and developer of numerous other projects on Boston’s waterfront, including The Westin Boston Waterfront Hotel, Park Lane Seaport Apartments and the Renaissance Boston Waterfront Hotel. For more information about The Fallon Company, visit www.falloncompany.com.