Uptown Charlotte Office Tower Set for Major Overhaul!
Charlotte is buzzing with excitement as 550 South, a prominent office tower situated in the heart of the city, gears up for a remarkable transformation! That’s right! This 15-year-old building is about to get a significant facelift, courtesy of Cousins Properties, a well-known name in the commercial real estate world.
What’s in Store for the Building?
So, what can we expect from this renovation? For starters, the lobby, which has welcomed countless tenants and visitors throughout the years, is getting a complete makeover. Grant Harrell, who is the vice president and director of Cousins’ Charlotte team, revealed that the first floor will feature a variety of comfy seating areas designed to make everyone feel at home. Think cozy corners for meetings, casual chat spots, and just a warm atmosphere to kick back and relax!
The second floor is set to be transformed into a vibrant tenant amenity floor. Imagine a state-of-the-art fitness center to break a sweat, versatile conference spaces for all your business meetings, and inviting common areas where folks can mingle. Oh, and let’s not forget the golf simulator! Perfect for those who want to practice their swing during lunch breaks or just unwind after a long day at the office.
New Retail Space Coming Up!
As part of the renovations, the popular Crane Coffee shop will be relocating and expanding its space on the first floor! An exciting addition, a staircase leading directly to the second-floor amenities, will make it super easy to access the new areas. Harrell adds, “The goal is to reinvigorate and reenergize the ground floor for our customers and their visitors.”
Timing is Everything
Construction is slated to begin in the first quarter of 2025 with a completion date set for the second quarter of 2026. While specifics about the total cost of these vast renovations remain under wraps, Harrell assures that it will be a “significant investment.” With TVS Architecture drafting the designs and DPR Construction on board as the general contractor, this project is in expert hands!
A Building with a Rich History
A little history: Cousins Properties took over 550 South, previously known as NASCAR Plaza, back in 2016 during a merger with Parkway Properties. Today, the tower boasts around 395,000 square feet of lease space and is about 75% leased. Some notable tenants include Truist Insurance Holdings, Deriva Energy, and Duke Energy Renewables. While NASCAR was once the tower’s biggest tenant, they recently vacated four floors for a new facility, leaving a unique opportunity for growth and customization in the area!
A Bright Future Ahead
Harrell believes these renovations will make 550 South an even more appealing location for companies searching for quality office space. “With a slowdown in new office developments, it’s the perfect time to launch this project,” he explains. “Investing in existing properties helps them stand out as top contenders in a competitive market.” It sounds like 550 South is on its way to becoming a hotspot for businesses looking for a friendly and welcoming environment.
As Charlotte continues to grow and evolve, this facelift for 550 South is sure to add a spark to its vibrant office landscape. Keep an eye on this space because big changes are on the horizon!
