CHARLOTTE, NC – January 26, 2021 – Stream Realty Partners (Stream), a national real estate services, development, and investment company, and Harbert Management Group (HMC), an investment management firm, announced today that over 100,000 square feet of office space has been leased at The Grove in Charlotte over the course of 2020, with Humana signing the most recent lease for 11,500 square feet. Centrally located within the University submarket, the office park consists of four buildings totaling 259,064 square feet.
Notable lease transactions completed in 2020 include Cognizant’s 30,572 square foot lease renewal, GSA’s new lease for 25,108 square feet, Humana’s new lease for 11,533 square feet, Sedgwick’s 9,336 square foot lease renewal and Mosaic’s 4,633 square foot new lease. One of the determining factors in attracting and retaining tenants to the park was the major park-wide capital improvement program that brought new life into The Grove. The most recent renovation took place at Grove 5, which included a full lobby and common area refresh, as well as the addition of a tenant lounge within the building.
“We’re pleased that new tenants recognize The Grove’s attractive work environment following our improvements, and look forward to welcoming more tenants to the property in 2021,” said Brandon Cohen, Director at Harbert Management Corp.
Nestled in the heart of University Research Park at the intersection of two major thoroughfares (W.T. Harris Boulevard and Mallard Creek Road), the park’s recent capital upgrades within a beautiful campus setting, combined with an unparalleled location in the center of Charlotte’s major interstates with immediate access to a highly-educated, ever-growing talent pool, has made The Grove an attractive choice for office tenants of all sizes. Throughout 2020 alone, total occupancy in the park increased from 67 to 86 percent, with over 107,000 square feet of new deals, renewals and expansions.
“We’re thrilled to welcome the newest companies to The Grove and continue the great relationship with our existing tenants in the park,” said Bob Boykin, Vice President in Stream’s Carolinas’ office. “The time, money and effort spent by ownership to improve the image and experience within the park has greatly helped in attracting and retaining these fantastic companies.”