Marsh Properties JV Plans Charlotte Office Project
- Mar 26, 2021
Marsh Properties continues to make progress on its Sedgefield mixed-use redevelopment in Charlotte, N.C.’s blossoming South End neighborhood with the announcement of plans for a new office project. Marsh is partnering with Aston Properties to develop the approximately 138,800-square-foot office and retail building known as 2825 South.
Sited along South Blvd. between Elmhurst Road and Marsh Road, 2825 South will constitute the “work” component of the live-work-play Sedgefield mixed-use endeavor. The six-story building will feature roughly 118,400 square feet of office space spanning four floors atop a structured parking deck and approximately 20,400 square feet of ground-level retail accommodations.
LS3P is the architect behind 2825 South, which is designed to provide users a safer and healthier workplace in the post-pandemic era. In Charlotte, according to a fourth quarter 2020 report by JLL, “the question of office re-entry looks less like an ‘if’ and more like a ‘when.’” The building will offer such features as touchless automatic building entry doors; touchless elevator controls and destination dispatch; washable material finishes; and advanced air filtration systems.
In an added demonstration of support for 2825 South, Aston has committed to occupying 8,000 square feet of office space at the property and Samet Corp., which is serving as the general contractor for the project, has staked a claim to 12,000 square feet. Trinity Partners is handling leasing for the office segment at 2825 South, while Aston is overseeing leasing for the building’s retail component.
Primed for a rebound
Metropolitan Charlotte’s office market did not go unscathed amid the ravages of the COVID-19 pandemic. However, the city is well-equipped to regain its footing and welcome new office developments like 2825 South and others. “In the post vaccine world, the Charlotte office market will be one of the first office markets to stage a recovery,” according to the JLL report. “The market has a solid foundation buoyed by growing office sector employment and surging population growth. The same conditions that made Charlotte one of the top destinations for corporate relocations and expansions remain. As user requirements grow, the market will be ready for new entrants.” Marsh and Aston expect to break ground on 2825 South in September 2021.