Endeavor Real Estate Group Acquires Carnegie Point, Charlotte Class A Office Property, From Redline Property Partners

Endeavor Real Estate Group has acquired Carnegie Point, a 108,931-square-foot Class A office property at 6101 Carnegie Blvd. in Charlotte, North Carolina, from Redline Property Partners, CBRE announced on Oct. 26, 2026.

CBRE's Patrick Gildea and Matt Smith represented the seller, Redline Property Partners, in the transaction.

Carnegie Point Property Details

Carnegie Point is a five-story Class A office building in Charlotte's SouthPark submarket, at the intersection of Barclay Downs Drive and Carnegie Boulevard. The property includes a recently renovated lobby and common areas, as well as an outdoor amenity deck with Wi-Fi and a mix of hard and soft seating.

The building sits directly across from SouthPark Mall and within walking distance of Piedmont Town Center and a number of dining, retail and hospitality amenities. It also offers access to Uptown Charlotte, Charlotte Douglas International Airport and many of the city's established residential neighborhoods.

Capital Improvements Under Redline Property Partners

Redline Property Partners invested in significant capital improvements during its ownership. Those included elevator modernization, roof replacement, parking enhancements and upgraded common areas throughout the building, along with the creation of new amenity spaces.

CBRE Comment on SouthPark Office Fundamentals

"The office fundamentals are becoming increasingly clear with the benefit of time," said Patrick Gildea, Vice Chairman at CBRE. "It is highly evident that well-located, functional assets in live-work-play submarkets that are proximate to decision-maker housing will continue to thrive. This theme is evidenced by a Class A vacancy rate in the SouthPark submarket of only 5.2%."

Charlotte Office Market Context

The SouthPark Class A vacancy rate cited by CBRE is well below broader Charlotte office vacancy measures from other brokerage firms. Colliers reported Charlotte-wide vacancy of 16.0% in the second quarter of 2026, while JLL reported Class A vacancy of 17.2% and overall vacancy of 18.5% in the third quarter. The figures differ because of variations in survey boundaries, timing and methodology.

Leasing activity in the market has favored higher-quality space. The market recorded 660,589 square feet of positive net absorption in the second quarter. In the third quarter, absorption totaled 454,723 square feet, and available space has fallen by 1.9 million square feet year to date.

Rents have followed a similar pattern. Average Charlotte office asking rents are $34.24 per square foot, with top-tier Class A properties in South End and SouthPark achieving rents above $45 per square foot. Third-quarter average asking rent was $35.45 per square foot, with Class A asking rent at $39.55 per square foot.

National Office and CBRE Investment Sales Trends

Nationally, U.S. office leasing reached 63.8 million square feet in the third quarter of 2026, up 4% year over year. Total office vacancy fell to 18.2%, the fifth consecutive quarterly decline, and average asking rents rose 3.1% year over year to $37.95 per square foot.

CBRE's global property-sales revenue increased 28% in the third quarter, with U.S. revenue up 37%, driven primarily by industrial and retail transactions. Its U.S. office leasing revenue declined 2% in the quarter.

The Carnegie Point sale comes as well-located Class A properties continue to draw tenant and investor interest, while older or less competitive office assets face elevated vacancy.

Sources

• CBRE Facilitates Sale of Carnegie Point in Charlotte