Cousins Properties buys 300 South Tryon for $317.5 million, expanding its Charlotte office holdings

Deal adds fully leased Uptown tower to an expanding Charlotte footprint

Cousins Properties has acquired 300 South Tryon, a 25-story Uptown Charlotte office tower, for $317.5 million, adding another major Center City asset to its portfolio. The company described the transaction as an off-market purchase and said the building is fully leased with a weighted average lease term of six years.

The property totals about 638,000 square feet of office space and was completed in 2017. The tower sits on South Tryon Street near Romare Bearden Park and is connected to the 217-room Kimpton Tryon Park Hotel, part of the larger mixed-use development that helped anchor a new wave of investment in the area after the Great Recession-era pause in new Uptown office construction.

How the purchase will be financed

Cousins said it intends to fund the acquisition through a mix of proceeds from non-core asset sales, debt financing and/or the settlement of common shares previously issued on a forward basis under its at-the-market program. As part of that plan, the company said it is under contract to sell Harborview Plaza in Tampa and a land parcel at 303 Tremont in Charlotte for combined gross proceeds of $63.2 million.

Why 300 South Tryon matters in Charlotte’s office market

300 South Tryon was developed as a Class A tower with ground-level retail and a prominent design profile. It opened at a time when Uptown was beginning to see new office deliveries after several years with little new supply. Early leasing at the project included an anchor commitment from global asset manager Barings, along with additional corporate and professional-services tenants.

The acquisition comes as Charlotte’s office market continues to evolve, with both new construction and redevelopment reshaping Center City. In recent years, South End has drawn major investment in amenity-rich office properties, while parts of Uptown have also moved toward adaptive reuse, including office-to-residential conversions in response to shifting workplace patterns and tenant demand.

How it fits Cousins’ recent Charlotte activity

The purchase of 300 South Tryon follows Cousins’ expansion in Charlotte in recent years, including its acquisition of Vantage South End, a two-tower office property in the South End submarket, completed in December 2024 for $328.5 million. Together, the transactions increase Cousins’ exposure to two of Charlotte’s most active office districts: Uptown’s core financial and civic center and South End’s fast-growing, transit-oriented corridor.

• Asset acquired: 300 South Tryon (Uptown Charlotte)

• Purchase price: $317.5 million

• Size and status: ~638,000 square feet; fully leased; weighted average lease term of six years

• Completed: 2017

The acquisition adds a fully occupied, recently built office tower in the heart of Uptown at a time when owners and tenants are increasingly differentiating between newer, amenity-heavy buildings and older office inventory.