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zalo

751 West Fourth Street

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The cranes recently came down as the latest office building in downtown Winston-Salem was topped out. It is a 55,000 square foot,five-story building, named 751 West Fourth, featuring Class A space, a rooftop conference room, covered terrace and an exercise facility. The building is across Broad Street from the Wells Fargo operational center, and diagonally across from West End Village condos. BB&T Ballpark is blocks away. John Reece II, managing partner of Commercial Realty, said the building is 65 percent preleased. Reese declined to identify tenants, but said one would be a financial-services company already in the local market, but wanting a downtown presence. At the time the building was announced about a year ago, vacancy rates in downtown Winston Class A Vacancy Rate 4% with the overall Downtown Winston-Salem Vacancy Rate at 7%. This in comparison with other nearby cities CBD vacancy rates of Downtown Greensboro at 12.2% vacant and Uptown Charlotte at 12% vacant.


http://751westfourth.com/

Edited by zalo

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^ Great news for Winston Salem.  

 

Correction though on Charlotte:  our Uptown Vacancy Rate (see pages 4 & 6)  is 8.1%      The 12.1% rate seems to have originated from a 2012 Q3 report which is a bit out of date now.

 

Edited by Urbanity
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A nice anchor for the west side of downtown.  Any news on tenants for this new building?  There is news today of a new Italian bistro being upfitted near this location.

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The first identified tenant in the 80% pre-leased 751 West Fourth Building is the Winston-Salem Foundation.

The foundation’s 24-member staff will relocate to 12,000 square feet of second-floor offices, while 4,000 square feet of third-floor conference center spaces will be open to both the foundation and the community at large.Two nonprofit partners — the ECHO Network and HandsOn Northwest North Carolina — will also have office space. A portion of the third floor will be named the Burress Family Center for Philanthropy, sponsored by John and Mary Louise Burress, and will provide gathering and conference spaces for Winston-Salem nonprofits.

The philanthropic center will serve as a sort of charitable hub where community organizations can meet in Class A space free of charge. “One of our initiatives is bringing nonprofits together, and convening and collaborating,” Fulton said. “So many nonprofits don’t have enough meeting spaces, training spaces, conference spaces.” About $2 million in additional commitments from individuals and families will be used for philanthropy center upfit costs, Fulton said.

http://www.bizjournals.com/triad/news/2014/04/15/winston-salem-foundation-finds-new-downtown-home.html?page=all

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