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JLL Marketed Duke Properties (2 now and eventually 3)


CarolinaDaydreamin

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On 5/7/2022 at 8:44 AM, j-man said:

No I’m talking about the parking surface  right next to the building…why does everyone keep asking what parking. Have y’all not ever seen this side of  the building. 
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I agree!! It’s something about the convention center that I just don’t like. It still looks outdated on the front side and it is such a huge dead zone in the middle of the city. An entirely new one with a 1,000 room hotel should have been on the table because this one still doesn’t seem that great. Sure it’s location in amazing but they could have done better with it. 

Fair enough.  Since Duke owns that surface lot on that Mint St side of the building, not sure what the new owner will have in mind.   Now I'm curious to see what becomes of it.

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8 minutes ago, dxartist said:

Well, just got this in my inbox. Mint Street Parking Deck is  under contract to be sold to Millenium Venture Capital (MVC).  Expected close on sale to be end od 2022 or early 2023.

  1. Change in ownership of an asset surrounded by an uptick in activity due to games and performances; the new buyer wants the growing parking fee yield on the asset
  2. New vertical development and lot activation
Edited by RANYC
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20 minutes ago, KJHburg said:

Now Millenium is the buyer which other Duke Energy property?  the South Church St building or the data center on College I can't keep up with all this?  

There's a Millenium Venture Capital based in Berlin.  The buyer of the data center on College was also Berlin-Based.  Same or affiliated interests?

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1 hour ago, RANYC said:

There's a Millenium Venture Capital based in Berlin.  The buyer of the data center on College was also Berlin-Based.  Same or affiliated interests?

according to jasonthomasclt, it will remain a parking deck for the foreseeable future

 

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45 minutes ago, KJHburg said:

Asana Partners will do the retail around it and they will do a creative office building on the parking lot that is behind the building.  He said he wished his company would have come south first to Charlotte, Raleigh and Nashville before they went to Philly and Baltimore.    They do own one of my favorite bldgs in DC the 2000 Pennsylvania building which saved a row of historic buildings. 

 

Oh wow, 2000 Pennsylvania Ave. is a favorite of mine as well.  If these,are the same folks, that's a positive sign.

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1 hour ago, KJHburg said:

Talked to a guy from MRP who is buying the Duke Energy building on S Church aka the concrete bunker like building. 

He said the building is perfect for residential in terms of its size.  The ceiling height is 13 feet which allows for high ceilings even with space for mechanicals.

 

It's honestly one of the few old office buildings in Uptown that could be easily converted to residential, it's pretty perfect for it.

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26 minutes ago, Madison Parkitect said:

It's honestly one of the few old office buildings in Uptown that could be easily converted to residential, it's pretty perfect for it.

It would be a fantastic spot for it. Gut the insides and throw on a few balconies and you've got the next hot spot.

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1 hour ago, KJHburg said:

He was really excited about the old Duke building and it will be reskinned on the outside not sure what as he had to go and he said they even discussed their retail plans with Lincoln Harris.  Of which I stated they don't know how to do retail very well but will provide lots of customers for their retail curated by Asana partners.  

Another presenter can't remember who know said this the center of uptown business district has moved south which all know that.  

Back in the day KJ story:  when 2000 Pennsylvania Ave first opened teenager KJ was so impressed I drove downtown or rode Metro from Fairfax  to go see their atrium between the new office building and the row of townhomes.  Hey when you lived 10 years in the DC area you had been to every museum and major site multiple times and I found the business district of the District interesting.  (and I was pro Rosslyn before it was popular LOL)  I was going to be an architect back then like Art Vandelay LOL. 

I asked him why so many DC developers are suddenly into NC after years of not doing things here.  He said DC metro is slowing in growth and new opportunities are south.  Ackridge, Hoffman, MRP all DC developers plus the metropolitan partnership which is leading development at 7th and Tryon is another.   and DC developers love to build dense projects and without height restrictions here in most locations they can go tall. 


DC Metropolitan area (and the city) is booming insanely. It even has been beating out Seattle in the crane counts (pre and post pandemic), among the top in adding office despite its small city limit size and the metropolitan area is adding among the most people and office space over the decade. Heck, DC added more people than Atlanta between 2010-2020 despite Atlanta having double the city limits. But the South definitely is proving to be a great place for development as the cities grow more urban. DC developers really like Raleigh too I’ve noticed. NC is such a natural place for VA businesses to expand. It’s great to have a booming neighbor. 

In any event. This building definitely needs life breathed into it. It’ll be super positive for the area. I hope they keep the lights on the side of the building ❤️ I loved those as a child 

 

Edited by AirNostrumMAD
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2 hours ago, ClassicColtrane said:

so how much taller will this residential project be than the original building? will it be as tall as the catalyst and element? 

very impressed that they’re not demolishing because this building seriously looks like the jail in uptown lol

 

So since the current building has 13 ft ceilings, I wonder will the newer floors be the same height or will the floors be the usual 10 ft from top to bottom. 

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On 6/28/2022 at 4:56 PM, RANYC said:

There's a Millenium Venture Capital based in Berlin.  The buyer of the data center on College was also Berlin-Based.  Same or affiliated interests?

According to the FAQ PDF I got in my Duke e-mail inbox, it's the same group based in Berlin.  The FAQ also stated the company negotiated roughly the same monthly rate for Duke Employees for at least the next 5 years. The only thing that will change is the daily parking rate will go up for Duke employees who park at Mint Street on occasions.  This doesn't affect me since I don't exactly work Uptown anymore.   If I need to go, I simply bike or walk that half mile.

Hope this clears it up.

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Germans and Europeans in general are very patient in development they will develop this huge deck when the time comes but right now probably best to keep it parking for a while longer.  But boy can you build a lot of towers on that site. 

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On 7/2/2022 at 7:24 PM, KJHburg said:

Germans and Europeans in general are very patient in development they will develop this huge deck when the time comes but right now probably best to keep it parking for a while longer.  But boy can you build a lot of towers on that site. 

and according to the Biz Journal today the German MVC of Berlin will keep the parking deck a parking deck for at least 5 years.  So dont expect any redevelopment anytime soon. 

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