Riverside Investment & Development, Singerman Real Estate Acquire 301 South Tryon Office Tower in Charlotte for $36.5M
Chicago-based firms Riverside Investment and Development and Singerman Real Estate have closed on the acquisition of 301 South Tryon Street — formerly known as Two Wells Fargo Center — in Charlotte's Uptown district, according to a news release from the firms. The joint venture paid $36.5 million for the property, per Mecklenburg County property records, representing a steep discount to the asset's approximately $204 million county tax-assessed value.
The transaction closed April 23, 2026. CBRE's Patrick Gildea and Matt Smith represented the seller, Wells Fargo & Co., in the deal. CBRE had begun marketing the site for sale in June 2023.
Property Overview: A Large-Scale Office Asset in Uptown Charlotte
The 301 South Tryon property sits on 3.4 acres bounded by South Tryon Street, South College Street, East Third Street, and East Martin Luther King Boulevard. The complex comprises more than 800,000 square feet of office space spread across two adjoined buildings — a 30-story tower and an 11-story tower. The property also includes more than 30,000 square feet of retail space, a plaza fronting the larger tower, a building atrium, and a 540-space parking structure.
Based on the $36.5 million purchase price and approximately 800,000 square feet of office space, the acquisition equates to roughly $45.63 per square foot.
Redevelopment Plans: Mixed-Use Conversion Targeting Class A Gap
Through the joint venture, Riverside Investment & Development and Singerman Real Estate plan to redevelop the site with a mix of uses that could include commercial, retail, residential, and hospitality components. The plan also calls for a full reimagining of the public spaces to activate the surrounding block.
The firms said they will begin working on entitlements and construction financing next year, with redevelopment efforts expected to start in 2027, according to a Riverside representative. No specific financing terms were disclosed in connection with the acquisition.
Tony Scacco, president of Riverside Investment & Development, said in a statement that the firm had been pursuing the site for several years. Scacco framed the acquisition as an opportunity to address what he described as a growing gap in Class A office supply in Charlotte.
"Our goal is to deliver trophy-quality residential, hospitality, retail and commercial space to the redeveloped property at a price point that allows us to be competitively positioned within the broader market," Scacco said. "All of these asset (types) are undersupplied in the Class A category, particularly in the most high-demand locations."
Riverside's Growing Footprint in Charlotte's Uptown Market
The 301 South Tryon acquisition marks Riverside Investment & Development's second major move in Charlotte's Uptown submarket. The Chicago-based developer entered the Charlotte market in late 2021 with a $35 million acquisition of a 2.75-acre site at West Morehead and South Tryon streets, formerly home to Midnight Diner and Uptown Cabaret.
That site became the foundation for Queensbridge Collective, a phased mixed-use development. The first phase — Vivian, a 42-story luxury multifamily tower — delivered earlier in 2026. Phase two broke ground in late 2025, following an anchor office lease signed by Moore & Van Allen, Charlotte's largest law firm, for 206,000 square feet. The second building is planned as a 43-story tower comprising 400,000 square feet of office space across its top 19 floors and 304 multifamily units in the lower half, with delivery expected in 2028.