The company's buildings, totaling about 60,000 sf, are meant to compliment other developments of shops and restaurants in the pedestrian-friendly area. The company's first three buildings are 100% occupied. The fourth, a two-story, 18,000-sf building, is under construction and should be open by September.
First Colony is known for targeting medical offices and service businesses. The strategy is to build class A space one building at a time near growing residential and commercial areas. The Lake Norman area is also being discovered by other office developers. The north Mecklenburg market consists of about one million sf, or 3.3% of the county's total multi-tenant space.
Lake Properties recently revealed plans for Cornelius Village Center, a 17-building, mixed-use development that will include around 250,000 sf of offices, shops and residential units on roughly 13 acres.
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