A flex office building tucked near Charlotte Douglas International Airport just changed hands for $11 million, netting its owner a tidy markup over what it paid just three years earlier. CB Equities sold Forest Park IV at 600 Forest Point Circle in southwest Charlotte, capping off a repositioning play that began when the firm bought the property for $9.2 million back in 2023.
The sale was reported by Connect CRE, which detailed both the $11 million sale price and the $9.2 million acquisition cost from 2023. The single-story building sits about nine miles southwest of downtown Charlotte, according to REBusinessOnline, placing it within easy reach of the airport corridor that has drawn steady investor interest in recent years.
Forest Park IV was built in 1999, according to CompStak, which also lists the building at 64,198 square feet. Other outlets have cited different figures for the same property — NEREJ describes it as a 64,000-square-foot building, while REBusinessOnline has referred to it as 62,000 square feet — so the exact footprint depends on which source is doing the counting.
From Office Building to Flex Space
CB Equities converted Forest Park IV into a flex office property after its 2023 purchase, per reporting cited by Connect CRE attributing the detail to the Charlotte Business Chronicle. The repositioning appears to have paid off: the building has drawn tenants including Flexential and Willis Towers Watson, which signed a 22,000-square-foot, 11-year lease there, according to REBusinessOnline.
Atlantic Property Management will provide property-management services at the 600 Forest Point Circle address, according to the New England Real Estate Journal. CBRE brokers Matt Smith, Patrick Gildea, Robert Hardaway, Kris Westmoreland and Alek Salfia represented the seller in the transaction, per the Connect CRE report.
A Market Finally Finding Its Footing
The sale lands at a moment when Charlotte's office market is showing signs of life after a long stretch of pandemic-era softness. Leasing activity reached roughly 1.4 million square feet in the first quarter of 2026, with Class A buildings capturing nearly 70 percent of that volume and absorption nearing 400,000 square feet, according to REBusinessOnline.
By the second quarter, vacancy had fallen to 16.0 percent, the lowest level recorded since late 2023, according to a Colliers report that also tracked 660,589 square feet of positive net absorption and average market-wide asking rents of $34.24 per square foot. Tight supply is part of the story, too: Charlotte saw no new office deliveries in 2026 and had only one project under construction, most of it already preleased, REBusinessOnline reported.
How the Deal Stacks Up
The $11 million price tag is modest next to Charlotte's biggest office trades. The market's largest 2025 transaction was the $230 million sale of Legacy Union 6HUNDRED in November of that year, followed by Ally Center at $75.75 million and the Ballantyne Corporate Park SPX Building at $71.5 million, according to CommercialCafe. Overall, Charlotte's office market logged 20 deals totaling $795.6 million in 2025, the same source reported, while average sale prices per square foot fell 13.67 percent year over year.
CommercialCafe also pegged Charlotte's 2026 office construction pipeline at just 71,835 square feet as of January, underscoring how little new supply is coming online even as leasing demand picks up. For a building like Forest Park IV, with dock-high doors, a drive-in door, 16-foot clear heights and parking for 360 vehicles as part of the Forest Park Business Park, that scarcity of competing product may have helped make the sale an easier pitch to buyers hunting for functional, fully leased flex space outside the urban core.
