Wray Ward HQ


Overview

Asset Size: 38,300 SF
Location: Charlotte, NC
Product Type: Creative Office
Strategy: Income & Growth

Opportunity & Strategy

  • Off-Market Forward Purchase – Abacus agreed to acquire this asset while still in development and closed 9 months later
  • Trophy Asset – the asset is a newly delivered, fully leased headquarters building occupied by the largest marketing agency in Charlotte
  • Bolt-On Acquisition – the Wray Ward HQ is adjacent to Abacus’ Switch Yard adaptive reuse creative office redevelopment project in Charlotte’s Freight District, allowing its partnership to grow and de-risk the overall portfolio by adding immediate occupancy and cash flow
  • Marketing Synergies – with the addition of the Wray Ward HQ, Abacus is now able to utilize this completed, trophy quality asset to enhance its marketing efforts at Switch Yard while that asset is still in production which it anticipates will help catalyze leasing momentum