400 South Tryon Announces Major Lobby Renovation

Molly Carroll

Downtown Charlotte’s 400 South Tryon has kicked off a large-scale lobby renovation, with over $2.2 million in improvements and updates that include a 4,000-square-foot tenant fitness center.

The renovation began this month and will be completed by the end of the year. Designed by Charlotte’s Studio Fusion, the updated lobby will modernize the building’s features and architecture, complementing the existing structure and dramatic barrel-vaulted ceilings. Materials include white polished stone, porcelain, and zebrawood. New gathering spaces will feature rich, colorful furniture groupings and area rugs. Lighting updates include large-scale pendants, backlit wall panels, and updated LED lighting.

The renovation extends from the front lobby through the rear retail corridor to the Church Street building entrance. The rear entrance at Church Street will also undergo modern renovations.

These lobby and interior renovations are the latest in several building upgrades, including the replacement of the building’s cooling towers, chillers, pumps, and controls, vastly improving 400 South Tryon’s cooling and energy efficiency. Ownership has also made significant upgrades to the building’s elevators and parking deck, plumbing infrastructure, and security and fire alarm systems. The tenant fitness center, featuring state-of-the-art equipment, locker rooms, and showers, opened last week.

400 South Tryon’s owner, a joint venture between Charlotte’s Trinity Capital Advisors and DRA Advisors LLC, has been fine-tuning and finalizing the building’s updates since spring of this year.

“Our tenants and the public won’t recognize the lobby when we’re done,” said Gary Chesson, Founding Partner at Trinity Capital Advisors. “We’ve worked quickly to conceive and implement the renovations. We’ll continue to look for ways to further transform 400 South Tryon, including marketing 8,000 square feet of retail space at the corner of MLK Boulevard and Church Street, overlooking Romare Bearden Park and BB&T Stadium.”

Currently 92 percent occupied, the building’s major tenant is Duke Energy. The eighth and ninth floors are vacant, totaling 36,000 square feet of space.

“It’s exciting to be a part of such a large-scale project that will have an immediate impact on the building,” said Rhea Greene, Partner and Director of Office Leasing at Trinity Partners. “400 South Tryon is perfectly positioned to take advantage of everything that downtown’s Third Ward has to offer while giving the tenants the modern feel and amenities that matter most.”

Ownership recently hired Adam Williams with Legacy Real Estate Advisors to represent 400 South Tryon’s retail space. Williams will focus on the existing retail opportunity at the corner of Church Street and Martin Luther King Boulevard facing Romare Bearden Park.

Design Team: Studio Fusion
Alison Volckens, Director of Interior Design
Angie Beard, Interior Designer / Project Manager
Stryker Hillhouse, Designer

Project Management: Trinity Partners
Margaret Markovich, Project Manager

Lobby Renovation Contractor: Tyler 2 Construction

Fitness Center Contractor: Trinity Partners Construction

Leasing Team: Trinity Partners
Rhea Greene, Partner and Director of Leasing
Jennifer Kurz, Senior Leasing Agent

Property Management: Trinity Partners
Lauren Miller, Property Manager

ABOUT DRA ADVISORS
DRA Advisors LLC is a New York-based registered investment advisor specializing in real estate investment management services for institutional and private investors, including pension funds, university endowments, foundations, and insurance companies. Since DRA was founded in 1986, the firm has acquired over $22 billion in assets, including 47 million square feet of office space, 27 million square feet of industrial properties, over 52 million square feet of retail space and 62,000 residential units. As of June 30, 2015, DRA currently has over $6 billion in assets under management, consisting of over 50 apartment communities comprised of more than 17,000 units and 47 million square feet of office, industrial, and retail under management. For more information, visit draadvisors.com.

ABOUT TRINITY CAPITAL ADVISORS
Trinity Capital Advisors focuses on the acquisition and development of institutional quality office, industrial, and mixed use real estate in the Southeastern United States. The firm has acquired or developed over 13 million SF totaling over $1.8 billion since inception. Trinity Capital has acquired or developed some of the most successful workplace real estate projects in the Southeast, including Perimeter Park, Ally Center, NASCAR Plaza, Perimeter Woods Business Park, Toringdon Office Park, and Westlake Business Park. Investments are capitalized through Trinity Capital’s Value Fund series as well as through partnerships with some of the country’s top institutional investors. For more information about Trinity Capital, please visit our website at trinitycapitaladvisors.com.