C
ousins Properties is expanding its presence in Charlotte's South End with a significant acquisition. The Atlanta-based firm plans to close on the purchase of Vantage South End, a prominent mixed-use complex at 1220 South Tryon Street, for $328.5 million next month. Developed by local firm Spectrum Companies, the property spans 635,000 square feet across five acres and features two office buildings, seven restaurants, and a central courtyard.

    The acquisition price of $517 per square foot represents a discount to replacement cost, according to Cousins Properties' President and CEO Colin Connolly. The complex's office space is fully leased, with notable tenants including DP World, LendingTree, and Grant Thornton. However, overall occupancy recently dipped to 97% following the closure of The Good Wurst Company.

    This deal further solidifies Cousins Properties' presence in South End, where it already owns two other properties: The RailYard at 1414 South Tryon Street and South End Station at 201 South Bland Street. The sale is expected to be one of the largest commercial real estate transactions in Charlotte this year, with other notable deals including Vanguard Group's $117 million acquisition of an office campus in University Research Park.