525 North Tryon Hits Record Year with Frontier Capital Expansion
Posted on May 31, 2018
CHARLOTTE, N.C. (May 31, 2018) – Foundry Commercial and New York Life are pleased to announce that 525 North Tryon has achieved a record-setting year of leasing, culminating with Frontier Capital’s 13,648-square-foot expansion on the building’s18th Floor.
In addition to Frontier’s expansion, new leases and renewals for more than 325,634-square-feet were leased in 525 North Tryon over the past year. The property, which is located in uptown Charlotte’s growing North Tryon Corridor, is now more than 85 percent leased.
This substantial leasing activity demonstrates how 525 North Tryon has become a standout offering in uptown Charlotte. With its unique amenities, investments in energy efficiency, and convenient location, 525 North Tryon provides a distinctive and desirable workplace.
“As more developers continue to adhere to the North Tryon Plan and the area undergoes unprecedented growth, our ultimate goal is to continue to evolve with these enhancements and serve as the center of the office market here,” said New York Life’s Michael Lucek. “Tenants are eager to provide more for their employees as they seek to attract and retain talent in this thriving market. The fitness center, tenant lounge, conference center, bike room, and electric shuttle at 525 North Tryon provide something unique for tenants to offer their associates.”
525 North Tryon has obtained LEED Certification and earned the Environmental Protection Agency’s ENERGY STAR designation. It also offers valuable amenities including a fitness center, a bike storage and repair room, an electric car charging station, and the electric “525 Shuttle,” which provides free transportation for tenants. The property will continue to benefit from implementation of the North Tryon Vision Plan and the recent opening of the Blue Line Light Rail extension.
Since December 2016, Foundry Commercial has announced lease renewals at 525 North Tryon for CohnReznick, Bank of America, and Regus, along with the expansion of Frontier and new leases for Empowered Benefits, Hamilton Stephens Steele+Martin, and James, McElroy & Diehl.
About Foundry Commercial
Foundry Commercial is a full-service real estate services and investment company with more than 300 employees and more than 50 million square feet of management and leasing across the Southeast and Texas. Foundry provides corporate services, brokerage, leasing, building management and project management services, and is the largest real estate service provider to religious and not-for-profit organizations in the Country. Foundry also includes a development and investment platform that is fully integrated into its services business, leveraging its local market expertise to complete more than $400 million in acquisitions and $600 million in development opportunities since 2014. Foundry Commercial was founded as CNL Commercial Real Estate in 2007 and launched as Foundry in 2015 through a management-led buyout. For more information, visit www.foundrycommercial.com.
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