CBRE to Lease, Manage Charlotte Office Asset

The firm will handle both operations at the recently sold Four Resource Square, an office building featuring more than 150,000 square feet of premier space.

Four Resource Square in Charlotte, N.C.
Four Resource Square in Charlotte, N.C.

Rockford Capital Partners has selected CBRE to handle leasing and management at Four Resource Square, a 153,310-square-foot Class A office building in Charlotte, N.C. Rockford, in a joint venture with Blue Vista Capital Management, acquired the property at the end of 2017 for $17.5 million from RAIT Financial Trust, according to Yardi Matrix. JLL previously leased and managed the asset.

Located at 10735 David Taylor Drive, the five-story structure sits in Charlotte’s University submarket, surrounded by several other office buildings. Constructed in 2000, the property is leased to a mix of tenants including Fuzzy Logix, Allied Universal and Benchmark Planning, and has a vacancy rate of 34.8 percent, per Yardi Matrix January 2018 data. CBRE’s Joe Franco and Katherine Richey are marketing the property to future tenants. The mid-rise asset’s amenities include a fitness center, a conference room and an outdoor dining area. Parking is available at a ratio of 4.5 spaces per 1,000 square feet.

“This is Rockford’s first investment in the Charlotte market and we’re excited to work with them here. With an office vacancy rate of less than 10 percent in the University submarket, Four Resource Square offers a great opportunity for tenants in the market,” said Franco, senior vice president with CBRE, in a prepared statement. “Rockford plans to enhance the overall tenant experience and make meaningful improvements in the most impactful areas throughout the building.”

Image courtesy of Yardi Matrix