**Morning Calm Management and Praelium Acquire Charlotte Plaza for $70M**
Morning Calm Management and Praelium Commercial Real Estate have partnered to acquire Charlotte Plaza, a 643,000-square-foot, 27-story office tower located at 201 South College Street in Charlotte’s Central Business District. The purchase price was $70 million.
Originally built in 1982, the high-rise is currently only 32% occupied but has historically maintained occupancy levels above 90%. The property features on-site retail, including a location of the STK Steakhouse, and offers direct access to the Overstreet Mall — an elevated pedestrian corridor that links several office buildings, retailers, restaurants, parking garages, and hotels in Uptown Charlotte.
The tower was transferred to a special servicer in January 2023. South College Street LLC was listed as the seller, while Rabina Properties is identified as the owner on the Charlotte Plaza website. CBRE’s Patrick Gildea and Matt Smith represented the seller in this transaction.
