Turner Construction to Occupy Space in SouthPark; Ballantyne Development Moves Forward

By Amalia Otet, Associate Editor

Turner Construction Company plans to relocate from its current location at 5955 Carnegie Boulevard to the Roxborough Building in Charlotte’s SouthPark neighborhood, in which it will occupy 20,022 square feet on the fourth floor. Built in 1984, the four-story office building is centrally located on the corner of Morrison and Roxborough Roads, directly across from the SouthPark Mall, and comprises 63,800 square feet. It is currently 90-percent leased, according to the Charlotte Business Journal.

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

The Class B office building is owned by Lionstone Cash Flow Office One, a joint venture of the Oregon Public Employees Retirement Fund and The Lionstone Group, which also owns SouthPark’s Morrison Building and 6201 Fairview. The landlord was represented by Trinity Partners’ Rhea Greene in the transaction.

In other commercial real estate news, South Charlotte Weekly reports important progress on the Ballantyne development, one of the nation’s largest speculative office projects, kicked off by Bissell Companies in 2011.

The new structure, which will be known as the Bragg Building, was celebrated during a topping-off ceremony on January 12. It will stand next to the Woodward Building, currently under construction and also part of the project, near the corner of North Community House Road and Ballantyne Commons Parkway. The two buildings will add a total 550,000 square feet of Class A office space to Ballantyne Corporate Park.

Both buildings will be built to LEED Silver specifications and will include free structured parking and a center courtyard. The project is slated for completion by the end of 2012. Bissell Development will manage the project, working with architecture firm LS3P Associates and general contractor Rodgers Builders. The investment has been estimated at approximately $100 million.