CBRE Arranges Sale of SEVEN20 Parking Facility at Legacy Union

CBRE announced the sale of SEVEN20 at Legacy Union, a 1,074,705-sq.-ft. parking facility in Charlotte, North Carolina, to Highwoods Properties (NYSE: HIW).

CBRE’s Patrick Gildea and Matt Smith represented the seller, Lincoln Harris, in the transaction.

Located at 720 South Church Street, SEVEN20 is the largest office parking facility in the Carolinas. The 14-story facility features a double-helix structure, two elevator towers with five high-speed passenger elevators, and 3,057 parking stalls. Built in 2019, it is centrally located within Charlotte’s CBD, immediately surrounded by 10.5 million sq. ft. of corporate office space.

“This transaction highlights the continued demand for well-located assets in the Charlotte market, particularly within the thriving Uptown core,” said Patrick Gildea, Vice Chairman and Co-Head of U.S. Office Capital Markets, East Region, CBRE. “SEVEN20’s strategic location and critical role in supporting the city’s largest employment hub make it a valuable asset.”

The facility also includes 14,360 sq. ft. of ground-floor retail along Church Street. A pedestrian bridge connects the fifth level of the parking garage to the Bank of America tower. Due to its proximity, the facility is also equipped to accommodate guest parking for NFL Carolina Panthers games, MLS Charlotte FC matches, concerts and other special events.

"Lincoln Property Company is honored to have developed SEVEN20 at Legacy Union and are thrilled to continue managing this premier asset and to further strengthen our partnership with Highwoods and the Legacy Union project,” said John Crowell, Senior Vice President and Director of Property Management in the Carolinas, Lincoln Property Company. "With our extensive property management presence in the Carolinas, we remain committed to delivering exceptional service to the Charlotte community and customers it serves and supporting the region’s continued growth."

The CBD submarket accounts for 33% of the Charlotte office market and regularly hosts 120,000 workers, making it the largest employment hub in the city. SEVEN20 offers immediate access to the entire CBD, South End, and LYNX light rail, and is just seven miles from the Charlotte Douglas International Airport.