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509 South Tryon | Possible Duke Energy Tower

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It had been a slow two weeks. Seemed like Uptown was in the doldrums.

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6 minutes ago, ricky_davis_fan_21 said:

This, to me, signals the end of the life of the Old Duke Building. I'm sure that'll be sold and likely imploded. 

That and their weird building on College by the convention center 

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11 minutes ago, Jayvee said:

That and their weird building on College by the convention center 

Yep! Time to consolidate a bunch of space. 

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Any guesses as to the scope of the new building ?

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Posted (edited)

6 minutes ago, Dale said:

Any guesses as to the scope of the new building ?

I'd imagine 35 floors

Edited by ricky_davis_fan_21
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Doesn't Duke's requirement to keep Progress jobs in Raleigh end soon??

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They've done drillings and now purchased the land. Could this happen quickly ? I mean LH quickly ?

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Posted (edited)

I'm assuming we could go ahead and create a page for this project/land?

Edited by sclark

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The data center on College is more than likely moving to their new campus in University Research Park where they have acres and acres of land. URP has the same redundant power and fiber sources that uptown has. I remember when I saw the test drilling on one of my walkabouts earlier in the year. Great news and RDF is right Wells Fargo owns DEC and is expanding here quietly not to upset any people by the Bay if you know what I mean.  Yes lets start Duke's YUGE new tower thread to complement the Covfefe Plaza C Observer thread. 

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This is a good recap of where Duke Energy workers are uptown and I forgot about Duke Renewables over at NASCAR  Plaza sounds like DE wants to control their own destiny with a tower they co-own or own outright. http://www.bizjournals.com/charlotte/news/2017/06/07/duke-energy-buys-prime-uptown-real-estate-for-27-5.html?ana=e_ae_set1&s=scroll&ed=2017-06-07&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1496878515&j=78338841

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3 hours ago, ricky_davis_fan_21 said:

I've changed my mind. With all things considered and having a couple conversations. I'm actually going to go bold and say 1M sq feet. 40+ floors. 

• Duke Lease up December 31st, 2019. 
• Wells Expanding, might want to consolidate into DEC and get naming right back
• Agreement to not move jobs from Raleigh to Charlotte ending in a few years
• They could sell their building and land a 526 S. Church for a pretty penny. 4 acres in the heart of 3rd ward.
• Data Center's land lease is ending. 

So much. This could COULD Be big.

This mean's construction would have to begin before the second quarter of next year! 

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34 minutes ago, mpretori said:

This mean's construction would have to begin before the second quarter of next year! 

More like it'd have to start now. lol

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Wow, it would be great if this project kicks off the 2020s the way the Duke Energy Center kicked off the 2010s.  Very much looking forward to seeing what comes of this.  

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Heard from a trusted source:
 
5 stories, stick-built with podium parking. Quick Trip out front.


You forgot beige
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I made the new thread... not sure what to title it. Let me know if there's a better one.

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1 hour ago, AuLukey said:

 

 


You forgot beige

 

I've heard from a trusted source that the height is nothing huge.

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16 hours ago, KJHburg said:

This is a good recap of where Duke Energy workers are uptown and I forgot about Duke Renewables over at NASCAR  Plaza sounds like DE wants to control their own destiny with a tower they co-own or own outright. http://www.bizjournals.com/charlotte/news/2017/06/07/duke-energy-buys-prime-uptown-real-estate-for-27-5.html?ana=e_ae_set1&s=scroll&ed=2017-06-07&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1496878515&j=78338841

This is actually a little surprising to me:

1,400 work out of Duke Energy Center at 550 S. Tryon St.

1,700 work out of 400 South Tryon  

1,900 are at 526 S. Church St.

I mean, I don't know how many floors we, errrrr they, have in the DEC and 400ST, but I figured the DEC number of employees was the highest.

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Duke has over 500,000 sq ft leased at 400 South Tryon and 500,000 sq ft at Duke Energy Center so that is over million sq ft in just those 2 locations. In the original Duke bldg on S Church I doubt that will go anywhere anytime soon. They own it and so it is very cheap space for them. This potential Duke tower (and I do believe it will be one there as Duke is not buying land to hold it) will be an owner occupied building of substantial square feet. Just as Bank of America owns a few key buildings in town Wells does too I think Duke wants to control their own destiny. How many floors that works out to be not sure but it is the majority of 400 South Tryon and not sure in the DEC

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I wonder what the employee base in Raleigh is that is being held hostage by their deal. Depending on the timeframe of that ending (as has been speculated previously) I wonder if this building is in preparation for those jobs or if the majority of those positions are redundant to what is already here.

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I would have a hard time believing that imploding the building at 526 S Church would be economical. Interior updates and a ground level refresh could go a long way towards making it look like less of a hospital. Better to sell it off.

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2 minutes ago, orulz said:

I would have a hard time believing that imploding the building at 526 S Church would be economical. Interior updates and a ground level refresh could go a long way towards making it look like less of a hospital. Better to sell it off.

Its true. Always a market for Class-B office.

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