Cushman & Wakefield | Talhimer Lands 325KSF Leasing Assignment

Maersk Inc. has awarded the leasing assignment of its 325,000-square-foot regional office to Cushman & Wakefield Talhimer, announced the Mid-Atlantic’s leading commercial real estate firm.

Maersk Inc. has awarded the leasing assignment of its 325,000-square-foot regional office to Cushman & Wakefield Talhimer, announced the Mid-Atlantic’s leading commercial real estate firm. Mark Holoman and Meredith Dickerson have been appointed exclusive leasing representatives of the office park.

Located at 9300 Arrowpoint Blvd. in the Arrowpoint Business Park, the corporate campus sprawls on 40 acres and features amenities such as an auditorium, executive suite, full-service cafeteria, fully-equipped fitness center as well as tennis, basketball and volleyball courts, and a softball field. According to PropertyShark.com, the 1985-built asset was purchased by Maersk in April 2006 for $31 million. The real estate website assessed the property’s 2013 market value just short of $31.5 million.

“A.P. Moller-Maersk’s global initiative to optimize its real estate portfolio” is the reason for the company’s move “to optimize its efficiency in its Charlotte office,” a Maersk spokesperson said in a press release, adding that the company will remain in the Charlotte office but will put excess space on the market.

Maersk’s corporate campus represents the largest chunk of available office space in the Charlotte market, which could attract new players to Metrolina, as the city suffers from a lack of available large blocks of office space. According to CBRE’s latest office market report, several entities have been interested in large office space availabilities in Charlotte, defined as more than 150,000 square feet. With move-in dates usually south of 12 months, these enquiries rule out built-to-suit facilities. Although several developers are considering large office projects, mostly in the CBD, to meet these needs, they aren’t expected to break ground prior to reaching a 50 percent pre-lease rate.  The exception is local developer Lincoln Harris, which recently announced plans for a two-tower, 480,000-square-foot speculative office project. Incidentally, the selected site for Capitol Towers at Carnegie is Maersk’s former SouthPark location (details here).

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Image courtesy of Cushman & Wakefield |Talhimer

Chart courtesy of CBRE