Orvis Charlotte Just Got Better With A New Location
July 15, 2024
Three new office tenants have signed on to 2825 South, taking more than 24,000 square feet at that South End development.
Adhesion Wealth Advisor Solutions, a subsidiary of AssetMark Financial Holdings, will occupy 13,350 square feet on the building’s fifth floor. Adhesion is a provider of wealth management solutions for financial advisors. Newmark’s Patrick McCoy and Jack Glasgow represented Adhesion in the deal. Adhesion is currently located at 5925 Carnegie Blvd. in SouthPark.
LoanBoss, a commercial real estate debt management software firm, has leased 7,459 square feet on the fourth floor. The firm was represented by Cresa’s Christianna Williams and Zach McLaren. LoanBoss is currently located at 1435 W. Morehead St. in FreeMoreWest.
Multifamily real estate firm Charter Properties has leased 3,973 square feet on the fourth floor. Thrift CRES’s Stephen Woodard represented Charter. The firm is currently located at 1520 South Blvd. in South End.
The 2825 South project was developed by Marsh Properties and Aston Properties. It’s located at 2825 South Blvd.
Office occupancy will reach 50% once the new tenants move in. Rhea Greene and Chase Merkel of Trinity Partners represented 2825 South in the deals.
“All three companies had a bit of a different angle, but the location within South End was very appealing to all of them,” Greene said. “Marsh’s approach is that they hold long term, and they’re used to being a multifamily owner so they know how to care for tenants and the community of a building.”
Aston Properties and Samet Corp. also lease office space in the building, occupying 8,000 square feet and 12,000 square feet, respectively.
Greene said Charlotte-based Marsh is planning four spec suites at the property, ranging between 2,696 and 6,602 square feet. Construction will begin in September and wrap in the first quarter of 2025.
“We recognize that there is a demand in the market for tenants below 10,000 square feet, and it’s very hard for them to find a perfect fit, specifically in new construction,” Greene said. “It’s expensive, and somewhat overwhelming, to build out. In South End, in particular, there’s a little bit of a supply and demand issue for tenant options.”
2825 South is a six-story, 138,000-square-foot office building between Marsh and Elmhurst roads in South End. It delivered in 2023. The project has 21,000 square feet of ground-floor retail space. It was the third phase of Marsh’s 42-acre redevelopment that also includes a retail shopping center anchored by Harris Teeter and The Edge apartments.