Apr 2, 2024 - Business

91-acre Centene office campus has a buyer

Centene office campus

Credit: LS3P

Vanguard bought the 91-acre Centene office campus in north Charlotte for $117 million, according to county records.

Why it matters: For nearly two years, it's been unclear who would own and occupy the sprawling facility, designed for one tenant, near UNC Charlotte.

  • The 700,000-square-foot office would drag down University City's already-high office vacancy rate if left empty.

Catch up quick: Missouri-based insurance giant Centene called off plans in 2022 to establish a new East Coast headquarters and tech hub here as many of its employees continued to work remotely.

  • Centene previously said it planned to spend $1 billion on the campus.

Zoom in: Vanguard, a Pennsylvania-based investment management company, employs more than 2,400 people in the region across multiple offices.

  • The company will consolidate its local operations at this new campus, CBJ reported.
  • The facility includes collaboration spaces, a conference center, a full-service cafeteria, outdoor eating and walking areas, EV charging stations and a fitness center.

What they're saying: Jennifer Manry, principal of corporate systems in IT and Charlotte site co-lead for Vanguard, lauded the property as a "brand-new, modernized campus that maximizes the value of in-person collaboration and reinforces our commitment to Charlotte as a hub for purpose-driven talent."

What's next: The campus at 2405 Governor Hunt Road is expected to open in late 2025.

  • Vanguard will retrofit the space with its security, technology and branding, a spokesperson tells Axios.

Editor's note: This story has been updated with the latest details.

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