Crescent Communities Begins Renovations on SouthCourt Building
Durham, NC – (January 31, 2023) – Crescent Communities, a nationally-recognized, market leading real estate investor, developer, and operator of mixed-used communities, has kicked off renovations on SouthCourt, the premier office destination in Durham. Acquired by Crescent Communities last year, the six-story building is located within walking distance of the bustling University Hill mixed-use development, making it an ideal office location in this growing submarket.
“We’re thrilled to begin these improvements, which will further solidify SouthCourt as the most desirable office and retail offering in the South Durham submarket,” said Sagar Rathie, Managing Director of Commercial at Crescent Communities. “Four move in ready suites, which have been hugely successful for our office properties in other markets, are under way as well and will be ready for occupancy in Q2 2023.”
Current and future SouthCourt tenants will enjoy a refreshed lobby and common areas, improvements to restrooms, and an expanded outdoor patio space. Additional on-site amenities are unparalleled for the Durham area and include a personal training facility, full-service salon, private terraces on upper floors, free and ample parking, and a fully equipped conference center. On the ground floor, retail space is available for leasing through CBRE | Raleigh. Retail availabilities include café and commercial kitchen spaces along with potential for outdoor patio seating.
“We’re excited by the SouthCourt building updates and believe the retail opportunities are very attractive within a dynamic South Durham submarket,” said Matt Larson, Executive Vice President of CBRE | Raleigh.
In addition to common area upgrades, Crescent Communities is investing in four move in ready suites, set to be fully updated and equipped with high-end finishes and eye-catching architectural improvements. Each suite will have a distinct modern design, and will vary in size, ranging from approximately 1,600 square feet to over 7,000 square feet, fitting the individual needs of each potential tenant.
“SouthCourt’s office environment is complimented by convenience onsite with nearby food and drink establishments at UHill, including Ashley Christensen, a James Beard Award winner for Outstanding Chef in the US,” said Dennis Hurley, Managing Director, JLL Raleigh. “We’re excited to offer move-in-ready conditions to attract new office tenants to this dynamic and growing area.”
For office leasing opportunities, please contact Dennis Hurley or Hillman Duncan at JLL:
For retail leasing opportunities, please contact Matt Larson at CBRE | Raleigh:
About Crescent Communities:
Crescent Communities is a nationally recognized, market-leading real estate investor, developer and operator of mixed-use communities. We create high-quality, differentiated multifamily and commercial communities in many of the fastest growing markets in the United States. Since 1963, our development portfolio has included more than 77 multifamily communities, 24 million square feet of commercial space and 60 single family master-planned communities. Crescent Communities has offices in Charlotte, DC, Atlanta, Orlando, Nashville, Dallas, Denver, Phoenix and Salt Lake City. Our residential communities are branded NOVEL, RENDER and HARMON by Crescent Communities and our industrial developments are branded AXIAL by Crescent Communities.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About CBRE | Raleigh:
CBRE | Raleigh is a CBRE office serving the Triangle region and is a joint venture between local principals and CBRE Group, Inc. 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 2021, the Raleigh office completed $3.3 billion of sales and leasing transactions. Please visit our website at www.cbre.us/raleigh.