Business

Prominent Charlotte law firm moving to new building on other side of uptown

The well-known Charlotte law firm James, McElroy & Diehl is moving from Stonewall Street to 525 North Tryon St. after selling its longtime headquarters to a developer this year.

Owner Grubb Properties said the law firm has leased a full floor, just over 32,000 square feet, at the North Tryon site, the octagonal building on uptown’s north side. The building’s selection by James, McElroy & Diehl “validates the emergence of the North Tryon corridor, ” said Joe Dye, executive vice president of commercial at Grubb Properties, in a statement.

“We are excited to move into our new offices at 525 North Tryon next month,” said Catherine Barnes, managing partner of James, McElroy & Diehl.

The law firm sold its building at Stonewall and College streets this summer to Asana Partners for $6.4 million. At the time, Asana managing partner Sam Judd said the the firm was exploring uses for the building, which would likely include some retail. The building is adjacent to the Tryon Place development and 26-story office tower planned by Crescent Communities, which is set to start construction in early 2018.

The building dates to 1902, and has seen use as a stables, several seed and feed stores (Charlotte Feed and Gin, Scott Feed Company), an auto repair shop, a mattress and upholstery company, and a gardening supply company.

Judd couldn’t immediately be reached for more information on Asana’s plans for the building, which will be vacated within a month.

Asana has been on a buying spree since it was founded in 2015 by three former executives from shopping center owner and developer Edens. The new firm has spent almost $85 million acquiring prominent properties in South End and Elizabeth, including the Design Center of the Carolinas, the former Phat Burrito building and the former Southend Interiors building. The company plans to renovate the buildings and lease them to shops, restaurants and creative office tenants.

Ely Portillo: 704-358-5041, @ESPortillo

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