LaBella Associates merges four offices, leases its first downtown Charlotte space in 400 South Tryon
Charlotte, North Carolina – August 6, 2018 – LaBella Associates, an international architecture, engineering, environmental and planning firm, has leased 18,828 SF of space in downtown Charlotte’s 400 South Tryon building.
Headquartered in Rochester, New York, LaBella Associates has four key service offerings: buildings, energy, infrastructure, and environmental. The firm is merging its four North Carolina offices and 58 employees, currently located across the Charlotte metro area, into the 400 South Tryon space. The space is currently undergoing an upfit and the firm is expected to occupy the entire 13th floor beginning in November.
“This is an exciting time to work at LaBella,” said Keith Garbrick, Regional Vice President. “Our firm has experienced tremendous growth in the last five years, particularly in the Charlotte metro area. By combining our offices into a central Uptown location we hope to increase employee and community engagement and elevate our presence in the region we serve. We look forward to strengthening our partnerships with each other and in the community.”
This latest transaction brings the building to 97% occupancy. Trinity Partners’ Office Leasing brokers, Rhea Greene and Jennifer Kurz, represented the building’s owners, a joint venture between Trinity Capital Advisors and funds managed by Oaktree Capital Management L.P. (“Oaktree”), in the transaction. Robby Kirby with MPV Properties represented LaBella Associates. LaBella joins major office tenants at 400 South Tryon such as, Duke Energy, Driven Brands, and SkillStorm.
“400 South Tryon’s 13th floor is the perfect spot to bring LaBella’s offices together,” said Rhea Greene, Partner at Trinity Partners. “The building is centrally located, easy to access from all over the city and in the heart of downtown’s post popular amenities. And the building itself has so much to offer at an overall value that’s getting harder and harder to find in the market.”
400 South Tryon is in the heart of downtown Charlotte, steps away from Bank of America Stadium, BB&T Ballpark, Romare Bearden Park, and restaurants and retail. Oaktree recently acquired the office tower in May of 2018 from a Trinity Capital Advisors entity. Oaktree and Trinity Capital have partnered to recapitalize the building under a new joint venture, with the intention of continuing to enhance the building and deliver a Class-A experience for tenants.
The property has undergone extensive renovations in the recent years that have transformed the building inside and out, including bringing in popular retail tenants such as local favorites Rhino Deli & Market, JJ’s Red Hots, and B. GOOD, as well as activating the building’s parking deck for community events such as yoga classes and outdoor movie showings. Further enhancements are planned to attract and retain tenants.
About Trinity Partners
Trinity Partners is a full-service commercial real estate firm serving corporate users and institutional owners throughout the United States, with 10 service lines ranging from landlord and tenant representation to property management and investment sales. Trinity currently leases and/or manages more than 20 million square feet of space across the region through our three offices in Charlotte and Raleigh, North Carolina, and Greenville, South Carolina.
About Trinity Capital Advisors
Trinity Capital Advisors focuses on the acquisition and development of institutional quality commercial real estate in the southeastern United States. The firm has invested more than $2.3 billion acquiring and developing more than 18 million square feet of the most successful workplace real estate projects in North Carolina, South Carolina, Tennessee, and Florida, including CBD office towers, industrial portfolios, suburban office parks, and mixed-use developments. Investments are capitalized through various Trinity Capital investment vehicles and partnerships with some of the country’s top institutional investors.
Oaktree is a leader among global investment managers specializing in alternative investments, with $122 billion in assets under management as of June 30, 2018. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 900 employees and offices in 18 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/.
About LaBella Associates
At LaBella Associates, our job is to create – structures, plans, ideas, results. But here’s what really drives us: creating partnership between our team and our clients. The pursuit of partnership is embedded in our culture—has been since our inception in 1978. And it affects client outcomes in profound ways. It means we’re built to expertly execute projects from start to finish. That we have the talent and resources to take on any challenge. That projects are completed on time, on budget, and beyond expectations. Our staff of over 700 team members is spread across 19 office locations, five in North Carolina. We operate locally in Gastonia, Charlotte, Davidson, Winston-Salem, and Greensboro.
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