CHARLOTTE, N.C., January 5, 2022 — Real estate investment firm Redline Property Partners announced today that it has purchased Carnegie Point, the 107,000-square-foot building located at 6101 Carnegie Blvd. in the highly coveted SouthPark submarket. Redline acquired the asset in a joint venture with Boston-based Long Wharf Capital LLC.
Redline previously served as asset manager for the building and has been intimately involved with its transformation over the last five years. Redline will continue to improve the building’s finishes, amenities and systems and will implement its tailored, concierge-style management platform to better serve the needs of building occupants.
“Our goal is to deliver creative office space that provides an exceptional experience and great value to tenants,” said Redline President and Managing Partner Andrew Webb. “A trademark of Redline is our consumer-focused management style. Tenants will see immediate, positive changes as a result.”
Carnegie Point is strategically located at the intersection of Carnegie Boulevard and Congress Street in the heart of SouthPark. The building includes a five-story tower, abundant covered parking, a tenant lounge, outdoor patio and stunning views of the SouthPark skyline.
“With numerous nearby retail amenities and direct access to uptown Charlotte, the building has superior accessibility and visibility, and its central location allows companies to attract and retain employees from all over the metro area,” Webb said.
To deliver the best service possible, Redline has engaged Meredith Ball and Karah Tanneberger with Foundry for leasing services and JLL for property management.
“We are thrilled to continue our work at Carnegie Point under Redline’s ownership. The building is a stellar offering in the ever-attractive SouthPark submarket, and is continually one of the most active assets in our portfolio,” says Meredith Ball, Partner with Foundry Commercial.
About Redline Property Partners
Founded in 2017, Redline Property Partners is a privately-owned commercial real estate investment, management and development firm specializing in office, creative office / flex and adaptive reuse projects in the Carolinas and Minnesota. Led by a team of industry veterans with an average of 30 years of experience and more than $8 billion of combined transactions, Redline employs innovative strategies to improve asset quality and maximize property value. Using a “block-by-block” granular approach, Redline finds great real estate suffering from short-term distress and transforms properties into spaces adapted for the new economy.
About Long Wharf Capital LLC
Long Wharf Capital LLC is a Boston-based private equity real estate manager focused exclusively on value-added investments in the U.S. Formed in 2011, the firm invests on behalf of institutional clients including pension funds, endowments, foundations, and family offices. Long Wharf’s investment approach utilizes multiple value creation strategies to target opportunities across property sectors and U.S. markets. Since Long Wharf’s first fund in 2012, the team has invested over $935 million of equity in more than 55 investments across the U.S. with a gross value of $3.0 billion. For further information, visit: www.longwharf.com.
