110 East: 23 story Tower by Stiles/Shorenstein

[CLTProductions]

And here...we...go...

 

 

[Matthew.Brendan]

Woohoo

[steve_o]

I just posted this in another thread but here is the Observer link:

https://www.charlotteobserver.com/news/business/biz-columns-blogs/development/article236813373.html

[C85]

Florida-based Stiles Corp. and West Coast real estate firm Shorenstein Properties said late Wednesday they will build a tower in a joint venture in South End.

The companies say they acquired 2 acres at the intersections of South Boulevard, East/West Boulevard and the East/West Boulevard Lynx Blue Line Station, where they will develop a 23-story, 385,000-square-foot office tower. The building will also include 11,000 square feet of retail and restaurant space.

The acquisition includes the buildings that currently house Tupelo Honey and The Manchester as well as an adjoining parking lot that's used for those restaurants. The seller was Browder Harris Group.

The two buildings and 2 acres included in the sale traded for $21.5 million, according to a source with knowledge of the deal — a sizable transaction even for booming South End, where new office towers are announced seemingly weekly.

Construction is expected to begin within the next year on the tower. A spokeswoman for Stiles declined to provide a more specific estimated groundbreaking.

Hastings Architecture has been appointed to design the tower but a rendering of the building was not immediately available.

Stiles and Shorenstein say there is potential to accommodate up to 1 million square feet in future phases for "larger users," but it wasn't immediately clear if that would be in one or more towers onsite.

[KJHburg]

Shorenstein has  deep deep pockets out of San Francisco and they just bought a building up in the university area as well.  

That explains why Tupelo Honey is moving uptown it is not an additional restaurant it will be their new and only location in the market. 

Edited October 30, 2019 by KJHburg

[KJHburg]

Shorenstein owns some nice properties 

https://shorenstein.com/properties/

and Stiles has developed some high rises in south Florida too especially in downtown Ft Lauderdale 

 

[AppState92]

I hope the Tupelo Honey building doesn’t go.  I love it.  There’s plenty of parking lot to build the tower.

[Jasons0013]

Yet another cool building we are losing for something bright and shiny... ughhh

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[wilmore]

People love a two-story building that doesn't even face a street? 

[HopHead]

And the skyline continues to extend outside of uptown...

[A2.]

40 minutes ago, Jayvee said:

And here...we...go...

 

 

Let’s hope that the additional phases are quite appreciable in height as this is the LAST land zoned UMUD in all of SE. I would truly be upset if this purchase was wasted on some lackluster 20 story stucco tower.

This is the Last opportunity to build a signature SE tower that would make a monumental statement on the southern skyline. Think of the prestige of having your HQ on the tallest in SE. Would  be awesome recruiting tool to house a new firm or even an existing firm in the QC seeking additional office within the booming SE area.

It would stand out and be a serious eye catcher. The best part is no one would be able to lay claim on another tower that would eclipse it. 

Probably why they paid twice the money. It was a pretty savvy investment move considering the opportunity that will exist either in this cycle or the next.

If they have the deep pockets that people say, I would honestly build this as a super spec tower. It would be filled before the first floor was poured! 

Build it and they will come! 

 

A2

 

[Jasons0013]

People love a two-story building that doesn't even face a street? 

I like it a lot more than empty lots that are everywhere. While it is only a 2 story building, it has character. Which I highly doubt this new building will have.

 

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[Guest]

11 minutes ago, Jasons0013 said:

I like it a lot more than empty lots that are everywhere. While it is only a 2 story building, it has character. Which I highly doubt this new building will have.

 

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The building is 90 years old, so you gotta respect that.

[A2.]

28 minutes ago, KJHburg said:

Shorenstein owns some nice properties 

https://shorenstein.com/properties/

and Stiles has developed some high rises in south Florida too especially in downtown Ft Lauderdale 

 

They definitely have one heck of a portfolio! Took me three minutes just to go through all their properties! 

[QClifer]

THeres not much they can do to the east/south intersection either I don’t think.   I know I know we want to get rid of cars and think everybody will ride the train. 

[KJHburg]

Now I looked up this architectural firm in Nashville Hastings.   what I did not see is a lot of high rise office buildings unless I am missing something.    Hmmm

https://www.hastingsarchitecture.com/portfolio/

[Miesian Corners]

The two story brick building had a flat roof until it was redeveloped in the ‘80s. The Manchester building was constructed in the 80s and was the home of the Cherokee Brick Showroom. It has an awesome brick relief of a Native American chief on the South Blvd facade that some moron covered up with dryvit when it was converted to restaurant space in the mid-90s. 

[atlrvr]

So.... assuming this isn't spec, who wants to wildly speculate on tenants, or drop clumsily disguised hints?

[A2.]

3 minutes ago, atlrvr said:

So.... assuming this isn't spec, who wants to wildly speculate on tenants, or drop clumsily disguised hints?

I will speculate that it will be a tech firm and NOT a Bank. That said, it’s only because that is the “vibe” I get from SE.  

(keep those Bankers behind the Belk Barrier and make then develop all those remaining parking lots that they stare at from their lofty abode. Maybe they will get the nerves to pick up the phone and get Levine’s rear in gear!) 

Edited October 30, 2019 by A2.

[Miesian Corners]

1 minute ago, atlrvr said:

So.... assuming this isn't spec, who wants to wildly speculate on tenants, or drop clumsily disguised hints?

JPMorganChase is moving its HQ to Charlotte. 

[A2.]

1 minute ago, Miesian Corners said:

JPMorganChase is moving its HQ to Charlotte. 

What wut! 

That said, I wouldn’t doubt anything in the QC. This city is quite frankly on fire on the development front.  I truly am impressed at all that has happened this last cycle. If ol JP wants a home here, I’m sure the UP gang could definitely give em the red carpet treatment upon their arrival. 

Edited October 30, 2019 by A2.

[Cadi40]

Can developers request that more sites be rezoned UMUD? Kind of sad to see the last UMUD lot go but who am I kidding you know I love me some height.

[A2.]

2 minutes ago, Cadi40 said:

Can developers request that more sites be rezoned UMUD? Kind of sad to see the last UMUD lot go but who am I kidding you know I love me some height.

I was thinking the same thing. Is that something that could conceivably happen? I don’t pretend to know how that process would work. But that said, SE is the perfect corridor to extend the height. 

Edited October 30, 2019 by A2.

[KJHburg]

JP Morgan Chase is moving lots of jobs out of NYC but probably to Plano TX where they are building a HUGE campus or Columbus OH but likely not here. 

https://www.dallasnews.com/business/real-estate/2019/06/05/jpmorgan-chase-will-bring-4000-more-workers-to-plano-with-new-tower-project/

and don't even mention a major paint company as this building is not large enough and that is still up in the air.  

Portman should break ground quick on their tower as sometimes first with the shovel  gets the tenants.    However Shorenstein owns the US Bank tower in Sacramento interesting. 

[Miesian Corners]

It’s too bad I couldn’t  utilize the font color function on my iPhone.