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Goldman Sacks, Lincoln Harris, Honeywell JV Sells Newest Charlotte Legacy Union Office Building

| Commercial Real Estate News, Deals, Featured, Office| Views: 0

Real estate investment management company PRP has acquired the Honeywell Global Corporate headquarters at Charlotte Legacy Union. The release was published by Lincoln Harris on behalf of the seller — a fund managed by the real estate business within Goldman Sachs Asset Management (Goldman Sachs), along with Lincoln Harris and Honeywell International Inc. No sale price was specified in the announcement.

Honeywell Tower rises 23 stories above South Mint Street and includes 330,000 square feet of class A Uptown Charlotte office space. The property was completed just this year, the newest element of Legacy Union — Lincoln Harris and partners’ 10-acre, mixed-use development. In fact, this sale comes shortly after electronics manufacturer Honeywell finalized the relocation of its global headquarters operations from New Jersey to Charlotte.

The company’s 15-year lease, which anchors the development and spans 10 floors, accounts for the majority of rentable space in the building. The remainder includes the lobby, ground floor retail and 12 levels of dedicated parking. Notably, Honeywell employees move seamlessly through the building thanks to integrated touchless technologies, like facial recognition and Bluetooth access. On-site amenities also include a 3,500-square-foot fitness and wellness center; 360-degree views of the city from the rooftop patio; and electric car charging stations. Additional perks include up-close views of the Bank of America Stadium directly across the street, as well as a highly convenient location near Charlotte Douglas International Airport, which is just six miles away.

“Despite the challenges of COVID, the partnership between Goldman Sachs, Lincoln Harris and Honeywell enabled us to create a unique asset that is one of the smartest office buildings in the world,” said Johno Harris, president of Charlotte-based Lincoln Harris. “Honeywell’s decision to bring its headquarters to this region and to Charlotte further proves the thesis that when we combine a great community, region, and partners, we will continue to attract and draw transformative companies like Honeywell.”

At the official opening of the company’s new global headquarters location, Honeywell CEO, Darius Adamczyk, reportedly remarked that the relocation was “one of the best decisions ever made” and lauded the city on its countless advantages.

“It’s a great place to live, it’s a great place for talent and the hospitality is second to none,” he told The Charlotte Observer. “Charlotte is a thriving city. It’s doing well economically. It’s hard to pick just one thing. The reality of being here is even better than local leaders portrayed.”

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