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News release

CHARLOTTE

Former Charlotte Big-Box Transformed to Creative Office Space

JLL Hired to Market and Lease Innovative Space


CHARLOTTE, NC, (November 2, 2016) – A joint venture between Mainstreet Capital Partners and DRA Advisors, LLC has successfully transformed a shuttered big box into INQ @ 2401, a versatile office environment near Crownpoint Development. JLL represented the owner in the redevelopment of the former retail space and has been hired to lease and market the property. 

Major renovations including a brand new façade, HVAC, roof, windows, landscaping and parking lot were completed the week of Oct. 11,. Stocker Associates is the general contractor and Redline Design created the new look for the exterior of the building.  

"The building is essentially a brand new spec building," said JLL vice president Tom FitzGerald, "and importantly, the property meets the demands of today's office tenants with a higher-than-normal eight per 1,000 parking ratio and allows the occupant the unique opportunity to create an open office environment craved by creative start up and tech companies." 

FitzGerald is marketing the property with JLL colleagues Barry Fabyan and Charley Leavitt.  

"INQ @ 2401 is a great example of a building conversion with the end user in mind.  Interest has been high and we attribute that, in part, to the current real estate and technology trends in Charlotte and across the country," said Fabyan. Charlotte ranks third in markets for percent increase of technology job growth, according to JLL's research

INQ @ 2401 is located at the well-traveled intersection of Independence Boulevard and Sardis Road with access to I-485 and connectivity to Uptown and the Charlotte Douglas International Airport.   

The building for INQ @ 2401 is ready for tenant build-out.  

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate.  JLL is a Fortune 500 company with, as of December 31, 2015, revenue of $6.0 billion and fee revenue of $5.2 billion, more than 280 corporate offices, operations in over 80 countries and a global workforce of more than 60,000.  On behalf of its clients, the company provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. As of September 30, 2016, its investment management business, LaSalle Investment Management, has $59.7 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com

About Mainstreet Capital Partners
Mainstreet Capital Partners is a real estate investment and management company seeking opportunities in office and industrial buildings across the southeastern United States. Mainstreet Capital Partners, Inc. was established in 1999 by Paul J. Kilgallon. Mainstreet seeks to align itself with investment partners by sourcing investment opportunities in its core markets, then acting as the General Partner to complete the transaction. Mainstreet also manages the properties through its management affiliate, Mainstreet Real Estate Services, Inc.

About DRA Advisors, LLC
DRA Advisors is a real estate investment organization that has specialized in value-added real estate investing for over 30 years.  Since 1986, DRA's focus has been in the retail, office, multi-family and industrial sectors in the United States with acquisitions that include more than 1,350 properties valued at $27 billion.  Currently, DRA Advisors has more than $9.8 billion of assets under management.