Mohr Capital, a Dallas-based, privately held real estate investment firm, has sold University Highlands office building located at 10330 David Taylor Drive in Charlotte, North Carolina, to CIM Group, a commercial real estate firm located in Scottsdale, Arizona. Mohr Capital acquired the 100,000-square-foot facility on a speculative basis in 2017, improved the property and secured a single, long-term tenant, United Rentals Inc., earlier this year before the finalizing the sale.
“By stabilizing the asset, making improvements and securing a credit tenant in Charlotte’s strong commercial real estate market, we added significant value to this asset for both Mohr Capital and the buyer,” said Gary Horn, Chief Investment Officer at Mohr Capital. “We intend to make other investments in the Charlotte market in the future.”
Horn and Bob Mohr, Founder and Chairman of Mohr Capital, handled the sale on behalf of Mohr Capital.