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Misc. Uptown Projects/News

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3 hours ago, ricky_davis_fan_21 said:

Lmao this is going to be worse than Skyhouse 1 Brevard

This one isn't Apartments guys, its actually Condos.

Same architects as 1 Brevard... oh boy

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2 hours ago, ricky_davis_fan_21 said:

Hey at least it means maybe we will get some eye candy.

   This architect also designed a cancelled condo tower in Myers park in addition to 1 Brevard

 

Edited by KJHburg
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Just now, KJHburg said:

Tom nice to meet you.   This architect also designed a cancelled condo tower in Myers park in addition to 1 Brevard

Kasey Jones

Yea but that was like 10 years ago. They also designed the original Silos development which had a 28 floor building. Honestly they quietly have designed some pretty great stuff, that actually WAS built.

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Their work looks good just wrong place or time or price.  Nothing they really control 

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3 hours ago, KJHburg said:

Many people can not build high rise as it is very complicated and of course so is the financing.  Look at the famous flop that 100s of people lost thousands of dollars the 210 Trade Tower at epicenter.  That developer had never built anything over 3-4 stories and people thought he could build a 50 story high rise condo tower.  (I saw the red flags on that one way before it was cancelled) Now if this development groups gets a partner with experience maybe.   Building high rises is not easy and only certain companies could pull it off.    IF this tower is condos good luck with that it wont happen.  Due to building costs thus super high sales price , NC builder liability laws etc high rise condos are just not feasible now in uptown Charlotte.  I do think that there is a market for a few atop a new hotel or two where they could share the amenities.  But a purely high rise condo tower I dont see one in the foreseeable future in uptown. 

I’d agree except we keep tearing down buildings that are overbuilt from most that go up today. Fantasy is just that. Which makes it all the more painful when we (still) tear down a better base than what replaces it.

[see: Polk as the most recent in a long line of examples]

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19 hours ago, ricky_davis_fan_21 said:

 

It’s a lot of time and effort to develop the relationships it takes to know things in advance. I don’t speak for Jason, but I personally lament the secrets I keep from the people on this board. Y’all deserve to be as excited as we are about these things. Sometimes it’s not gloating, it’s just a release.

 

But we aren’t anonymous anymore, people know who we are, so... kinda hard to share secrets.

 

Love,

Tom from Myspace

 

 

I completely understand. I really do. I just couldn't resist since I had just posted that the other day. I will admit, it is frustrating because I think many of us used to come here for the advanced info French.

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Bank of America exiting out of 295,000 sq ft of Bank of America Plaza at 101 S Tryon but Cousins owner of the building does not seem to worried about it according to the article.

With Truist taking over 2/3 of the Hearst Tower maybe US Bank could move here and call it US Bank Plaza wouldn't that be something.

from the article

""Atlanta-based Cousins (NYSE: CUZ), following last month's roughly $8 billion merger with TIER REIT, has added another central business district tower to its Charlotte portfolio, the 891,000-square-foot Bank of America Plaza tower at 101 S. Tryon St. Following the TIER deal, this makes Cousins an even bigger landlord in Charlotte's CBD, with its other holdings here including Fifth Third Center, Gateway Village, Hearst Tower, NASCAR Plaza and the recently delivered Dimensional Place in South End. Charlotte-based Bank of America (NYSE: BAC) is the major tenant at Bank of America Plaza today but will soon exit that 40-story tower, with the bank consolidating employees who work in that building and Hearst Tower into other properties in the CBD, including Bank of America Tower at Legacy Union. BofA leases 295,000 square feet at Bank of America Plaza, with its term expiring in late 2020, opening up about 16 floors at the tower.""

Subscriber article:  https://www.bizjournals.com/charlotte/news/2019/07/26/cousins-properties-ceo-sees-opportunity-at-uptown.html 

 

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13 minutes ago, atlrvr said:

It's quite possible that US Bank moves here.  I do expect Truist to purchase Hearst Tower, and eventually push out most of the rest of the tenants there.

Completely agree here; it is an attractive and visible building with an ultra desirable address. Add to that the renovations of the ground floor and the ability to gut and do the floors however they want, I wouldn't be surprised if this is US Bank Plaza sooner than later.

That said, anyone know how the naming rights work here? How long does BofA have it for?

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7 minutes ago, Jayvee said:

Completely agree here; it is an attractive and visible building with an ultra desirable address. Add to that the renovations of the ground floor and the ability to gut and do the floors however they want, I wouldn't be surprised if this is US Bank Plaza sooner than later.

That said, anyone know how the naming rights work here? How long does BofA have it for?

I would say they have naming rights as long as their lease and it is up in 2020.  As this was NCNB Plaza then Nationsbank Plaza then Bank of America Plaza they will giving up their name on a building they have long held since 1970s.      This would make a great location for US Bank to plant its flag in a prominent spot and consolidate their real estate footprint.  

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On 7/24/2019 at 3:54 PM, lancer22 said:

The issue is that they are still not leased up 2 and 4 years after opening and maybe they never will. Also, they sold last fall for substantially less than it would cost to build them.

FWIW this made me curious so I looked in the last Real Data report that I had.

Reported vacancy at Skyhouse:

2/1/18: 30.1%
8/1/18: 5.4%

Shrug...

Edited by kermit

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1 hour ago, kermit said:

FWIW this made me curious so I looked in the last Real Data report that I had.

Reported vacancy at Skyhouse:

2/1/18: 30.1%
8/1/18: 5.4%

The 3/3 units did have a 25% vacancy.

Shrug...

Anything on Publix ?

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1 hour ago, Jasons0013 said:

BoA went to resign lease and found out that the building wanted 2-3 times more per SF.  Just what I heard.

If they had no intention to move their employees from here to their new tower, do you think they’ll take more space than originally planned at LU now? 

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19 hours ago, kermit said:

FWIW this made me curious so I looked in the last Real Data report that I had.

Reported vacancy at Skyhouse:

2/1/18: 30.1%
8/1/18: 5.4%

Shrug...

Might just be the north tower you are looking at. As of right now, the combined vacancy is about 15%.

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It’s really not news but gezzz the epicenter is tatty (it’s my first time inside in more than 5 years)

 

 

65B438DB-9AEF-451A-A062-C374335E1746.jpeg

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7 minutes ago, kermit said:

It’s really not news but gezzz the epicenter is tatty (it’s my first time inside in more than 5 years)

 

 

65B438DB-9AEF-451A-A062-C374335E1746.jpeg

Coincidentally that’s the last time any work, care or  maintenance went into it

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*day-dreaming* They tore down epicenter and built something like Nashville’s Fifth + Broadway.

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I commented in February about when the value of the property at Epicenter will be worth more than the improvements. If the transit center project happens I think the answer is "soon".

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On 7/27/2019 at 9:24 AM, DMann said:

So....who takes the old Ally Bldg?

They lease about 140K sq or so in that building that is basically full. I think they will break that space up for several tenants as it is good building and more affordable that something brand new uptown.  They are also moving people from SouthPark and Ballantyne too. 

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