CASE STUDY

Innovation Park Charlotte

• 1.8 Million SQFT

• 200 Acres 

  • Marketing Strategy
  • Environmental Design
  • Digital & Print Campaigns
  • Creative & Copywriting
  • Public Relations
  • Web Design
  • Video Production
  • Event Marketing
  • Real Estate Marketing

The Project No One Wanted

Purchased in foreclosure for $41.6 million and later sold for $270 million, this is the story of how Wrathbone Marketing radically reimagined a nearly vacant, 30-year-old former IBM campus into Innovation Park, the most monumental office renovation in Charlotte’s history. Transforming 2-million square feet of plight into a thriving workplace for 7,000 people.

How’d we do it? Keep reading to find out.

The team at Wrathbone made all the difference in the creation and success of Innovation Park.

I’ve worked with many marketing firms over the decades, and some of them were very creative; but what sets Wrathbone apart from ALL others is uninhibited creativity paired with practical problem solving. Wrathbone wasn’t just creating great graphics and marketing materials, they were in the trenches with us, engaging with prospective tenants and working side-by-side with our entire team to create projects that activated our tenants’ employees. In so doing, over the years our partnership with Wrathbone expanded to Chicagoland and metropolitan Washington, DC, encompassing 7 million square feet of office and flex. Within 12 months of entering a new submarket, our occupancy rates far exceeded competing projects–without exception. Wrathbone wasn’t a vendor, they were our partner in success! I cannot say that strongly enough.

Chris Epstein

President, BECO South

We Love a Good Challenge

This success story begins in 2010 in the University City area of Charlotte, NC. The developers of the property that would become Innovation Park Charlotte were skilled in rehabbing neglected office properties and filling them with tenants, but the 1.8 million SQFT former IBM campus they had just purchased was the largest property in their portfolio by far. Wrathbone was asked to be the marketing arm of Innovation Park, creating a top-tier, unparalleled office experience to draw in Charlotte’s biggest office players and make the investment a profitable one. This would be no small feat.

The Road to a Fresh Start

With the goal of giving Innovation Park’s office tenants an energized on-campus experience, Wrathbone designed environments infused with custom branding. We took great care in creating modern, inviting spaces where people could relax, work, or have casual meetings and brainstorm sessions.

Creating Buzz in the Queen City

 Once the campus was revamped, Wrathbone created a buzzy PR campaign to generate excitement around Innovation Park. We planned exclusive events to get Charlotte’s most influential brokers and decision makers on campus and immersed in the Innovation Park experience. We welcomed new tenants to campus with a bang, utilizing flash mobs, curated campaigns, and numerous surprises to kickstart their workplace and continue to generate publicity for the property. Our marketing and PR efforts were impactful, notable companies quickly began leasing space and calling Innovation Park home.

Building Community Through Shared Experiences

Our next mission was to craft unique experiences to delight and engage Innovation Park’s tenants. These included a full-service bistro, coffee shop, pop-up markets, fitness classes, and educational programs. Wrathbone promoted philanthropy through local schools, food pantries, and others to support the local community. We guided Innovation Park in establishing deep ties at the local level, driving opportunities for businesses and organizations in the area.

The Numbers Tell the Story

Innovation Park became a landmark property in Charlotte’s office market with a tenant roster that included Allstate, Wells Fargo, and AXA. We were able to consistently add new experiences to the bustling campus and support the leasing team in bringing Innovation Park to 97% occupancy by 2016. The developer purchased the property for $41.2 million in 2010 and sold it in 2019 for $270 million. We call that a success.