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**Highwoods Properties Acquires Premier Charlotte Office Tower for $223 Million**
Highwoods Properties, Inc. (NYSE: HIW) has finalized the acquisition of 6Hundred at Legacy Union, a newly developed 24-story Class AA office tower located in Charlotte’s Uptown District. The total expected investment for the property is $223 million. The seller was Lincoln Property Co.
Delivered in 2025, the tower spans 411,000 square feet and is currently 84% leased with a weighted average lease term exceeding 12 years. The property is directly adjacent to and connected with two other Highwoods assets: Bank of America Tower at Legacy Union and SIX50 South Tryon at Legacy Union. With this acquisition, Highwoods’ total footprint at Legacy Union expands to 1.6 million square feet of premier Class AA office space.
The investment total includes $8.5 million allocated for near-term building improvements and anticipated leasing capital expenditures to bring the property to full stabilization. This figure is net of $15.7 million in free rent concessions.
Highwoods CEO Ted Klinck commented, “With in-place rents more than 20% below market, we expect to deliver strong NOI and cash flow growth from our Legacy Union portfolio.”
This strategic acquisition further solidifies Highwoods’ position in the Charlotte office market and enhances its portfolio of high-quality urban office properties.
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