CBRE|Raleigh Chosen to Lease New Downtown Mixed-Use Development in Raleigh
CBRE| Raleigh has been awarded the leasing of Charter Square in downtown Raleigh.
Located at 501 Fayetteville Street, anchoring the southeast corner of City Plaza, and directly adjacent from Memorial Hall, the Raleigh Convention Center, and the Marriot City Center, the 300,000 square foot Class “A” office tower will offer unique headquarter opportunities for national and regional companies to establish their brand and to become a civic partner with the City of Raleigh. In addition to prime office space, Charter Square will bring much needed high profile retail space to City Plaza adding greater amenities to office employees, residents and downtown visitors.
Charter Square is about much more than the economic development associated with additional tax base and new construction jobs; it is a public private partnership designed to complete a critical component of downtown's fabric. Charter Square will combine with the new Marriot hotel, the convention center and the Progress Center for the Performing Arts to permanently shift the CBD's center of gravity to the Southern end of Fayetteville Street.
Brad Corsmeier, Senior Vice President for CBRE stated, “CBRE|Raleigh is extremely excited about its partnership with the developers of Charter Square. We strongly believe in the new momentum Red Hat has created downtown. It’s time to take advantage of that ‘buzz’ in the market place. Add in the amenities that will be available through new urban development and the lack of quality big blocks of Class A space, should result in a recipe for success. This is a phenomenal opportunity for an anchor tenant to put their corporate identification on Raleigh.”
Brad Corsmeier and Charlie Coyne, Vice President of Retail Services, led the pursuit of Charter Square in conjunction with CBRE’s Enterprise Management and Property Marketing Teams. Leasing efforts are currently underway and there is substantial interest from large office users and well-known restaurants and retail operators. Mr. Corsmeier will spearhead the office leasing efforts, while Mr. Coyne will head up the retail leasing responsibilities.
About CBRE – Raleigh
CBRE|Raleigh is a CBRE affiliate office serving the Triangle region. The firm assists real estate owners, investors and occupiers by offering strategic advice and execution for property leasing and sales; property, facilities and project management; corporate services; debt and equity financing; investment management; valuation and appraisal; research and investment strategy; and consulting. In 2011, the Raleigh office completed 335 lease transactions encompassing 4.63 million square feet worth $245.7 million, and 48 sales transactions worth $456 million.
About CBRE – Mid-South Region
CBRE is the only global real estate services firm with offices in Norfolk, Newport News, Richmond, Charlottesville, and Fredericksburg, VA, and Raleigh, Greensboro and Winston-Salem, NC. These offices are collectively referred to as the Mid-South region. The CBRE Mid-South offices (excluding Northern Virginia and Charlotte, NC offices) closed approximately $1.3 billion in sales and leasing transactions in 2010 and have an asset services portfolio of more than 57.7 million square feet.
About CBRE Group, Inc.
CBRE Group, Inc. , a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2010 revenue). The Company has approximately 31,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.