The two buildings will total 300,000 sf and are the first large-scale office development in the area. They will be part of Navare's planned $135 million Glenwood development, a mixed-use complex that includes residential, office and retail.
Novare, which bought, renovated and converted the historic Biltmore hotel into office space, plans to begin construction on the office buildings once a lead tenant signs on. Rental rates in comparable areas are $12 psf to $15 psf.
The residential component of Glenwood will include 34 single-family homes and 550 condos, townhomes and apartments. The homes will range from $110,000 to $300,000. The apartments will rent for about $1,000 per month.
Novare president Jim Borders is seeking a developer to buy and build the retail site of 6.5 acres.
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