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Rendering of 400H. Image courtesy of Trammell Crow Co.
Trammell Crow Co., together with its subsidiary, High Street Residential, have topped out 400H, a 365,000-square-foot mixed-use project in Raleigh, N.C.
Designed by Gensler, the development is expected to be completed in the summer of 2023. Partners behind the project include AECOM-Canyon Partners and HM Partners.
The tower’s construction is financed through a $114.6 million loan originated by Quadreal Finance, CommercialEdge data shows. Work started in 2021, with Barnhill Contracting Co. overseeing the development process. CBRE is providing property management services. Office leasing will be directed by JLL’s Executive Vice President John MacDonell and Associate Mimi Portratz, while York Properties’ Senior Vice President John Koonce will be in charge of retail leasing.
READ ALSO: Office Leasing Strategies for the New Landscape
Upon completion, 400H will include 150,000 square feet of Class A office space, 16,000 square feet of ground-floor retail and 242 luxury apartment units. Located at 400 Hillsborough St., the 20-story mixed-use project will feature floorplates ranging from 21,039 to 25,000 square feet, five passenger elevators and 674 parking spots, according to CommercialEdge data.
Common-area amenities for office tenants will include an outdoor terrace equipped with space for events that can host as many as 150 people, a fitness center that will be shared with the property’s residents and more than 10,000 square feet of conference space. The residents’ amenities will include a SkyHub on the ninth floor, an outdoor swimming pool, a common-area lounge on the 20th floor and an outdoor terrace.
Focused on raising standards
Situated in downtown Raleigh, the mid-rise tower is close to interstates 40 and 440, as well as Glenwood South, the city’s entertainment district, and the Warehouse District, which is home to companies including Envestnet and Citrix. The property is also within 3.5 miles from North Carolina State University and within 13 miles of Raleigh-Durham International Airport.
400H aims to raise the bar for mixed-use experiences, according to Woody Coley, senior vice president for TCC and lead on the office and retail portions of 400H. The office portion’s design and amenity space are part of the growing trend to create collaboration spaces that enhance the recruitment and retention of employees and bolster their productivity, Coley said in prepared remarks.
In the fall of 2022, DeWitt Carolinas Inc. moved forward with another major Raleigh project: 1000 Social, the first of two, 12-story office towers situated within a $1 billion mixed-use development. Earlier in April 2022, Barings and its joint venture partner The Fallon Co., completed 301 Hillsborough at Raleigh Crossing, a 292,500-square-foot mixed-use tower in downtown Raleigh.
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