The structure is 92% leased with Carolinas Physicians Network Inc., successor to the Mecklenburg Medical Group, occupying 30% of the building. The 10 tenants individually occupy from 714 sf to 10,101 sf. Average asking rent in the 636,207-sf Park Road submarket is $14 per sf to $16.40 per sf, according to third-quarter data from the Charlotte office of CB Richard Ellis Inc.

Windrose has invested $63.1 million in acquisitions since it was formed in August and is scouting for more comparable purchases, Fred L. Farrar, the firm's president and chief operating officer, says in a prepared statement.

"Both our acquisition pipeline and development pipeline are robust for adding properties beyond those outlined in the IPO (in August)," Farrar says. He plans to close on more deals before year end and announced the REIT's first dividend to shareholders.