CHARLOTTE, North Carolina (Sept. 6, 2023) – KBS, one of the largest owners and operators of premier commercial real estate buildings in the nation, announces that it has signed 49,135 square feet of lease agreements with three global and national tenants at Carillon, a 24-story, 488,277 square-foot trophy office building located in uptown Charlotte, North Carolina.
KBS has signed a 37,909 lease renewal with General Services Administration (GSA), on behalf of the US Attorney’s Office; an expansion with Lazard, a global financial services firm; and a 1,836 square-foot lease with Moffatt & Nichol, Inc., a global infrastructure advisory firm, which renewed at the property.
The transactions highlight the ongoing appeal of Class A space for office users in select CBDs across the country, with Charlotte being a key market to watch, according to Marc DeLuca, CEO and eastern regional president of KBS.
“Best-in-class office properties in key cities nationwide are growing with companies seeking a competitive edge in their respective fields,” says DeLuca. “Charlotte, with its vibrant sports and commercial hubs and culturally artistic vibe, is one of those cities, and exceptional assets like Carillon are currently spearheading the office renaissance in these places.”
According to Cushman & Wakefield, the Charlotte region has remained relatively unaffected by recent nationwide layoffs in tech and banking woes due to the presence of stable banking institutions buoying against uncertainty in the markets. Office rental rates have seen tremendous growth over the past eight years, and new leasing activity rebounded modestly in Q1 after a Q4 2022 slowdown, with more than 418,000 square feet of deals signed.
“KBS is adept at identifying top-tier office assets in strong locations that attract the most successful companies in the area,” says Allen Aldridge, asset manager for Carillon and senior vice president, acquisitions/co-director of asset management for KBS. “Carillon is a highly desirable property in uptown Charlotte that not only draws in discerning tenants but also drives them to renew their leases and expand their footprints at this iconic building.”
The lease renewal with GSA, on behalf of the US Attorney’s Office is especially significant at a time when select industries have been reducing their footprints of leased office space in markets across nationwide, Aldridge notes.
“Signing a lease renewal of over 30,000 square feet reflects the strength of this property and confirms KBS as a quality landlord,” continues Aldridge.
Carillon is a LEED Gold-certified, ENERGY STAR-rated and UL-Verified Healthy Building featuring museum-quality interiors and artwork. Located within a block of Trade and Tryon Streets, uptown Charlotte’s “Main & Main,” the property is conveniently situated near public transportation, shopping, dining, and entertainment options. With its dramatic, neo-Gothic architecture, the office tower features a newly refurbished two-story lobby with Italian Verona marble floors, a 40-foot kinetic sculpture by world-renowned artist Jean Tinguely and a grand side entry leading to the newly completed tenant amenity courtyard shared with the luxury Grand Bohemian Hotel next door. Common amenities include a state-of-the-art conference center, an on-site Bright Horizons childcare center, a fitness center with showers, a car wash, and Morton’s Steakhouse.
Jennifer Kurz, Rhea Greene, and Tim Arnold of Trinity Partners represented KBS in the recent leasing transactions.
“Carillon continues to be on the short list of preferred high-rise office buildings in Uptown,” says Kurz. “Companies are drawn to its unmatched location and amenities. We expect to continue to see significant activity with the recent delivery of the market’s most elevated and sophisticated spec suites.” KBS has completed six spec suites ranging from 2,100 to 8,200 square feet ready for immediate move in. “Carillon’s spec suite program is a perfect fit for tenants with a shorter move schedule, and KBS continues to set the bar for high-end finishes and sophisticated design,” Kurz continued.
Carillon is located at 227 W. Trade Street, Charlotte, North Carolina. Please find photos of the property here.