CHARLOTTE, NC—Holliday Fenoglio Fowler has closed the sale of Water Ridge Office Park, an 11-building, 844,958-square-foot, class A office park in suburban Charlotte.

HFF represented the seller, a partnership managed by Mainstreet Capital, in the transaction. New York Life Real Estate Investors coordinated the acquisition on behalf of New York Life Insurance Company who purchased the portfolio.

Water Ridge Office Park is located at the intersection of West Tyvola Road and North Falls Drive just two and a half miles from the Charlotte Douglass International Airport. Situated in the Interstate 77/Southwest submarket, the property is proximate to Uptown and SouthPark, and is directly across from the 170-acre City Park master planned community being developed by Pope & Land on the old Charlotte Coliseum site. Water Ridge Office Park is 82% leased to tenants including The Vanguard Group, SunTrust Bank, Carolinas HealthCare System, Publix, Midrex and The Art Institute of Charlotte. Built between 1989 and 2001, the park has undergone an extensive renovation in the past year with updates to many of the lobbies, restrooms and elevators throughout the park. Additional amenities have also been added, including outdoor picnic areas and walking trails, a fitness center with locker rooms and canteen, and interactive touchscreen directories at some of the buildings.