Northridge Breaks Ground on NC Creative Office Project
- Nov 13, 2017
Northridge Capital, in partnership with Insite Properties, has broken ground on The Refinery, a 107,000-square-foot Class A creative office and retail project in Charlotte, N.C.
Northridge and its investors already own the Grinnell Water Works Building two blocks west of The Refinery site, the company purchased last year from Insite, who continues to lease and manage the property. Northridge sourced investor equity through its relationship with Cap Corp Investment Co. of Kuwait.
Located at 1213 West Morehead St., the five-story Refinery will include four upper levels of 22,500-square-foot efficient floorplates over first-floor retail. The first floor will have 16-foot ceiling heights complimenting office floor heights of 10 to 14 feet with floor-to-ceiling glass. The development will also feature a rooftop meeting/gathering space for tenants, visitors and guests, with vast views of the Queen City, including Bank of America Stadium.
The Refinery is located at the Morehead Street exit off Interstate 77, in the highly sought-after South End/Midtown submarket, within walking distance to a number of restaurants in the trendy Freemore West neighborhood, such as Pinky’s West Side Grill, Savor Cafe and Rhino Market, as well as popular bars, retail and exercise concepts. The property will also include free parking in a 350-space parking deck built for tenants and visitors, as well as provide electric vehicle charging stations, interior bike storage, private showers and locker rooms on the first floor, and a tenant friendly gathering space in the main lobby.
“We are pleased to start work on The Refinery, bringing much needed creative Class A office and retail space to the rapidly developing West Morehead corridor,” said Jay Blanton, founder & managing principal of Insite Properties, in prepared remarks. “The Refinery will offer an adaptive re-use feel with the features and amenities of brand new construction that will both redefine and blend into the diverse and ever-changing face of West Morehead and further solidify it as a new hot spot in the Queen City.”
JLL’s Barry Fabyan and Charley Leavitt are representing the development team in office leasing execution, with John Hadley of The Nichols Co. handling first-floor retail leasing. BB+M Architecture has been tapped as the architect, LandDesign is the civil engineer and Edifice Construction is the general contractor. The Refinery is slated for completion in the fall of 2018.
During the summer, Northridge also partnered with Sarpa Development for the redevelopment of Sky Hotel into W Aspen, an 88-key hotel in Aspen, Colo.
Rendering courtesy of BB+M Architecture