New Life for North Tryon
Frontier Capital inked a lease for its new HQ at 525 N Tryon St, which was acquired in January by Grubb Properties and New York Life Real Estate Investors. The deal is an indication of a revival for North Tryon, Grubb Properties SVP Jonathan Nance tells us, and marks a return for Frontier to the building. Early in its history, it leased space temporarily there; now it's going to build out new offices on the 19th floor.
The 12,600 SF lease for the entire top floor is the first one for the 450k SF building this year, and coincides with new activity in the North Tryon corridor. Currently, Grubb Properties, along with Novare Group and Batson-Cook Development Co, are building the SkyHouse Uptown apartment tower next door. Also, according to Charlotte Center City Partners, the corridor will be ripe for new office development in the next cycle; the organization will soon release its study on the corridor's revival.