New Office and Retail Space announced in NoDa: Indigo CLT
Charlotte, North Carolina – August 20, 2019 – Indigo CLT at 4000 Raleigh Street in Charlotte’s NoDa will soon begin its transformation into a mixed-use destination. The adaptive reuse development will transform the existing 60,000 SF industrial building into 40,000 SF of Class-A office and 20,000 SF of retail space.
Trinity Partners’ Rhea Greene and Chase Merkel are handling the office leasing efforts for Indigo CLT, and Rusty Gibbs of The Nichols Company will oversee the retail leasing. Developer Canopy is targeting a completion in late spring of 2020.
The existing building, built in 1954 and formerly home to a mill working company, is on the light rail line and next door to the Sugar Creek light rail station, the Sugar Creek Park and Ride Deck and just a few blocks north of NoDa’s core business district. Extensive redevelopment plans for Indigo CLT will highlight the existing original architectural features, including its 18’ ceilings, exposed brick, and numerous skylights. The atrium lobby includes a flood of natural lighting and plans for an activated rooftop and there will be designated outdoor collaboration areas for office tenants. The building also features a covered outdoor platform deck along the light rail line, offering additional meeting space and potential cafe seating.
Office tenants can expect a three-per-thousand parking ratio, with additional parking available at the 632-space free parking deck next door at the light rail station.
“NoDa’s continued growth outward from its central business district has been buoyed by the light rail and redevelopment opportunities like this one,” said Merkel. “This building has such great bones, and its planned creative office and retail space is the perfect complement to NoDa’s authentic personality and appeal.”
The redevelopment plans also include the development of a boutique apartment community onsite, adjacent to the existing building. Ownership and Gibbs plan to target complementary retail tenants to support Indigo CLT’s live-work-play dynamic: a coffee shop/juice bar, second-generation brewery, bodega, and fitness concept.
“I couldn’t be more excited about this adaptive re-use project,” said Gibbs. “Along with the benefit of sharing a building with 40,000 SF of Class-A office tenants, retail tenants and patrons get to advantage of the light rail in one of Charlotte’s most popular neighborhoods and the booming multi-family development that’s taking place. Canopy’s plans for the space honor the building’s original features and character, offering retail tenants unique, interesting spaces for their business and customers.”
The redevelopment is located on Charlotte’s LYNX Blue Line and the Sugar Creek Light Rail Station, giving users immediate and easy access to an almost-effortless commute across the city. For drivers, it’s less than five minutes from the city’s major interstates I-277, I-77, and I-85, and the recently reopened Sugar Creek bridge has enhanced accessibility from all over the city. It’s also a mile from NoDa’s popular downtown area that’s known for Charlotte’s best bars, restaurants, and entertainment hot spots.
“We’ve been considering redeveloping this building for a while now because we knew its existing attributes have so much potential,” noted Panchali Sau, cofounder of Canopy. “We couldn’t pass up the opportunity to build on what was already here to create a vibrant, creative destination in one of our favorite neighborhoods in the city.”
About Trinity Partners
Trinity Partners is a full-service commercial real estate firm serving corporate users and institutional owners throughout the United States, with ten service lines ranging from landlord and tenant representation to property management and investment sales. They are known for their entrepreneurial spirit, best-in-class performance, and respected team of commercial real estate professionals, who are directly responsible for the company’s success and collaborative culture. The firm currently leases and/or manages over 20 million square feet of office, industrial, mixed-use, and retail space across the region through their four offices in Charlotte and Raleigh, North Carolina, and Columbia and Greenville, South Carolina.
Canopy is a Charlotte-based boutique real estate development firm that focuses on developments with long-term value through repurposing and renovating existing structures, often focusing on transitional, but aggressively developing areas. Canopy’s portfolio includes office, retail, and residential assets across Charlotte. Canopy previously developed NoDa Street Market, which is home to Divine Barrel Brewery and Crown Station Coffee House and Pub, and is currently underway on The Rail House, an adaptive re-use project at N. Tryon and E. 27th St, and The Cottages at Sardis, a boutique community of contemporary French cottages.
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