Vantage South End - 1100 S Tryon

[KJHburg]

I think it is also a flight to quality and new space and lets face it uptown does not have a lot of new space right now but hopefully LH will start Legacy 4 tower soon. 

Vantage Southend is a great project with all that outside space and balconies it is really ticks all the boxes of a post pandemic office. 

[atlrvr]

2 hours ago, RANYC said:

What's that gurgling sound you hear in city center?

...

  While South End teems with an ever-evolving landscape of entertainment options patronized by its millennial imbibers and revelers, uptown's hotspots endure troubles like defaults, foreclosures, and repossessions.  

 

 

At this point the plural usage is a bit overstating.  Epicenter being the loan example.

As to actual office defaults (as the property type most responsive to tenant departures), we haven't had one of those since 128 S Tryon technically defaulted at maturity in 2017 but sold 3 months later for $5mm above loan balance.  We'll see what happens next year as we've got 2 loans coming due, all with big chunks of vacancy,  301 S College (1 WF) and 201 S College (Charlotte, Plaza).

[RANYC]

1 hour ago, atlrvr said:

At this point the plural usage is a bit overstating.  Epicenter being the loan example.

As to actual office defaults (as the property type most responsive to tenant departures), we haven't had one of those since 128 S Tryon technically defaulted at maturity in 2017 but sold 3 months later for $5mm above loan balance.  We'll see what happens next year as we've got 2 loans coming due, all with big chunks of vacancy,  301 S College (1 WF) and 201 S College (Charlotte, Plaza).

Didn’t think it was worth much debating, but since you’re a stickler for precision apparently, the epicenter is a collection of businesses, entertainment-oriented, right smack dab in the heart of the CBD and for years, touted as the CBD’s focal point of amusement and revelry.

not only is the epicenter as a unified whole in default and foreclosed upon, but a good number of merchants/businesses within the “complex” were first in default in their lease obligations, giving rise to the broader default.  So not overstating at all in my opinion.  I only hope the relevant stakeholders treat this black eye in the heart of uptown as the crisis it is, and act with the sense of urgency required.

Edited February 16, 2022 by RANYC

[SydneyCarton]

 

A new corporate headquarters is coming to South End. Brightspeed, a broadband and telecommunications company, said Tuesday it is establishing its headquarters in the east tower of Vantage South End, the 635,000-square-foot, mixed-use development just two blocks from uptown at South Tryon Street and West Carson Boulevard. Brightspeed plans to occupy an added approximately 27,000 square foot space in the building by the fourth quarter of this year, according to the news release. Construction on the new workspace will start in May.

Read more at: https://www.charlotteobserver.com/news/business/article258920668.html#storylink=cpy

Edited March 1, 2022 by SydneyCarton

[Mgelbach]

19 hours ago, SydneyCarton said:

 

A new corporate headquarters is coming to South End. Brightspeed, a broadband and telecommunications company, said Tuesday it is establishing its headquarters in the east tower of Vantage South End, the 635,000-square-foot, mixed-use development just two blocks from uptown at South Tryon Street and West Carson Boulevard. Brightspeed plans to occupy an added approximately 27,000 square foot space in the building by the fourth quarter of this year, according to the news release. Construction on the new workspace will start in May.

Read more at: https://www.charlotteobserver.com/news/business/article258920668.html#storylink=cpy

Awesome news for Spectrum Cos and everyone working on Vantage!

I wish they had used a more recent picture of mine though

[CLT Development]

1 hour ago, Mgelbach said:

Awesome news for Spectrum Cos and everyone working on Vantage!

I wish they had used a more recent picture of mine though

The presser I got used a MUCH newer photo by you, not this.

[deleted account]

3 hours ago, Mgelbach said:

Awesome news for Spectrum Cos and everyone working on Vantage!

I wish they had used a more recent picture of mine though

They updated the article to use a newer (presumably your) photo. 

[704Dimitri]

Twins. 

[RANYC]

10 hours ago, 704Dimitri said:

Twins. 

Fraternal, however.  One building is smaller than the other.

[Mgelbach]

[rancenc]

Recent video on the Vantage South complex.

 

[KJHburg]

Maybe this project will have some of its views blocked but it does not take away from it being a great project.  The public plaza area is just great and with both of these buildings almost full a great success.  Hearing great things about the hotel too!  The retail is going to be great from what they announced already. 

[videtur quam contuor]

The view OF it is excellent. I care more for that than the view FROM it.

[Niner National]

Maybe this was posted earlier in the topic, but Good Wurst is opening a location here. 
 

my company just won a bid for a project for them here. Sounds like a summer opening. 

[KJHburg]

Spectrum you did a great job on this project.  Can't wait till your topper the hotel. KJ Diversified Industries would love to take your top 4 floors of the east tower but it is slightly out of my corporate budget.  But I know you will find a tenant for those floors soon.  

[Hushpuppy321]

On 4/25/2022 at 9:25 PM, Niner National said:

Maybe this was posted earlier in the topic, but Good Wurst is opening a location here. 
 

my company just won a bid for a project for them here. Sounds like a summer opening. 

Wow - they’ll make a killing in this location, especially if they have good hours of operation on the weekends now with the Midnight Diner gone.

[atlrvr]

Willis Towers Watson is relocating from the Truist Tower in Uptown to the East Tower here (6th floor I think).

Another example of banks expanding helping fill up new developments.

[rancenc]

Article from the Business NC Magazine on the the new urban park that is tied into this complex.

https://businessnc.com/new-charlotte-park-seeks-to-be-south-end-living-room/

[Owenorange]

On 6/9/2022 at 6:58 AM, rancenc said:

Article from the Business NC Magazine on the the new urban park that is tied into this complex.

https://businessnc.com/new-charlotte-park-seeks-to-be-south-end-living-room/

What is this part of the article referencing? A ‘retail’ walkway? Or do they mean the Pedestrian bridge? 
 

“Depena and his family moved to Charlotte from New York City in 2014 for a residency at the McColl Center, and has since developed a design business in the city. He was selected to design a much-anticipated retail walkway that will connect the Uptown and South End neighborhoods, with a scheduled opening in 2025.”

Edited June 11, 2022 by Owenorange

[Guest]

Rail Trail bridge. Weird wording though 

[JRCLT]

If you squint just enough “retail” turns into “rail trail”

[KJHburg]

I really like this entire project and can't wait for the hotel to be announced and I know it will be a nice boutique type hotel. 

and the astroturfing of Charlotte continues that big patch of grass Astroturf or a generic thereof. 

Spectrum gets an A in my book with this project! 

[KJHburg]

From the Biz Journal today while some are reducing office space others are growing it like this firm Tripling their office space. 

""A California-based medical staffing firm is moving its Charlotte operation to Vantage South End. FlexCare Medical Staffing will occupy 27,500 square feet of office space on the eighth floor of Vantage South End's East Tower, the firm announced today. The Roseville-based company will move its roughly 100-person team to the new office in the first quarter of 2023.  CEO Travis Mannon said FlexCare has been operating out of office space at The Metropolitan since expanding to Charlotte about four years ago. The move will nearly triple the company's office footprint here.""

Can you say major success for this project that was started on spec before Lendingtree and others landed there?

""Vantage South End is now 83% leased, and Spectrum expects pending lease agreements to bring the total to 97%. ""

https://www.bizjournals.com/charlotte/news/2022/08/25/flexcare-medical-staffing-vantage-south-end-office.html

Great project has had great success and can't wait to see my nieces new 11th floor office there in a few weeks! 

while I am talking about office space here is another company Doubling their local office space from a move from the Ballantyne area to 1100 South Tryon new building.

""A Durham engineering firm with a long-standing Charlotte presence is more than doubling its office space with a move to South End. McAdams, a multidisciplinary civil engineering, land planning, landscape architecture, transportation and geomatics firm, signed a 10-year lease for 22,700 square feet at 2100 S. Tryon St. That space is on the building's fourth floor. It should take occupancy in early 2023. """

the death of office space has been highly exaggerated.

https://www.bizjournals.com/charlotte/news/2022/08/25/mcadams-engineering-office-move-south-end.html

The trend I see here flight to quality buildings newer and in mixed use neighborhoods with walkable amenities nearby. 

[KJHburg]

Lets not forget this one.  The retail is only beginning to open.  Found out that Good Wurst opens next week according to a staff member and the restaurant does look finished inside.  This Culinary Dropout is huge and will have live music and food.  This is an Arizona based micro chain only in the hippest cities and coming soon to Charlotte.  

When the hotel is built this is going to be the central point of the upper Southend or Lower Uptown area.  

 

[turbocraig]

17 minutes ago, KJHburg said:This Culinary Dropout is huge and will have live music and food.  This is an Arizona based micro chain only in the hippest cities and coming soon to Charlotte.  

 

 

I went to the one in Tempe last month.  Pass.  I had never heard of it before but it felt/tasted really corporate.  It sounded cool.