Resource Square In Charlotte Sees Resurgence Of Lease Activity With Major Tenant Improvements, Addition Of Speculative Suites

Charlotte, North Carolina
May 22 3 min read

A $1.5 million investment in tenant improvements and a best-in-class speculative suite program have reignited leasing activity at a four-building, Class A office park in Charlotte.

Naples, Florida-based TerraCap Management recently delivered a host of high-demand tenant amenities including a fitness facility, tenant lounge, and conference center at Resource Square I, II, IV, and V at 10925, 10926, 10735, and 10715 David Taylor Drive. The projects, along with the addition of multiple speculative suites with premium finishes–at a cost of over $60 per square foot–helped secure leases with multiple companies totaling 51,836 square feet.

Stream Realty Partners, a national commercial real estate firm offering an integrated platform of services, has a growing office in Charlotte that services the North and South Carolinas. Senior Vice President Bob Boykin and Associate John Smoots represented the landlord in the lease transactions for companies including:

  • KCI Telecommunications, a Harrisburg, North Carolina-based firm that provides engineering support, resource management, network security, and professional services. The company leased a spec suite at Resource Square V with 11,384 square feet. Terri Griffin of Emerald Pointe Realty represented the tenant.
  • ZenSpaceIT, a Mooresville, North Carolina-based strategic marketing company. It will occupy 7,994 square feet at Resource Square V. Conor Brennan of JLL represented the tenant.
  • Garver, a North Little Rock, Arkansas-based engineering, planning, and environmental services firm. The company leased a 2,548-square-foot spec suite at Resource Square IV to expand its presence in the Southeast U.S. Jack Brewer and Catherine Gibbons of Newmark represented the tenant.
  • Andritz Hydro, a global supplier of electromechanical systems and services for hydropower plants. The company will continue to lease 20,028 square feet at Resource Square IV. Ben Speir of Cherry Speir and Jimmy Sanders and Mitchell Kahlert of ICON Commercial Interests represented the tenant.

“We are pleased with the leasing momentum that Stream Realty Partners has generated recently at the property,” said Matt Stewart, Director of Asset Management for TerraCap Management LLC. “The impact of their leasing efforts, together with our recent investments into the properties, has yielded great results and elevated the leasing performance at Resource Square relative to the competition.”

Resource Square offers 505,177 rentable square feet across four buildings in the University submarket. The property features a large training room with two medium-sized conference spaces, a fitness center with Peloton bikes and Echelon mirrors, and a state-of-the-art tenant lounge with plenty of comfortable seating.

The campus sits in the heart of University Research Park and offers easy access to Interstates 85 and 485, as well as the Lynx Blue Line light rail. Tenants include IBM, Black & Veatch, Huber Engineered Woods, Brooks Equipment, and the Internal Revenue Service.

“The tenant and brokerage community has recognized the quality and attention to the tenant experience that TerraCap has provided at Resource Square,” Boykin said. “Demand for move-in ready space has been robust following the pandemic, as evidenced by Garver and KCI leasing two spec suites so soon after delivery. We’re pleased that TerraCap chose to invest in building these high-end spaces and look forward to marketing the remaining ones to potential occupiers.”

Resource Square is currently about 66% leased. Office spaces ranging from 2,109 square feet to 32,432 square feet are available, including several speculative suites. For leasing information, contact Stream Carolinas at 980.819.4270.

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