Trinity Capital to Develop 1000 South Tryon; 300,000 SF Class A Office Building at Morehead and South Tryon St
October 2, 2014
Trinity Capital Advisors is pleased to announce 1000 South Tryon Street, a new 300,000 SF, Class A office building development in Charlotte’s South End on the gateway corner of Tryon and Morehead Streets. Designed by Smallwood Reynolds Architects of Atlanta, GA, the 14-story building will have unimpeded views of Charlotte’s CBD skyline.
1000 South Tryon features 22,500 SF floorplates and its parking deck will have a ratio of 3.0 spaces per 1,000 SF of office space. The office building will have retail on the first floor, and a multi-family façade is planned for the side of the parking deck fronting Morehead Street. The development will be a joint venture between Trinity Capital and Honey Properties, Inc, the site’s longtime owner.
“We’ve been interested in this site for years,” said Gary Chesson, Founding Partner of Trinity Capital. “With the changing dynamics in South End and the momentum in our CBD submarket, we’re confident that this will be a very successful office development.”
Yates Honey, President of Honey Enterprises, noted “We are delighted to be involved in such a highly visible and important project with Trinity Capital. We know and respect their ability to deliver a superior product to the Charlotte community. I have long believed that the site will define the entry to Uptown from South End and vice versa. It took many years for us to assemble the property, and it also took the foresight of Trinity to realize the value of such a strategic location.”
Added Chesson, “Once we have a committed anchor tenant, we’ll break ground on 1000 South Tryon with a 15 month construction schedule.”
Trinity Partners’ Rhea Greene is marketing 1000 South Tryon on behalf of Trinity Capital. “The existing product in SouthEnd/Midtown cannot keep up with the current tenant demand,” said Greene. “With a Class A vacancy rate of 5%, the timing could not be better for a new building. The broker feedback is consistent about the need for product and 1000 South Tryon has been carefully designed to meet those needs.
Sherrie Chaffin, Trinity Capital’s Director of Development, says 1000 South Tryon’s location will offer tremendous skyline views of the CBD. “We really like that the South End location feels like an extension of the CBD with immediate access to I-277 and enhanced parking ratios.”
“This partnership brings South End and South Tryon an exciting new project that will help address pent up demand for new office supply,” said Michael Smith, CEO of Charlotte Center City Partners. “1000 South Tryon will offer a distinct alternative to support our efforts in recruiting jobs and attracting tomorrow’s workforce.”
