News Downtown’s Johnston Building Continues Leasing Success

Dec 4, 2012

Charlotte, NC – December 4, 2012 — Much has been said recently about Charlotte’s resilience during the recession as indicators point to a positive economic uptick. Downtown Charlotte’s historic Johnston Building serves as an example of such resilience as this year’s transactions put the building at its highest occupancy in four years.

The building, located at 212 South Tryon, is perfectly situated in the middle of downtown’s business district and steps away from its cultural center (including urban parks and the new baseball stadium). But as businesses started to feel the consequences of recession, the building’s occupancy dipped to 72%. That’s when the building’s ownership and leasing team worked diligently to put the building back on the radar, increasing occupancy to 86%.

New tenants include:

Montreat College (14,692 SF, represented by Tripp Guin with Tripp Commercial)

Genesis10 (5,791 SF, represented by Brian Brtalik with Cushman Wakefield | Thalhimer)

Goebelt Insurance Services (260 SF)

Schwaba Law Firm (929 SF)

Joyce Engineering (585 SF)

Salon of Evidence (695 SF)

Bogey at 18 Golf Shop (591 SF)

Major, Lindsey & Africa renewed and expanded into 2,393 SF (represented by Cassidy Turley’s David Dorsch) and The Eliassen Group also renewed their lease.

Leah Bailey, SIOR, and John Ball handle the leasing for 212 South Tryon Limited Partnership, the building’s owner.

“This classic building truly serves as an example of our market as a whole,” noted Bailey. “Sure, The Johnston Building felt the hit, like everyone did, during the depths of the recession. But when businesses started to see signs of improvement, we made sure we were poised to offer flexible space options in the center of Charlotte’s business district, consistently increasing occupancy as the market outlook improved. We’re thrilled to be a part of the resurgence.”

The 174,000 SF building has over 45 tenants, and has long served as the ideal location for area businesses that needed to be in the middle of the business community, but didn’t need huge floorplates.

“One of the keys to the building’s recent success is that our floorplates offer options; the right size space to fit the needs of a smaller, potentially growing user,” commented Ball. “So when businesses were able to grow or re-locate, we were able to provide the solution they needed to make the decision that much easier, whether they needed 15,000 SF like Montreat College, or 585 SF like Joyce Engineering. The building benefits from hands-on, flexible ownership willing to work with prospects, and that’s positioned The Johnston Building as the perfect fit for growing tenants in the improving market.”

Built in 1924 and long considered one of the city’s most charming buildings, The Johnston Building is one of the last remnants of downtown Charlotte’s historical architecture. Its dramatic barrel archway and original bronze finishes make it an easily identifiable icon on South Tryon Street. In 1992, the Charlotte Mecklenburg Historic Landmarks Commission designated the building a Charlotte Historical Landmark, and although it has undergone several major modernizing renovations over the years, it still retains many of its original finishes.