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DEVELOPMENT Development BB&T office tower in uptown Charlotte sold for $115 million to a New York firm BY DANIELLE CHEMTOB JANUARY 20, 2021 02:15 PM, UPDATED 41 MINUTES AGO The BB&T Center in uptown Charlotte sold for $115 million to a New York company, Mecklenburg County property records show. The sale included the 22-story office tower and the parking garage next door, according to a Tuesday release from JLL Capital Markets, which brokered the sale. The center, which was built in 1977, was sold to an entity called BB&T Properties LLC, based in New York. JLL’s release declined to name the buyer. Read more here: https://www.charlotteobserver.com/news/business/biz-columns-blogs/development/article248637945.html?ac_cid=DM368298&ac_bid=-799966545#storylink=cpy ~~~~~~~~~~~~~~~~~~~~ If this ain't a canary in a coal mine, I don't know what is. This building sold for $117 million in 2007, $149 million in 2017, and now $115 million. Nobody seems to be willing to accept the fact that "Uptown" Charlotte is overbuilt, especially in the office and hotel sectors. The Class B buildings (including the subject property, and several other towers built in the '60s/'70s) are going to take it on the chin as their tenants are given deep rental discounts and lease concessions by the landlords of the new buildings.