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Office Condo Developer Pays Lofty $19.90 per SF for Three-Acre Pad

CHARLOTTE-Sonshine Construction Co. bought the dirt and an existing 36,000-sf building on Crown Point Road for $2.6 million or $866,666 per acre from Marketing Specialists of Dallas. Sonshine plans to build four additional structures totaling 24,000 sf.

By Robert Anthony | Updated on January 15, 2001

CHARLOTTE-The price tag was on the high side but office condo developer Sonshine Construction Co. is confident it will recoup its $2.6 million Crown Point Road land investment by selling newly-planned space for $125 per sf or a gross $3 million. Sonshine plans to break ground this summer on four structures totaling 24,000 sf or an average 6,000 sf per building.

The developer bought the dirt and an existing 36,000-sf building from Dallas-based Marketing Specialists Inc. Perfect Fit Industries Inc., recently relocated from New York, occupies the structure. Architectural firm William Bruce & Associates and SBS Technologies, a computer consulting company, will occupy the remaining 8,000 sf. The two firms are partners in the three-acre venture with Sonshine president Steve Farnie.

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