Automotive Giant, EchoPark, Signs Long-term Lease at DRP’s Latest Cary Development
Posted on November 10, 2021
Cary, N.C. (November 10, 2021) – Dominion Realty Partners, LLC, (DRP) – in coordination with Foundry Commercial – recently announced a long-term lease has been signed with EchoPark Automotive at 2333 Walnut St in Cary, NC. Formerly a car dealership, the property underwent extensive renovations starting in 2020. The 15-year lease covers the entire 133,626-square-foot Class-A property, situated on just over 15 acres in Cary’s vibrant Crossroads mixed-use district. With signalized access on Walnut Street and immediate access to the I-40/I-440/US 1-64 interchange, 2333 Walnut provides unparalleled access to all points of the Triangle.
EchoPark Automotive is the pre-owned vehicle segment of Sonic Automotive, a Fortune 500 company based in Charlotte, which is the fifth largest automotive retailer in the United States. According to Sonic Automotive, the EchoPark subsidiary offers a unique car buying experience for those seeking previously owned vehicles in the 1 to 4-year age range.
In 2019, DRP purchased the property and assigned leasing to Foundry Commercial, a full-service real estate services and investment firm with offices across the Sun Belt. Recent upgrades transformed the property into an innovative, upbeat space characterized by enhanced efficiency, polished concrete floors, loft ceilings, exposed spiral ductwork, and abundant natural light with expansive glass lines.
Additional capital improvements to the property included adding perimeter glass windows, new restrooms, updated landscaping, as well as exterior and façade painting and improvements.
Centrally located along Walnut Street, EchoPark Automotive will enjoy an urban experience driven by a robust amenity base and highly walkable environment. Ideally positioned in Crossroads, one of the region’s top mixed-use destinations, the space benefits from direct access to the area’s top entertainment, retail, and lifestyle destinations.
2333 Walnut is one of many DRP developments in the Triangle. Other recent projects include Residences at Shiloh Crossing, Crabtree Lakeside Apartments, and the Wade III, IV, and V office buildings. Two of the more recent and notable developments in DRP’s portfolio include the 29-story FNB Tower, a $129 million mixed-use, apartment and office tower located between BB&T Ballpark and Bank of America Stadium in Uptown Charlotte that was delivered in July 2021 and 501 Fayetteville Street (FNB Tower) in Raleigh, a 22-story, $118 million mixed-use apartment and office tower that opened in Q4 2019.