Greystar to Relocate Operations to South End, Signaling Growth for Charlotte’s Real Estate Market

Good News for Charlotte: Greystar is Moving to South End!

Hey Charlotte! We’ve got some exciting news brewing in our city. Greystar, a key player in multifamily development, is shifting its local operations to the vibrant South End area next year. That’s right—this well-known Charleston-based company has just signed a lease for a spacious 7,500 square feet on the 11th floor at The Line, located at 2151 Hawkins Street. How cool is that?

When’s the Big Move?

According to Claiborne Mulhern, a senior associate at Foundry Commercial, Greystar is set to move into their new digs by spring 2024. Until then, they’re wrapping up operations at their current office located at Morehead Place in Dilworth. Why did Greystar choose The Line, you ask? Well, their leadership explained that the building offers a modern and well-connected environment that perfectly matches their evolving workplace needs. Sounds like a smart move to us!

What’s Happening at The Line?

Now, let’s talk a little more about The Line. This impressive 293,000-square-foot office building has been making waves in the local real estate scene. Developed by Portman Holdings and National Real Estate Advisors, it was bought for a whopping $206 million by a New York City-based investment management firm last May. Talk about a big investment in Charlotte!

The Line is already buzzing with activity. As of now, it’s running at 84% leased capacity, but that’s not all! Mulhern mentioned they’re in talks to seal the deal with a full-floor tenant for the 13th floor, which would shoot the occupancy rate up to an impressive 95% leased. With Greystar’s arrival, it’s turning into a real hub for creative and influential businesses.

Who Else is Joining the Fun?

Greystar isn’t the only developer making waves at The Line this year. Local commercial real estate firm Asana Partners also signed a lease earlier this year for a sizable 23,000 square feet in the same building. Mulhern expressed his excitement, stating, “It’s super validating to have established developers join the tenant lineup at the building. They could go anywhere, to any project… Real estate developers recognizing a piece of well-done real estate is a huge compliment.”

A Developer with a Presence

If you’re curious about what Greystar has been up to in the Charlotte region, you’re not alone! They own and operate numerous apartment communities around town, including popular spots like Kingston South End, Midtown 205, Broadstone Optimist Park, and more. Clearly, they’re no strangers to the area!

What’s on the Ground Floor?

And it’s not just office space that’s attracting tenants. The Ground floor of The Line features exciting retail options, including favorites like Sycamore Brewing, Savi Provisions, Grit Box Fitness, and Chapter 6 by Jon Dressler. It seems like The Line is carving out a space that delivers everything from classy offices to local delights!

All in all, Greystar’s move to South End is shaping up to be a win for everyone involved. The city continues to attract top developers and innovative companies, and it’s clear that Charlotte’s future is looking bright. So, keep your eyes on South End because there’s definitely more exciting news on the horizon!