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Co-working company buys building on Fourth Street

A company that leases co-working spaces and offices to freelancers and entrepreneurs bought an uptown building at 227 W. Fourth St. this week and plans to renovate and restore the historic buidling.

Chicago-based Level Office (http://leveloffice.com/) closed on the purchase Thursday.  Real estate records show the company paid $2.1 million for the building, which it bought from Charlotte-based WPW Investments.

Level plans to begin renovating the 25,600-square-foot building immediately, and will start leasing offices in August.

"Entrepreneurship and small businesses are thriving in Charlotte, and we're excited to help these growing firms with flexible, budget friendly workspace," said Level Office founder Bill Bennett, in a statement.

The buidling was constructed in 1930 and was a Ford dealership at one point.  Level plans to restore some of the building's historic features, such as exposed interior columns and the ceiling from its time as a dealership.

Private offices will start at $399 a month and co-working desks will start at $299, said Level, which also owns office space in Chicago, Houston and Dallas.  Tenants will have access to lounge areas on three floors, an espresso bar, meeting rooms, on-site administrative support and high-speed fiber-optic Internet.

Brokers Kenny Smith and Holly Alexander of New South Properties of the Carolinas represented Level, while Dave Van Hellemont of Properties South represented the seller.