A five-story office building on Park Road near Montford is about to get a makeover.
The first phase of construction is underway at the 111,436-square-foot office building on the corner of Park and Abbey Place. The first phase should be done by the end of this summer, according to the property owner, Foundry Commercial.
Exterior work — including the removal of the stucco façade, replacing existing walls with new glass, and a fresh exterior paint job — will start this fall and wrap up in spring 2021.
Interior construction will include: expansion and modernization of the first-floor lobby; the addition of new carpet, lights, and paint throughout; and renovation of restrooms. BB+M is the architect and interior designer behind the project.
A real estate investment company based in Orlando, Foundry Commercial bought the 1970s-era property at 4600 Park Road for $19.5 million last year, county property records show. The firm plans to spend more than $4 million on the project.
Foundry partner John Ball says the company’s received interest in the office space, despite the current work-from-home era and coronavirus pandemic. Construction on the site isn’t expected to wrap up for several more months, so Ball is hopeful that demand will bounce back.
“From what we’re seeing across our portfolio, we’re still very optimistic about Charlotte’s future and the office market in particular,” Ball says.
The property will include 23,000 square feet of available space on each of the top two floors, plus another 8,000 square feet on the third floor, totaling 54,000 square feet.
Near the 4600 Park property, the neighboring Park Road Shopping Center and Montford area are also in the midst of rapid change.
Behind its offices off Park, Grubb Properties recently wrapped up construction of an apartment complex called Link Apartments. Around the corner, Crescent Communities last year started leasing a new, 337-unit apartment complex, Novel Montford. Over on Montford, on the spot where Andrew Blair’s once was, developer and bar operator Andy Henson is building a five-story building that’ll have space for restaurants and offices.
“There’s a nice concerted effort to make this corridor something nice and something unique,” Ball says.
Here’s a look at what 4600 Park will look like. All renderings are courtesy of Foundry Commercial.
A previous version of this story understated Foundry Commercial’s investment in the project.