Charlotte’s Ballantyne Tower trades for $71.5 million

CAROLINAS, Jul. 14, 2025 – JLL Capital Markets announced today it has arranged the $71.5 million sale of Ballantyne Tower, a Class A office building with 260,958 square feet in Charlotte, North Carolina.

JLL marketed the property on behalf of the seller, SPX FLOW, Inc., and procured the buyer, a joint venture of Estein USA and Vanderbilt Office Properties. Vanderbilt will manage and operate the property for the buyer.

Ballantyne Tower is positioned on a 5.4-acre site at 13320 Ballantyne Corporate Place in South Charlotte. The property benefits from its location just under a quarter mile from Interstate 485 with connections to Interstates 77 and 85. Additionally, Ballantyne Tower is in close proximity to Uptown Charlotte, Charlotte Douglas International Airport and some of Charlotte’s most affluent residential neighborhoods. The immediate area surrounding the property is highly amenitized with a variety of multifamily units, hotel rooms and retail amenities, and is directly across from The Bowl, a more than $1 billion development project.

Completed in 2011, Ballantyne Tower offers nine floors of office space with best-in-class buildouts alongside a market-leading amenity package. Amenities include a state-of-the-art fitness center, a rooftop amenity terrace, men’s and women’s locker rooms, top-of-the-line cafeteria/bistro, expansive tenant lounges and a 288-seat auditorium. Ballantyne Tower is fully leased to Dentsply Sirona, Columbus McKinnon and SERC Reliability Corporation.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Director Ryan Clutter, Director CJ Liuzzo, Senior Director Daniel Flynn and Associate Chris Irwin.

“As the office market thaws out from a property specific downturn resulting from work-from-home dynamics of the pandemic and elevated interest rates, investors are now realizing that there are segments of the office market that outperform. These are well-located, highly amenitized buildings that typically offer a strong workplace experience,” said Clutter. “The market is realizing these assets will create significant investor returns as companies want to occupy these buildings with their employees in the office. Ballantyne Tower represents this sector of the office market.”

“We continue to see investors flock to best-in-class office properties such as Ballantyne Tower, which boasts a stable rent roll with national, well-respected tenants, a market-leading amenity package and modern interior finishes,” said Liuzzo. “As a result, we saw multiple bids on this offering, signifying renewed investor interest in the office sector.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Based in Charlotte, N.C., SPX FLOW, Inc. improves the world through innovative and sustainable solutions. The company's product offering is concentrated in process technologies that perform mixing, blending, fluid handling, separation, thermal heat transfer and other activities that are integral to processes performed across a wide variety of nutrition, health, and industrial markets. SPX FLOW has operations in more than 25 countries and sales in more than 140 countries. To learn more about SPX FLOW, please visit www.spxflow.com.

Estein USA and its affiliates have been in business since 1974, The firm’s early U.S. investments comprised residential and commercial projects, retail centers and other valuable properties. Since the early 1990s, Estein USA’s investments have been made exclusively in the United States and expanded to office buildings, power centers, hotels, industrial buildings and lifestyle centers. Since its founding, Estein USA has invested over $6.5 billion of equity.

Vanderbilt Office Properties is a vertically integrated office investor / operator which targets investment opportunities in high growth markets throughout the U.S. VOP has invested +$5.5 billion and acquired/developed 100+ buildings over 40 transactions since inception in 2014. VOP currently manages 15.5 million square feet across the U.S.. Learn more at www.VanderbiltOP.com