Northpond acquires Packard Place

Northpond Partners recently announced it has acquired Packard Place in Charlotte, North Carolina. The mixed-use building totals 95,128 square feet and is centrally located at 222 South Church Street in downtown Charlotte, which is home to retail and office tenants including Ink N Ivy, Not Just Coffee, Arts &  Science Council, and Insight Enterprises.

Northpond has engaged notable architectural firm, Gensler, to explore comprehensive common area renovations. Potential plans include the creation of an open, engaging lobby allowing for tenant connection and collaboration. Capital improvements are expected to begin later this year and be completed in second quarter 2022.

“We have the opportunity to reposition the building through meaningful renovations that meet tenants’ evolving needs. Packard Place provides both an irreplaceable location and a creative alternative for companies looking for a work environment that reflects their brand and appeals to top-tier employee talent,” Parry continued.

This is Northpond’s second Charlotte investment after their acquisition of the historic Latta Arcade building on South Tryon Street in March 2020.

“The secular tailwinds that Charlotte has demonstrated over the past decade with some of the highest rates of economic growth and population growth in the country, has been a key factor in our investment approach in Charlotte and more specifically in Packard Place.” Said Parry.

Northpond has retained Trinity Partners’ office leasing brokers Maddy Howey and Tim Arnold to lease the property. Additionally, they have hired Trinity Partners to manage the property. For more information or to tour Packard Place, please contact Maddy Howey (704.295.0448) or Tim Arnold (704.295.0404).

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