CBRE Awarded Office Leasing and Management Assignment for Water Ridge Office Park

CBRE has been awarded the exclusive leasing, property management and project management assignment for Water Ridge, an 11-building office park totaling approximately 865,000 sq. ft. of Class A office space in Charlotte’s Airport/Southwest submarket.

The CBRE team, led by Joe Franco and Kris Westmoreland, will represent the property on behalf of ownership, New York Life.

“Our full CBRE team is extremely excited to expand our relationship with New York Life,” said Joe Franco, Senior Vice President at CBRE. “Water Ridge has always been known as a premier office park and we look forward to growing the already impressive tenant roster. Additionally, we are anxious to share more about New York Life’s plan to continue enhancing the amenity offering for their customers.”

Water Ridge, situated at the corner of West Tyvola Road and North Falls Drive, is located a few miles from Charlotte Douglas International Airport and near the Uptown and Southpark areas. The office park features a tenant lounge, multiple fitness centers with locker rooms, outdoor picnic areas and walking trails throughout the scenic campus. Available space opportunities at Water Ridge range from small boutique offices to full floor and larger. While most of the buildings in the office park have recently been renovated, ownership is planning additional interior and exterior upgrades over the next two years.

“Our future plans involve investing in exciting interior and exterior upgrades to continue ensuring Water Ridge is the most compelling place for tenants to office in Southwest Charlotte,” said Kelly King, Director at New York Life Real Estate Investors. “We plan to focus on building out a spec suite program to better meet our tenants’ needs as well as look for opportunities across the office park to elevate the tenant experience with additional programming and create an onsite experience that is exciting for Water Ridge employees.”

About New York Life Insurance Company
New York Life Insurance Company (www.newyorklife.com), a Fortune 100 company founded in 1845, is the largest(1) mutual life insurance company in the United States and one of the largest life insurers in the world. Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments, and long-term care insurance. New York Life has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies.(2)

(1) Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 5/23/2022. For methodology, please see http://fortune.com/fortune500/.

(2) Individual independent rating agency commentary as of 10/18/2022: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).

About New York Life Real Estate Investors
New York Life Real Estate Investors is a division of NYL Investors LLC, a wholly-owned subsidiary of New York Life Insurance Company. For more information please visit: www.nylinvestors.com

New York Life Real Estate Investors is a full service, fully-integrated real estate enterprise with more than 180 professionals. The division has market-leading capabilities in origination, underwriting, and investment in real estate equity products and related debt, including real estate equity investments, commercial mortgage loans and commercial mortgage backed securities. With $67.7 billion in assets under management as of December 31, 2023(1) New York Life Real Estate Investors is actively seeking to acquire additional properties throughout the U.S.

(1) Real Estate Investors AUM of $67.7B is gross and includes AUA ($866M) as of 12/31/2023. Net AUM for Real Estate Investors is $66.9B as of 12/31/2023.