SOURCE: CNL Commercial Real Estate

CNL Commercial Real Estate

August 06, 2015 09:00 ET

CNL Commercial Real Estate Grows Office Leasing Services in Charlotte

Commercial Real Estate Company Wins 290,000 Square Feet of Leasing in High-Demand Charlotte Submarkets

CHARLOTTE, NC--(Marketwired - Aug 6, 2015) - CNL Commercial Real Estate announces three new office leasing assignments in the greater Charlotte area. The properties, Morehead Place, the Avery Building at Morrocroft and Hedgemore Plaza, mark the first time the commercial real estate company has acted as the leasing manager of office facilities in the region. The properties will serve the Midtown, SouthPark and Park Road submarkets, respectively.

Morehead Place is one of only three true Class A assets in the Midtown submarket and is owned by Sun Life Assurance Company of Canada. Located across the street from the soon-to-be renovated Dowd YMCA and within minutes from Charlotte's thriving Central Business District, the asset is a highly sought after office option in the marketplace. The Midtown area itself benefits from immediate access to amenities, Charlotte's CBD, and Charlotte's highly efficient highway and interstate system. 

Located in the highly sought-after South Park market, The Avery Building at Morrocroft is situated near the most desirable retail marketplaces in Charlotte. The building stands at 41,349 rentable square feet and has 18,000 rentable square feet available to lease. Levine Properties recently purchased the building. Levine Properties has a long history of real estate investment and transforming owned real estate into iconic and popular destinations for its clients. The Avery Building is currently undergoing an extensive renovation that will result in a complete rehabilitation of the facility, thus returning the asset to its original quality.

Hedgemore Plaza is also in the process of undergoing a complete renovation by Levine Properties, and is one of only a handful of institutional quality assets in the Park Road submarket. Levine Properties has engaged world-renowned architecture firm, Gensler, to develop the vision for repositioning the asset. The Park Road submarket is experiencing the beginning of a resurgence as a destination for office users and Millennials in the office, hospitality and residential communities. Hedgemore Plaza is at the forefront of that revival. 

"We are excited to be working with organizations like Sun Life and Levine Properties as we grow our landlord leasing business here in Charlotte," said Charles Jonas, principal and market leader at CNL Commercial Real Estate, Charlotte. "We're thrilled to be working with them in submarkets that are growing, thriving areas of Charlotte, and that we can continue to drive value for them and for tenants within those assets in such an impactful way."

"Selecting CNL Commercial Real Estate was a good operational decision," said Bill Barres, managing director of Sun Life. "The company has a high-quality, institutional-level property management, accounting and leasing team in place, a strong focus on our tenants' needs and an overall long-term commitment to the city of Charlotte. We are excited to work with a company of this caliber."

CNL Commercial Real Estate entered the Charlotte market in 2011. In addition to these facilities, CNL Commercial Real Estate, Charlotte manages and leases several retail and land properties throughout the southeast region.

About CNL Commercial Real Estate

CNL Commercial Real Estate offers a full range of commercial real estate services, including leasing and management, tenant representation, project management, facilities management and brokerage services, as well as a development and investment platform. It operates in all sectors of commercial real estate, including office, retail, industrial and multifamily. For more information, visit http://cnlcre.com/.

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