CBRE Arranges Sale of Renaissance Plaza in Downtown Greensboro

CBRE announced the sale of Renaissance Plaza, a 287,464-sq.-ft. office tower located at 230 North Elm Street in downtown Greensboro, North Carolina, to Appian Investments for $22 million.

CBRE's Patrick Gildea, Matt Smith and Greg Wilson represented the seller, Richardson Properties, in the transaction.

Renaissance Plaza is a 19-story office tower located at the corner of North Elm Street and Abe Brenner Place in the heart of downtown Greensboro. Delivered in 1990, the property features a two-story atrium lobby, an attached six-level parking deck with 300 spaces, an on-site cafe and floor-to-ceiling glass overlooking the city's central business district.

Richardson Properties completed nearly $4 million in capital improvements in 2023, including renovations to the lobby and common areas, elevator upgrades and enhancements to key building systems. The property is anchored by a roster of longstanding tenants spanning the financial services and legal sectors, including Arch Mortgage Insurance, Brooks Pierce, Fox Rothschild, Schell Bray and RSM US.

“Markets like Greensboro demonstrate an opportunity for regional investors to acquire premier assets in the market,” said Matt Smith, Senior Vice President, CBRE. “As the broader office market recovers, we anticipate an uptick in trading volume across secondary markets in the Carolinas.”

Located directly across from the Steven Tanger Center for the Performing Arts, Renaissance Plaza sits within walking distance of downtown restaurants, hotels, entertainment venues and civic institutions. Its location along North Elm Street provides convenient access throughout the Piedmont Triad while placing tenants at the center of Greensboro's business and cultural activity.