Crescent Communities and Nuveen Real Estate announce construction start for new food hall, Monarch Market, at One Independence Center 

Listen to this article

Crescent Communities in partnership with Nuveen Real Estate, announces commencement of construction on Monarch Market, an 18,000-square-foot food hall at One Independence Center. The space, which will be operated by Hospitality HQ, will offer 12 to-be-announced food stalls, one full-service restaurant, three bars (including one fully outdoor concept along N. Tryon Street), and private event space. Hospitality HQ is currently accepting inquiries for prospective food and beverage tenants for the space, slated to open later this year. 

Monarch Market marks the culmination of a three-year, $33 million dollar reimagining of the building at the iconic corner of Trade and Tryon by Crescent Communities and Nuveen. The partnership has repositioned the asset to become the premier workplace in Uptown Charlotte, with a deliberate focus on creating a destination for employees to engage and for businesses to attract and retain customers and talent. The completed One Independence Center features 26,000 square feet of ground floor retail and a variety of move-in ready office opportunities for companies of various sizes.  

“Right in the heart of Charlotte’s busiest business neighborhood, Monarch Market is positioned to bring unmatched dining offerings and entertainment to both One Independence Center tenants and all Charlotte residents,” said Brendan Pierce, President of Commercial at Crescent Communities. “We’re excited to work alongside Hospitality HQ to provide those with offices in One Independence Center with a myriad of top-notch food and beverage options, perfect for both business lunches and post-work drinks. The atmosphere in Monarch Market will be unlike any other in Charlotte, and it is our hope that this space will provide those in the area – and in the building – with a destination that caters to every entertainment and dining need, from day to night.” 

Set to bring an unprecedented one-stop destination to Charlotte’s central business district, Monarch Market will provide One Independence Center tenants with high-quality and convenient lunch and dinner options without ever having to leave the building. The market will fill a void in the Uptown entertainment scene, offering pre- and post-event food and drink options to visitors of the nearby Blumenthal Theatre, Spectrum Centre, Truist Field, Discovery Place and Bank of America Stadium. 

“Charlotte’s growing educated workforce and attractive demographics is something we strongly believe in,” said Chad Phillips, Global Head of Office at Nuveen Real Estate. “The traditional workplace in the U.S. is evolving, and we see One Independence Center and Monarch Market as the embodiment of that future, offering dynamic environments and the state-of-the-art amenities that employees are looking for.” 

“We are proud to provide a future home to up-and-coming culinary talent, many of whom are local and launching their first brick and mortar locations or taking the chance at expanding their business with us as vendors at Monarch Market,” said Akhtar Nawab, Chef & Co-Chief Executive Officer and Founding Partner at Hospitality HQ. “We look forward to taking this journey with them, incubating local talent and becoming part of this incredible community.” 

Monarch Market will offer four distinct areas for corporate and group events, including an intimate cocktail lounge with outdoor space and vistas of Tryon Street; semi-private space which can be reserved; and an indoor/outdoor bar. Food delivery and access to the tenant lounge will also be available for those who work in One Independence Center.  

“This space will provide an opportunity for One Independence Center to be a true food destination in the heart of Uptown Charlotte, one that will not only be attractive for the daytime worker, but a unique destination for nights and weekends as well,” said Charles Thrift, Founding Partner of Thrift Commercial Real Estate. 

Collaborators for Monarch Food Hall include Hospitality HQ (operator), Eimer Design (architect and interiors), JE Dunn (general contractor), Cushman & Wakefield (consulting services), Nuveen Real Estate (equity), PNC Bank, U.S. Bank and First National Bank of Pennsylvania (financing).