400H Will Open Summer 2023, Delivering 365,000 Square Feet of Class A Office, Residential and Retail Space
Trammell Crow Company (TCC), a global real estate developer, its residential subsidiary, High Street Residential (HSR), and co-development partners AECOM-Canyon Partners and HM Partners have topped out 400H, a 365,000-square-foot mixed-use development in Raleigh, North Carolina. The project is targeting a summer 2023 opening which will include 150,000 square feet of Class A office space, 242 luxury residential units and 16,000 square feet of ground-floor retail space.
The development, designed by Gensler, will optimize the workplace experience of employers and their teams, as well as the residential experience of occupants who are seeking best-in-class urban living in the fast-growing Raleigh center. Located at 400 Hillsborough Street, 400H is at the center of downtown Raleigh’s four primary districts, including the retail and entertainment district of Glenwood South, the burgeoning Warehouse district, the State Government Complex, and Raleigh’s traditional downtown office core along Fayetteville Street. Construction on 400H started in August of 2021 and is being handled by Barnhill Contracting Company.
“The downtown Raleigh office core is shifting from Fayetteville Street, as validated by the 2022 leasing trends and activity in the Warehouse and Glenwood South Districts, which already have strong work-play environments,” said Woody Coley, Senior Vice President for TCC and lead on the office and retail portions of 400H. “400H will raise the bar on mixed-use experiences, while adding to Raleigh’s availability of highly amenitized Class A office space. Our office design and SkyHub amenity space are part of the growing trend to create collaboration spaces that can enhance the recruitment and retention of employees and bolster their subsequent productivity.”
Amenities for office tenants will include over 10,000 square feet of designated conference and gathering spaces, an outdoor terrace equipped to handle events of up to 150 people, as well as a fitness center that is shared with the residential tenants. Residential tenants will have exclusive access to their own SkyHub amenity space on the ninth floor, offering a social space, an outdoor terrace and an outdoor pool with views of the Downtown skyline. In addition, residents will have exclusive access to penthouse-level amenities on the 20th floor, including a distinct lounge. 400H will also offer 16,000 square feet of thoughtfully curated ground-floor retail.
“Residentially,400H is intended to advance urban living by utilizing lessons and insight gathered from our firm’s many projects across the world. Increasing the scope and scale of residential amenities by sharing certain spaces with office users is a great example of how mixed-use projects are evolving,” said Josh Dix, Principal at High Street Residential and lead on the multifamily portion of 400H. “The different pieces of this project were designed to complement one another and various types of users. Our residential, office and retail tenants will all benefit from coexisting in a thoughtfully designed urban community.”
CBRE will oversee property management for 400H. John MacDonell and Mimi Portratz with JLL are handling office leasing for the project and John Koonce with York Properties will curate the retail leasing. More information of the project can be found at www.400hRaleigh.com and www.Live400H.com.
About Trammell Crow Company
Trammell Crow Company (TCC) is a global commercial real estate developer and wholly-owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of December 31, 2022, TCC had $16.9 billion of projects in process and $12.9 billion in its pipeline. It employs 700 professionals in 27 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial/logistics, healthcare, life sciences and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.
About High Street Residential
High Street Residential, the residential subsidiary of Trammell Crow Company, specializes in the development of multifamily housing. We have a deep background in urban, infill mixed-use residential development, as well as the redevelopment or repurposing of existing facilities. In the last 15 years, the firm has completed over $2.7 billion worth of development with a current pipeline of over 4,500 units.
About AECOM-Canyon Partners
AECOM-Canyon Partners, a joint venture partnership between AECOM Capital, the real estate investment arm of global infrastructure firm AECOM, and Canyon Partners, LLC, a global alternative asset management firm, provided joint venture equity capital as well as best-in-class construction expertise to the project. AECOM-Canyon Partners was established to develop large-scale, institutional quality commercial real estate projects in top U.S. markets. In addition to capital, AECOM-Canyon Partners provides best-in-class design, construction management and engineering expertise as well as credit support for its development partners. For more information, visit https://www.aecomcanyon.com/.