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The Foundry

Some saw an abandoned iron factory. We saw alchemy.
Originally built
1920s
Acquired/redeveloped
2014
Acreage
5
Square footage
61k
Buildings
4
Zoning
MUDD

About the Property

Named after the former Queen City Foundry, built in the 1920s, The Foundry is an adaptive-reuse commercial project that offers a collective of creative office, workshop and retail spaces. The 61,000-SF property is located on five acres in Charlotte’s Third Ward neighborhood, adjacent to Bank of America Stadium, walkable to Uptown and easily accessible from Interstate-77.

The property was acquired in 2014 at 68% occupancy and in dire need of significant improvements and maintenance. Beauxwright followed our vision to retain the character of vintage industrial buildings while upfitting them to attract creative companies. The renovations led to increased demand from tenants as well as a substantial growth in rental rates, from $11/SF at acquisition to the current $30/SF.

Within 24 months of Beauxwright’s acquisition, the property reached 100% occupancy – a testament to substantial momentum in the submarket and proof that our building upgrades and renovations ultimately create highly competitive office/retail space. The Foundry has given Beauxwright invaluable perspective on several “hows” – how creative office tenants analyze their space needs, how companies use and grow in their space, how amenities are perceived and utilized, how multi-tenant buildings function, how to foster a community, how to inspire collaboration, and how to compete for prospective tenants. We understand how to incubate, flex and expand startup companies, reposition suites for unique uses such as showrooms or film studios, and maximize the value of common areas and amenities.  

In addition, Beauxwright launched a capital improvement plan to transform The Foundry’s expansive atrium, so that it could provide tenants with flex space for informal meetings or lunches, a place to relax, or a location to host company gatherings.  

Exciting progress continues as we capitalize on The Foundry’s prime location in the center of Charlotte’s next development boom. In 2019, we began assembling additional land surrounding the property, with the goal of further transforming The Foundry into the centerpiece of Charlotte’s up-and-coming Entertainment District. We work in close collaboration with the City of Charlotte, LandDesign, one of Charlotte’s most prominent civil design groups, and neighboring property owners. On the horizon are the Lynx Light Rail Silver Line extension, the arrival of Major League Soccer, the proposed renovation or relocation of Bank of America Stadium, massive public infrastructure investments, and growing institutional ownership of surrounding parcels. Beauxwright is currently finalizing our assemblage, increasing our holdings from 3.5 to five acres, and focusing on our entertainment-based mixed-use development plan.  

The Foundry’s campus includes a Brownfields agreement to protect future development opportunities.

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