R
.E. Mason, a leading industrial automation and process control provider, is relocating its headquarters to University Research Park's Three Resource Square after 80 years in the Lockwood neighborhood of Charlotte. The company has signed a 10-year lease for 64,000 square feet at 10815 David Taylor Drive, with options for two additional 10-year renewals. California-based Praelium Commercial Real Estate purchased the building for $21 million in 2022.

    The new space will accommodate R.E. Mason's 135 employees and feature extensive upgrades to foster collaboration among staff. According to John Tennant, president and CEO, the relocation will facilitate more teamwork and innovation. Legacy Real Estate Advisors represented R.E. Mason in the lease transaction, while CBRE represented the landlord.

    Three Resource Square is a thriving business hub that also hosts Republic Services, Resolvion, and U.S. Rep. Alma Adams' district office. Charlotte's office market is experiencing record-high vacancy rates, with 24.7% of available space unoccupied due to weak demand and new speculative developments. The city's development pipeline has slowed, with a 39% decrease in projects compared to last year.