Prominent NY law firm expands into Charlotte with an uptown tower lease
AI-generated summary reviewed by our newsroom.
- Proskauer opens 12th office in Uptown Charlotte, leasing 8,300 square feet.
- Charlotte team includes four partners from Cadwalader to expand finance practice.
- One South's renovated amenities and location draw new tenants like Proskauer.
A prominent New York law firm is adding Charlotte to its list of office locations, specifically uptown’s One South.
Proskauer, a global firm specializing in business, financial and individual legal services, will call the office tower at 101 S. Tryon St. home beginning around Oct. 6, the firm said in a news release Monday.
Proskaur signed a lease for a little more than 8,300 square feet, taking up about half of the 36th floor.
Proskauer announced last week that it planned to open its 12th office in Charlotte, noting that the city is a major banking center.
The new office will be led by a four-partner leveraged finance team of Ron Lovelace, Patrick Yingling, Jared Zajac and Joey Polonsky.
The crew isfamiliar with Charlotte, having moved to Proskauer from Cadwalader, Wickersham & Taft, another global firm and the fifth largest in the Charlotte area, according to a Charlotte Business Journal database.
The expansion and new hires are part of the firm’s plans to grow its global finance practice in the U.S. and London. Proskauer has over 800 attorneys in offices from Boston to Paris. In the past year, it has added more than a dozen partners to the global finance team.
The Charlotte crew will continue to help serve the firm’s clients, according to Tim Mungovan, chairman of Proskauer.
It’s unclear when and how many other additional people the firm will hire for the Charlotte office, but Justin Breen, co-head of the Global Finance practice, said the city has “some of the greatest finance talent .”
Uptown tower’s renovations, new tenants
Proskauer is the latest tenant to move into the recently renovated One South tower.
Trimont, a commercial real estate loan services provider became the tower’s largest tenant in June when it signed a lease for 67,935 square feet, which spans three floors.
Other move-ins include Dole Food Company, Deriva Energy and Coquette, which will relocate to the tower next year. The French-inspired restaurant will take over a 5,296-square-foot space occupied by Essex Bar & Bistro.
Proskauer will bring the office’s occupancy rate well above 75%.
Choosing One South allows the lawyers to be in the center of uptown and it gives them access to the $13 million amenity-driven renovations, said Trinity Partners’ John Hannon. Trinity leases for One South.
About $7 million was put into creating One South’s third-floor 22,000-square-foot amenity space, called Three. Tenants have access to a cafe, a connection lab with a 110-inch LED screen, gaming and golf simulators and an indoor/outdoor terrace that overlooks Trade and Tryon streets.
Another $2 million was spent on One Athletics, a 30,000-square-foot fitness facility featuring an indoor pickleball court, basketball court and other equipment.
