New Forum Partners has announced its latest acquisition of The Design Center at Lake Norman, a 71,352 square-foot flex office park located in Mooresville, North Carolina. Local real estate firm New Forum, Inc. launched the dedicated platform, New Forum Partners, focused exclusively on new development and acquisitions in Summer 2018.
The Design Center at Lake Norman was originally constructed in the 1940’s. The building served as a manufacturing facility for the Troutman Shirt Factory. In recent years, the mill was retrofit by previous owners Paul and Roz Streeter to accommodate office and warehouse users. “The demand for creative office space across the entire market coupled with the strong in-place tenancy in a fast-growing community perfectly aligned The Design Center at Lake Norman with our objectives,” said William Hodges, Managing Partner at New Forum Partners, “We enjoyed working with the Streeters throughout this process and are excited about New Forum Partners expanding our company’s presence into a new submarket in Mooresville.”
New Forum Partners is currently seeking tenants to complement the existing tenant mix and hope to attract businesses seeking a unique creative office option in the growing Mooresville market.
Matt Smith at CBRE represented the sellers of The Design Center at Lake Norman, Paul and Roz Streeter. Grant Keyes at Cushman & Wakefield will handle leasing for the Design Center at Lake Norman.
About New Forum Partners
Founded in 2018 to capitalize on New Forum’s development experience in an opportunistic real estate market, New Forum Partners primary focus is new development opportunities with additional lines of business in third party, fee-based development as well as acquisitions.
About New Forum
Based in Charlotte, New Forum is a real estate development, management and operating firm with a portfolio that includes office, retail, hotel, medical, multifamily and senior living. The company specializes in mixed-use communities that create a sense of place such as Ayrsley, a master-planned development in Steele Creek that includes more than two million square feet of office and retail space, four hotels, single-family homes, luxury apartments, restaurants and a 14-screen movie theater. For more information about New Forum visit www.newforum.net.