Riverside Investment & Development and Singerman Real Estate have acquired the former Two Wells Fargo Center in Charlotte, with plans to reposition the property as a large-scale mixed-use destination. The joint venture purchased the office complex, located at 301 S. Tryon St. and now branded as 301 South Tryon, for $36.5 million, according to reporting from the Charlotte Business Journal.
The transaction involves a substantial downtown asset comprising two interconnected office towers. The complex includes a 30-story high-rise and an 11-story companion tower that together contain more than 800,000 square feet of office space. In addition to the office component, the site offers more than 30,000 square feet of retail space, creating a platform for a range of commercial uses.
CBRE handled sales representation on behalf of the seller, with Patrick Gildea and Matt Smith leading the assignment. The brokerage team marketed the property and represented the seller in negotiating the disposition to the Riverside and Singerman joint venture. Specific details about the seller were not disclosed in the source material.
Following the acquisition, Riverside Investment & Development and Singerman Real Estate intend to undertake a comprehensive redevelopment of 301 South Tryon. The plan calls for introducing a broader mix of uses on the site, including commercial, retail, residential, and hospitality components. While the existing complex is primarily office and retail, the addition of residential and hotel uses is expected to significantly diversify the property’s income profile once the project is completed.
Redevelopment work at 301 South Tryon is scheduled to begin in 2027, indicating that the joint venture is in the early planning and design phase. No detailed phasing, construction budget, or specific program breakdown for the residential or hospitality elements has been disclosed at this stage. However, the move signals a long-term repositioning strategy for a former single-tenant-oriented office complex in Charlotte’s core.
The acquisition builds on Riverside’s recent development activity in the city. Since 2021, the firm has developed a 42-story multifamily tower and a 43-story office building in Charlotte, highlighting its ongoing involvement in the local high-rise market. The latest purchase and planned redevelopment at 301 South Tryon extend that footprint to a major existing office asset that is slated to transition toward a mixed-use profile over the coming years.
