News Turner Construction Signs 20,022 SF Lease in SouthPark’s Roxborough Building

Jan 12, 2012

Charlotte, NC – January 11, 2012 – Turner Construction Company will soon call the fourth floor of SouthPark’s Roxborough Building home after signing a lease for 20,022 SF in the iconic SouthPark building. The international construction company has over $8 billion in annual construction income, with regional offices in Charlotte, Raleigh, and Charleston. The company plans to move into the building in Spring 2012.

“The positive working relationship that we have established with CBRE, Trinity Partners and The Lionstone Group has made this selection process a pleasant experience,” noted Gary Stradowski, Vice President and General Manager of Turner’s Carolinas operations. “We look forward to working with all three firms in the future.”

CBRE’s Tripp Guin represented Turner in the transaction. “The Roxborough Building is a great fit for Turner,” Guin said. “The location is ideal, and the top floor gives Turner the flexibility to build exactly what they want for their Charlotte office.”

The Roxborough Building is centrally located on the corner of Morrison and Roxborough Roads, directly across from SouthPark Mall and Specialty Shops on the Park and surrounded by the desirable submarket’s most popular amenities. The building’s fourth floor features panoramic views of SouthPark and the neighborhood’s remarkable mature tree canopy. The 65,000 SF building is owned by Lionstone Cash Flow Office One, a joint venture of the Oregon Public Employees Retirement Fund and The Lionstone Group. They also own SouthPark’s Morrison Building (neighbor to The Roxborough building, and commonly referred to as “The Gold Building”) and 6201 Fairview, located at the corner of Fairview Road and Barclay Downs Drive. Trinity Partners’ Rhea Greene represented the landlord in the transaction. The Roxborough Building, managed by PM Realty Group, is now 90% occupied.

“The location, visibility, and abundant amenities made The Roxborough Building a natural choice for Turner,” said Greene. “This lease serves as a great example of the SouthPark submarket’s strength in the overall Charlotte market, and with the 12% submarket vacancy rate limiting options for users, Lionstone’s three building portfolio is perfectly positioned with 20,000 SF of high-quality SouthPark space.”