43K SF in Leases Bring Stiles' New Boutique Office Project in Charlotte, N.C. Close to Full Occupancy
Posted on 8/7/2019Charlotte, N.C. — August 7, 2019 — In another clear sign of the strong Charlotte office market, a total of 43,257 square feet of lease deals have brought the new 300 W. Summit boutique office building to more than 80 percent occupancy. The project was completed by Southeast-based commercial development firm Stiles on April 30, 2019.
300 W. Summit, a three-story, 64,000-square-foot office building located in historic South End on West Summit Avenue, features a 2,000-square-foot rooftop terrace with unobstructed views of uptown Charlotte and two levels of underground parking. The property is within walking distance of the Bland Street light-rail station and is surrounded by a wide variety of neighborhood restaurants and retail.
Seven leases were signed with OneMagnify, Environment Resources Management, BR+A Consulting Engineers, Colliers, The Providence Group, Upstream and Stiles, which will move from its previous nearby location. Colliers, a leading global real estate services and investment management company, was one of the largest for more than 10,000 square feet for a 10-year term. All leases were signed within the first half of 2019. The property is being marketed by JLL's office brokerage team of Stephen Woodard and Charles Leavitt who represented Stiles in securing the leases.
"Companies are flocking to do business here and developers, such as Stiles, are meeting the demands of today's sophisticated users who seek to differentiate themselves as they recruit top talent," commented Leavitt. "With only two spaces available, we anticipate full lease-up before year-end."
Greg Copps, Colliers' local managing partner, added: "This expansion and redesign of our space at 300 W. Summit is critical to both accommodate our growth across multiple service lines while also, perhaps more importantly, providing an optimal office environment for our Colliers team to foster and further cultivate our enterprising culture through the thoughtful implementation of cutting edge workplace concepts."
300 W. Summit is ideally situated in South End's growing Gold District, where several new restaurants, bars and shops are opening around the office building, including Max & Lola Bodega, Bardo, Yume Bistro and Pasta & Provisions.
"The appeal of being situated in South End coupled with the accessibility from 277 were deciding factors for those businesses who decided to sign up at 300 W. Summit," said Justin Siemens, President of Stiles Carolinas. "This combination is what has differentiated 300 W. Summit from some of the other options in the marketplace."
Since entering the Charlotte market in 2012, Stiles has been rapidly expanding its brand throughout the Carolinas and is actively seeking additional opportunities for development. In addition to 300 W. Summit, the company, by way of its Charlotte office, has completed four shopping centers in Charlotte, a 186-unit luxury apartment community in Raleigh, and a Pillar Award-winning luxury residential tower in Nashville, TN.
Stiles is currently underway with Village at Research Park, a mixed-use development in Charlotte with 70,000 square feet of retail and Point Hope Commons, a 90,000-square-foot Publix-anchored neighborhood shopping center in Charleston, S.C.
Established in 1951, Stiles is a full-service real estate development firm with a clear mission: Invest. Build. Manage. Stiles services include development, construction, tenant improvement, realty, property management, architecture, acquisitions and financing. The company is responsible for more than 43 million square feet of office, residential, industrial, retail and mixed-use projects throughout the southeastern United States. Headquartered in Fort Lauderdale, Stiles maintains regional offices in Miami, West Palm Beach, Naples/Fort Myers, and Orlando, Florida, as well as a development office in Charlotte, North Carolina. Learn more about Stiles at www.stiles.com.