CFA Institute Global HQ
Project Type: HQ Campus Development (Adaptative Re-Use)
Space Use: Office, Meeting, Event
Location: Charlottesville, VA
Project Size: 143,000 SF
Services Provided: Zoning & Entitlements, Design & Construction Project Management
CFA Institute (“CFA”), a global association of investment professionals focused on setting standards for professional excellence, engaged JM Zell to assist with the acquisition and act as its owner's representative for its new Global Operations Center in Charlottesville, VA. The property, notably the historic Patterson Building, is listed on the National Register of Historic Places.
With the advice of JM Zell and other experts, CFA structured the transaction so it could apply for and receive Federal and State Historic Tax Credits. To qualify, JM Zell ensured that the design team carefully adhered to the Secretary of the Interior’s Standard for Historic Rehabilitation and obtained local Board of Architectural Review, Virginia Department of Historic Resources and National Park Service approval. JM Zell also negotiated with an investor to syndicate the Historic Tax Credits.
CFA's adaptive reuse of the building involved significant challenges including fireproofing, electrical and HVAC issues, the incorporation of a monumental connecting stair, window replacement and even the saving of a massive historic tree. The conversion incorporated green demolition recycling practices as part of securing LEED certification. The original hospital uses were successfully converted to 143,000 square feet of modern, sustainable office space. The $33 million project was completed on budget and within the 14-month schedule. The project achieved LEED Gold certification with a design that also reflects CFA’s values of transparency and ethical behavior.
Most recently, CFA re-engaged JM Zell to provide support and management services for a renovation of approximately 36,000 square-feet of existing office space which included Environmental Health and Safety (EHS) upgrades, revitalizing interior finishes for dedicated offices and general work areas, adding a dedicated tenant entry reception area, and the expanding the executive conference center. The project was completed under budget and on schedule within the construction period.
If you are interested in learning more about how JM Zell can assist you in achieving your business and operations goals through real estate, please contact us here.