June 8, 2023

This paid piece is sponsored by Pendar Properties.

There’s little remaining available space at the expanded Cherapa Place, though the development has room for retail and limited office leases.

“The Bancorp building, our newest office and condominium building, filled quickly with office tenants and only has one condo remaining,” said Anne Haber, co-owner of developer Pendar Properties.

“We’re excited to now enhance our focus on the first-floor available space, where we think there are wonderful opportunities for a restaurant along with we’re open to multiple options.”

The first floor offers up to 30,000 square feet that can be designed for a variety of tenants. 

“This floor has amazing, sweeping river views, with beautiful deck opportunities, so we’d love to see a business that can take full advantage of that,” Haber said.

“That’s why we can envision a bar and restaurant in the space so easily. However, the layout of the building also can be an option for other retail or even office, so we encourage anyone interested in exploring those possibilities to reach out.”

Along Reid Street, “we think there’s strong opportunity for retailers,” Haber said. “So we’d like to see some of the first floor develop as retail space that can serve the development. Whichever businesses locate in this building will enjoy a built-in clientele of office workers and hundreds of residents living in the Cherapa development and nearby downtown.”

The building is served by underground parking, and the development will connect to the bike trail, providing further easy access for tenants and guests.

“Floors three through eight are full with office leases, and we have about 10,000 square feet remaining on second for an office user, though we’re hearing from interested businesses in that space as well,” Haber said.

The building has attracted a strong mix of professional offices, including anchor fintech company The Bancorp, longtime accounting firm Eide Bailly LLP, interdisciplinary design and engineering firm ISG and impressive media tech company MarketBeat.

“These businesses are all thinking of recruitment and retention in making their move,” Haber said. “It’s been a no-brainer for them when they consider the environment this is going to provide to their employees.”

As newly built space, there are many opportunities for customization, she added.

“As designs are coming together, what these tenants are doing for their offices is amazing,” Haber said.

All Cherapa tenants will have access to the development’s two-story interconnect, which bridges the original Cherapa office building with The Bancorp building and provides indoor-outdoor meeting and entertainment space.

“Additionally, as the campus comes together, the expansive courtyard will be a wonderful amenity for those who work and live here,” Haber said.

Not sure about taking on the build-out of a new office? The original Cherapa building has a rare available space.

“We hardly ever have a ready-to-go office in this development, but we do currently have one that is built out and ready to move in,” Haber said. “Sometimes, tenants find the building and planning of an office isn’t something they want to take on, so this is a wonderful option for someone who wants a professional office that can be occupied immediately.”

The available space is about 4,800 square feet on the fifth floor and includes an open work area, eight perimeter offices, two conference rooms, a break room and a workroom.

“There are beautiful, large windows in this space, plenty of parking for employees, and as a tenant of Cherapa Place, you’ll also enjoy all the amenities coming to the broader development,” Haber said.

To learn more about opportunities at Cherapa Place, click here or contact [email protected].

With one condo left, Cherapa Place opens up pre-leasing new building