July 15, 2024 (CHARLESTON, SC) – Lee & Associates Charleston, a leading commercial real estate brokerage firm in Charleston, SC has successfully facilitated a landmark office lease for Northwestern Mutual in downtown Charleston. The financial services company will occupy 11,025 square feet at The Morris, a state-of-the-art office property located at 1080 Morrison Drive.
In a market characterized by low vacancy rates in high-quality office space and an extremely limited new construction pipeline, this deal represents a strategic move for Northwestern Mutual as they look to the future of their Charleston operations.
“This new space aligns perfectly with our long-term vision,” said Chrys Kanos, Managing Director of Northwestern Mutual’s Charleston office. “We’re investing in an environment that will not only attract top talent but also provide our team with a workspace that reflects the vibrancy of Charleston. The Morris offers the amenities and location that our current and future employees desire, positioning us at the heart of the city’s dynamic atmosphere.”
The Morris, built in 2022, is situated in a prime location in Charleston’s North Morrison (NoMo) corridor, within walking distance to dozens of popular restaurants and entertainment venues. The proximity to these desirable amenities was a key factor in Northwestern Mutual’s decision to relocate to The Morris.
“Charleston’s unique blend of history, culture, and modern amenities makes The Morris an ideal location for both our employees and clients,” Kanos added. “This move reinforces our commitment to the Charleston community and our confidence in the city’s continued growth and appeal.”
Commercial real estate brokerage firm Lee & Associates Charleston played a crucial role in securing this highly sought-after space in a competitive market.
“We understood Northwestern Mutual’s vision and the urgency of the current market conditions for higher-quality office space” said Paul Hartley, Principal at Lee & Associates Charleston. “Our team worked diligently to identify and secure this optimal space quickly. In a market where premium office space is scarce and demand is high, acting swiftly was paramount to securing this opportunity and closing this deal.”
Northwestern Mutual will transition to their new space in February 2025. In the interim, Paul’s team of Bob Nuttall and Hunter Hartley of Lee & Associates Charleston is managing the potential sublease of Northwestern Mutual’s current 5,100 square foot office space.
This transaction underscores the ongoing demand for high-quality office space in Charleston’s downtown area, despite broader market uncertainties. It also highlights the city’s continuing appeal as a destination for businesses looking to attract and retain top talent.
About Lee & Associates Charleston
Lee & Associates Charleston is a comprehensive Charleston, SC commercial real estate firm serving a select clientele with extensive expertise in Office, Retail and Industrial real estate, the most complete line of commercial real estate services; and decades of combined experience in the Charleston commercial real estate market. Lee & Associates provides brokerage, development and property management with a firm commitment to customer service. We get to know each client’s business and specific needs. And we meet those needs with discipline, integrity and a genuine commitment to success. In everything we do, Lee & Associates places “People First, Properties Second.” Learn more about how Lee & Associates can serve your real estate needs at www.lee-charleston.com