Winston-Salem Office Tower For Sale

The One West Fourth building in Winston-Salem is up for sale. Ardent Companies is the owner of the 14-story, 439,000 square foot office tower. JLL has the marketing assignment.

The property sits on about 2.3 acres and has an on-site fitness center and attached parking garage. A deli and cafe is located on the building’s first floor.

The building is currently 73% leased, representing an increase in tenants in the last few years. The Triad Business Journal reports that Wells Fargo moved out of One West Fourth in 2016, reducing the building’s occupancy to below 30% and causing it to enter special servicing on its mortgage. 

One West Fourth’s tenants have in-place rents 10% below market value, with the average lease term being 6.6 years.

Tenants that have signed leases include CBX Solutions, which has signed over 50,000 square feet, and Cook & Boardman, which has signed 40,000 square feet.

The post Winston-Salem Office Tower For Sale appeared first on Connect CRE.