Investors Aim Big in Charlotte
Major investors now have a permanent interest in Charlotte, HFF senior managing director and co-head of the Charlotte office Ryan Clutter tells us. A number of institutional investors have been targeting the city for some time, but in recent years the interest has grown, Ryan explains. Since the recession, the Charlotte economy has proved itself more resilient—and more diverse—than was previously appreciated. "Charlotte led most of the Southeast in the recovery following the recession, and the city ranks near the top of most cities nationally from a growth perspective," says Ryan.
Charlotte, in fact, has received international attention: the United Nations forecasts that it's going to be the fastest-growing city in the US between now and 2030. "With our strong economy and tremendous growth drivers, institutional investors realize that the potential to push rents and investment returns here is very compelling," Ryan says. Recently Ryan was part of the team that repped California-based KBS Real Estate Investment Trust in its $108M sale of 101 Independence Center to LRC Properties and Cornerstone.
