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Legacy Union (former Charlotte Observer redevelopment)


Missmylab4

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Goldman Sachs is the financing partner for Lincoln Harris on this and on Capitol Towers in southpark. Bank of America has a long relationship with Lincoln Harris with the Bank of Corporate Center being a joint project for them. I think it will be great to have a Bank of America sign on a tower looming over the stadium with their name on it. 

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Goldman Sachs is the financing partner for Lincoln Harris on this and on Capitol Towers in southpark. Bank of America has a long relationship with Lincoln Harris with the Bank of Corporate Center being a joint project for them. I think it will be great to have a Bank of America sign on a tower looming over the stadium with their name on it. 

I guess we will see. Something is certainly afoot. My source is super reliable. Got some other nuggets about other projects that I gotta confirm before sharing.


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As for this south side north side discussion on Tryon Street  I think that is old thinking. Since the city wants the north end of uptown to be more mid rise buildings more residential I think an office building on the southside of uptown makes a lot of sense. The stadium with national tv coverage, signage opportunities from the stadium and 277 loop and great visibility on the hottest street in town (Stonewall) .  BofA has finally gotten its financial footing back now and as I stated before if you want to eliminate some jobs announce a transfer of jobs to new southern city like Charlotte then rehire at lower salary levels especially compared to lets say a New York City. Just my speculation here but seen it done many times. 

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This is interesting to say the least. Merrill Lynch Bank of America has a contraction clause basically where they can get out of leased space (20% of the space that they have in their 1.8 Million sq ft campus in New Jersey) and that equals 360,000 sq ft very close to this amount mentioned. Not to mention this suburban complex is very traditional in its architecture style much like the rumored Lincoln Harris tower.  This contraction clause is one time and in 2019.  How long would it take to build a new high rise perhaps 2 years if demo work as been done? Just putting together some puzzle pieces and thinking out loud. http://cwmetroarea.listinglab.com/110011501200MerrillLynchDrive/ Or I could be totally off base.  Should be a very exciting 2017. 

You know your crap. Building would be occupyable by 1st or 2nd qtr 2019 at the EARLIEST.


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10 minutes ago, ricky_davis_fan_21 said:


You know your crap. Building would be occupyable by 1st or 2nd qtr 2019 at the EARLIEST.


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and the article states contraction is at Dec. 2019 too.  It sounds like enough time to build it especially if not several layers underground like 300 South Tryon. And the Princeton NJ area has some of the most expensive residential real estate in the east avg home price $711,500. Might be hard to attract millenials to work and live in that area. Makes our uptown apartment prices CHEAP in comparison. https://www.trulia.com/real_estate/Princeton-New_Jersey/

Edited by KJHburg
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On 12/14/2016 at 1:04 PM, kermit said:

Lets hope not. The end of year CBJ is the graveyard of news, a big announcement would be -anywhere- else.

Gonna go ahead and say, my gut feeling, especially after talking to friends in the media, is that CBJ is not going to be putting anything groundbreaking out there today. Maybe some vague insight into the process, but I doubt there are renderings or numbers. 

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2 minutes ago, KJHburg said:

I just read the Business Journal article on Johnny Harris and no news there that I haven't heard before. Just the tower will be starting "soon". 

oh I couldn't even find it. Link?

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4 minutes ago, HopHead said:

What was the significance of today anyways? Was LH supposed to have an announcement? I find it hard to believe, given the street cred of some on this board, that we were waiting on CBJ for more information.

Honestly, for the things we all know, there is a TON we do not. I've only seen renderings and diagrams of the office tower, and than heard third hand from another developer information on the specs/makeup of the project. The office tower takes up a small portion of a GIANT parcel. There is a LOT for us to learn, they have been extremely quiet everywhere. 

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The anchor tenant for this building is in the market already so don't think that is it. But  at the speed they are moving something big is afoot and  will be announced in due time. Remember this is a slow week who knows if the powers at be are even in town maybe they are in the mountains or in Europe.  Lincoln Harris always been one to hold their cards close. Johnny Harris would not announce the details of a new office tower to any paper without the anchor tenants consent and I would expect it would be a big media affair. 

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I don't think HB2 or anything had anything to do with a lack of an announcement today. I don't think it was ever intended to be anything more than "we'll build an office building soon" brief blurb. 

Also still skeptical BoA is/was involved when they have their own land and Lincoln Harris had to lose a huge chunk of their staff because they lost BoA as a client a year or so ago. 

They'll announce when they announce. 

Edited by AirNostrumMAD
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4 hours ago, AirNostrumMAD said:

Also still skeptical BoA is/was involved when they have their own land and Lincoln Harris had to lose a huge chunk of their staff because they lost BoA as a client a year or so ago. 

As far as the land, you make a valid point.  Regarding the other, it is not like LH would turn down the opportunity.  In fact, and I am just speculating here, it is at least feasible that when BofA cut ties with LH this was already in the works.  It would certainly soften the blow to LH to develop this property for BofA (over many years).

On 12/25/2016 at 11:20 PM, KJHburg said:

This is interesting to say the least. Merrill Lynch Bank of America has a contraction clause basically where they can get out of leased space (20% of the space that they have in their 1.8 Million sq ft campus in New Jersey) and that equals 360,000 sq ft very close to this amount mentioned.

 

On 12/25/2016 at 7:50 PM, ricky_davis_fan_21 said:

This weekend I got a confirmation about BofA being part of a new tower uptown, but was told it's not a tower we know about yet... for what it's worth...

Just as follow up on these two comments above, am I following along correctly to understand that it is at least possible that BofA will be partially occupying a yet unannounced building in addition to Merrill Lynch Bank of America occupying the Lincoln Harris project? If so...

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I just don't see BofA going into this project. Why would they anchor a building 6 to 7 blocks away from their current six towers? I was always told the next site they'd build on would be the vacant lot next to Hall House (across from TransAmerica).

Wells Fargo makes far more sense on South Tryon. Or someone we don't yet know about.

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This will be blow your minds what if we are both right! Some of Merrill Lynch B of A goes into Lincoln Harris's project next to a stadium with their name on it and Bank of America starts planning new towers on the North Tryon land as well. Remember Linclon Harris developed Bank of America Corporate Center back in the early 1990s and the fore mentioned relationship of managing their properties.   Merrill Lynch has not really been integrated into the bank as much as previous mergers I think due to  the long recovery of the financial crisis. If you wanted to attract a younger millenial workforce would you do it in a campus out in the New Jersey suburbs of Princeton or in an urban environment like uptown Charlotte?  The signage on any building facing a NFL stadium with national tv coverage can not be underestimated. We shall see but exciting times for Charlotte.  

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