Business

Belk signs 15-year lease on Tyvola Road corporate offices

A fountain at the Belk Headquarters at LakePointe at the interscetion of Yorkmont and Tyvola Roads.
A fountain at the Belk Headquarters at LakePointe at the interscetion of Yorkmont and Tyvola Roads. The Charlotte Observer

Charlotte-based Belk has just signed a 15-year lease for its corporate headquarters on Tyvola Road.

The department store chain is moving some of its corporate employees from one of its buildings at 2801 W. Tyvola into a consolidated 475,000-square-foot space it already partially occupies across the street, spokeswoman Jessica Graham told the Observer. Several support functions had been in the building it’s vacating, including human resources and finance.

Movement at the retailer’s corporate office is unrelated to the fact that Belk is under new ownership, Graham said. In December, Belk sold itself to New York private equity firm Sycamore Partners for $3 billion.

Space is available at that consolidated space because other tenants vacated, she added, not because Belk employees left.

“Our corporate associate numbers have not changed,” Graham told the Observer in an email. The retailer has about 1,400 corporate employees.

The company will be upgrading its consolidated space to make it “more reflective of our brand,” Graham said, and adding some amenities, including a fitness center.

Belk’s headquarters include an east and west portion that were owned by two different property managers until earlier this year, the Observer reported in January. Inland Private Capital Corp., which owned the east portion, sold its part to Miami-based real estate investor Samuel Jacobson. Inland had said the property had not turned out to be a solid investment.

Graham confirmed that Jacobson is Belk’s new landlord.

Katherine Peralta: 704-358-5079, @katieperalta

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