CHARLOTTE | Development Summary

[Hunt55]

[IMG]http://[url=https://flic.kr/p/2ptwetV][/url]Untitled by Steve Hunt, on Flickr[/IMG]


2nd crane tower has been installed

[Hunt55]

[IMG]http://[url=https://flic.kr/p/2ptwXS4][/url]Untitled by Steve Hunt, on Flickr[/IMG]

E Fourth St. & S Brevard St.

[3rd&Brown]

Originally Posted by ChiND

It’s great to see huge cities like Columbus, Indy, Milwaukee, and Charlotte grow even bigger. I wonder if these cities will displace NY, LA, and SF as the “major” US cities.

Lol what?

[Hunt55]

[IMG]http://[url=https://flic.kr/p/2ptwXRT][/url]Untitled by Steve Hunt, on Flickr[/IMG]

View from Carson & S Church St.

[randalls]

Thank you for the continued updates on these @Hunt55

[Hunt55]

[IMG]http://[url=https://flic.kr/p/2pzGfE9][/url]Untitled by Steve Hunt, on Flickr[/IMG]

[Hunt55]

Happy to do it @randalls. I'm still trying to get more traction on this thread.

[Hunt55]

[IMG]http://[url=https://flic.kr/p/2pzA7vo][/url]Untitled by Steve Hunt, on Flickr[/IMG]

[IMG]http://[url=https://flic.kr/p/2pzGPFv][/url]Untitled by Steve Hunt, on Flickr[/IMG]

[IMG]http://[url=https://flic.kr/p/2pzEzsF][/url]Untitled by Steve Hunt, on Flickr[/IMG]

[IMG]http://[url=https://flic.kr/p/2pzA7vt][/url]Untitled by Steve Hunt, on Flickr[/IMG]

[Hunt55]

[IMG]http://[url=https://flic.kr/p/2pzLXrS][/url]Untitled by Steve Hunt, on Flickr[/IMG]

[Hunt55]

[IMG]http://[url=https://flic.kr/p/2pAbfi2][/url]Untitled by Steve Hunt, on Flickr[/IMG]

[Hunt55]

@randalls post:

From Axios Charlotte:

"Work is underway on a 23-story, 370,000-square-foot office building. There will be retail and restaurants on the ground floor and a 900-space parking garage on levels two through 10.

Who: Florida developer Stiles and California real estate firm Shorenstein

Where: Like the name says, 110 East Blvd.

Timeline: The project is on track, nearing the mid-point in construction. It will be ready for occupancy in 2024.

The intrigue: The glass-wall building is uniquely positioned directly on the East/West light rail station platform."



[/QUOTE]


@randalls - i think the wood planks on the facade look better than planned

[IMG]http://[url=https://flic.kr/p/2pAmxq5][/url]Untitled by Steve Hunt, on Flickr[/IMG]

[LAsam]

^Scary to have 370K sq ft of office under construction in the current market if you're a developer. Unless there's significant preleasing in place, I'd imagine the lender is nervous as well. This is probably one of the few office towers under construction in the US right now. We have one in LA I'm aware of in Century City, but it's preleased CAA and a financial advisory firm.

[Dale]

Originally Posted by LAsam

^Scary to have 370K sq ft of office under construction in the current market if you're a developer. Unless there's significant preleasing in place, I'd imagine the lender is nervous as well. This is probably one of the few office towers under construction in the US right now. We have one in LA I'm aware of in Century City, but it's preleased CAA and a financial advisory firm.

Surprisingly, little West Palm Beach has several office towers planned or u/c.

You’re right though, it’s a tough market for office.

[Altoic]

Originally Posted by Hunt55

@randalls post:

From Axios Charlotte:

"Work is underway on a 23-story, 370,000-square-foot office building. There will be retail and restaurants on the ground floor and a 900-space parking garage on levels two through 10.

Who: Florida developer Stiles and California real estate firm Shorenstein

Where: Like the name says, 110 East Blvd.

Timeline: The project is on track, nearing the mid-point in construction. It will be ready for occupancy in 2024.

The intrigue: The glass-wall building is uniquely positioned directly on the East/West light rail station platform."

@randalls - i think the wood planks on the facade look better than planned

[IMG]http://[url=https://flic.kr/p/2pAmxq5][/url]Untitled by Steve Hunt, on Flickr[/IMG][/QUOTE]

I like the podium, very textured. The wood is a nice touch too

[jtown,man]

Originally Posted by LAsam

^Scary to have 370K sq ft of office under construction in the current market if you're a developer. Unless there's significant preleasing in place, I'd imagine the lender is nervous as well. This is probably one of the few office towers under construction in the US right now. We have one in LA I'm aware of in Century City, but it's preleased CAA and a financial advisory firm.

I saw an article yesterday ( I know, you can find an article for anything you think is true) that stated new offices are actually being leased out quite well. Its the older offices suffering.

[LAsam]

Originally Posted by jtown,man

I saw an article yesterday ( I know, you can find an article for anything you think is true) that stated new offices are actually being leased out quite well. Its the older offices suffering.

There's definitely some truth to that. Newer vintage in prime locations are still leasing reasonably well as tenants flee to quality from older building in less desirable areas. This tower looks like it's outside the CBD a bit... is this a prime location where it is located?

[Dale]

Is some of the older inventory being converted to residential ? It’s certainly a North American trend.

[Hunt55]

Originally Posted by LAsam

There's definitely some truth to that. Newer vintage in prime locations are still leasing reasonably well as tenants flee to quality from older building in less desirable areas. This tower looks like it's outside the CBD a bit... is this a prime location where it is located?

Yes, it's in the South End submarket, just outside the CBD.

[Hunt55]

Originally Posted by Dale

Is some of the older inventory being converted to residential ? It’s certainly a North American trend.

The Charlotte city developers and planners are just now exploring this option with the older towers in uptown Charlotte. I think it will be several years before Charlotte sees this type of transition and development. I am excited for it to happen, hopefully sooner rather than later.

[Hunt55]

[IMG]http://[url=https://flic.kr/p/2pCobNB][/url]Untitled by Steve Hunt, on Flickr[/IMG]