The Keith Corp is planning renovations to the four-story office building at 5825 Carnegie in SouthPark, with the work expected to wrap up in the second quarter of 2027. The work is being designed to court tenants looking for spaces between 10,000 and 18,000 square feet.
The Charlotte Business Journal reported plans to renovate the building. The Keith Corp is a privately held, full-service commercial real estate firm headquartered in Charlotte, according to The Keith Corporation, which also states the company has developed retail, office, industrial, healthcare, mixed-use and even airplane-hangar properties over the years.
By the company's own account, its portfolio spans more than 57 million square feet of development and includes over 510 projects worldwide, per the same company page. That scale gives some context for the company's development experience as it plans renovations at a SouthPark office building.
Why SouthPark Office Space Is in Demand
The timing lines up with a broader uptick in Charlotte's office market. The city recorded 660,589 square feet of positive net absorption in the second quarter of 2026, according to a Colliers market report, pushing vacancy down to 16.0 percent — the lowest level the firm had recorded since late 2023.
Colliers attributed much of that momentum to continued demand for high-quality office space, which drove occupancy gains across several major submarkets. The city's central business district alone accounted for more than 609,000 square feet of that positive absorption, the report notes, while market-wide asking rents averaged $34.24 per square foot. In SouthPark specifically, top-tier Class A assets were commanding rents above $45.00 per square foot in the same quarter, the Colliers data shows — a premium that helps explain why an office tower in the submarket might be worth a significant renovation bet.
A Conflicting Vision for the Same Site
Not all the publicly available planning materials point in the same direction, however. A SouthPark Community Partners development page describes a very different future for the same 5.5-acre site: plans calling for up to 380 multifamily units and 8,000 square feet of retail, replacing the existing office building and its surface parking, according to SouthPark Community Partners. It's unclear how that redevelopment concept squares with The Keith Corp's newly announced renovation plan for the same address, and nothing in the available records clarifies whether one supersedes the other.
Other SouthPark Office Towers Are Getting Facelifts Too
5825 Carnegie isn't the only SouthPark office property getting fresh investment. Crestlight Capital, which paid $192.5 million for SouthPark Towers at 6000 and 6100 Fairview roads back in May 2022, has its own plan to spend more than $20 million remaking the now-rebranded Towers at SouthPark, according to Barringer Construction. That renovation includes gutted and expanded lobbies, a new 4,000-square-foot tenant lounge and a renovated 1,500-square-foot fitness center, per the same report, at a complex that totals roughly 526,600 square feet and is already close to 80 percent leased.
Crestlight has also pursued additional density on its site, filing a rezoning petition back in July 2022 that would allow more than 150,000 square feet of mixed-use development if approved, Barringer Construction's account states. Between that project and The Keith Corp's newly announced plans for 5825 Carnegie, SouthPark's office stock is seeing fresh capital flow in just as the broader Charlotte market tightens.
