SouthEnd Midrise Projects

[atlrvr]

Dilworth South

[Guest]

22 minutes ago, atlrvr said:

Dilworth South

Yea i knew what it was as soon as he said the location. That one has flown under a lot of radars. Surprised a for sale concept has been so quiet press-wise.

[KJHburg]

This project announced 2 years ago and supposed to start in Feb.  2100 South Tryon

""2100 South Tryon, at the intersection of Tryon Street and Tremont Avenue (across Tremont from the now-shuttered concert venue), is going through land development and permitting now, said Doug Stephan, principal of Charlotte-based Vision Ventures, which is developing the project. The four-story, 83,000-square-foot project is expected to contain a mix of boutique office space and street-level retail.  Vision is eyeing a February groundbreaking for 2100 South Tryon, Stephan said. ""

Subscriber article https://www.bizjournals.com/charlotte/news/2018/10/22/when-this-long-planned-office-project-in-south-end.html?ana=e_du_prem&s=article_du&ed=2018-10-22&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1540238179&j=84563851

[CTiger]

Progress at 300 W Summit. 

[archiham04]

^wow.  not a fan. I had not seen the plan for this.... VERY suburban.

[Ryan20]

18 hours ago, ricky_davis_fan_21 said:

Yea i knew what it was as soon as he said the location. That one has flown under a lot of radars. Surprised a for sale concept has been so quiet press-wise.

The condo building is basically sold out. They have started selling the quadplex but not the single family homes yet.  They are pricing the homes at 1.1-1.35M for 3200-5000 sqft. I have no idea how they are all going to fit on that property and who in their right mind would pay that for absolutely no yard and sharing your driveway with 50 other people. 

[CTiger]

A look at the new co-working space being built on Camden Road currently - in the space of the former Club Fetch.   I can't help but be disappointed that this is going to be office and not retail, but I guess all these people have to work somewhere.

[J-Rob]

Spectrum site, Rail yard, and dimensional place



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[J-Rob]

Can’t find dimensional place on Tapatalk (I really struggle with search feature on Tapatalk).




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[Guest]

Never mind Jayvee started a thread

 

[KJHburg]

I love all these recently announced office projects in South End.  Lets talk about prospects for the space.   

1. Spectrum has said it will start this winter spec if a tenant is not signed.  Strong financial partner so I say this will happen. 

2. Beacon's tower at South Tryon and West Blvd the "Saucemans" site.   It is small enough 130K of office space to go spec or with just a little preleasing like a floor or so. No huge tenant needed here. 

3. Portmans South Hawkins project.  260K  sq ft of office space.   Dont know if they would go spec or not depends on partner.  Maybe the Chinese company they did with 615 Regions and they did cash out of that building recently.  However they have a lot of buildings coming out the ground in Atlanta's Midtown. 

Prospective office tenants that may be looking:  1. Lendingtree and are several of these buildings #1 and #3 being pitched to the?  Not sure but they said every developer in town contacted them after the news broke of their Pineville Cone Mills which has seemed to stall.   2. US Bank but they could do a built to suit with Cousins they current landlord?  I would think the Tryon street address would be important to them  3. Large accounting firms that want greater visibility.     4. Mysterious new to market tenants 

any thoughts?   Exciting times for sure. 

 

[atlrvr]

I still suspect AIG is taking one of these, and I would guess Spectrum.

I suspect Portman likely to be an out of town tenant, or a suburban tenant looking to move to the core.

 

 

[Guest]

58 minutes ago, KJHburg said:

I love all these recently announced office projects in South End.  Lets talk about prospects for the space.   

1. Spectrum has said it will start this winter spec if a tenant is not signed.  Strong financial partner so I say this will happen. 

2. Beacon's tower at South Tryon and West Blvd the "Saucemans" site.   It is small enough 130K of office space to go spec or with just a little preleasing like a floor or so. No huge tenant needed here. 

3. Portmans South Hawkins project.  260K  sq ft of office space.   Dont know if they would go spec or not depends on partner.  Maybe the Chinese company they did with 615 Regions and they did cash out of that building recently.  However they have a lot of buildings coming out the ground in Atlanta's Midtown. 

Prospective office tenants that may be looking:  1. Lendingtree and are several of these buildings #1 and #3 being pitched to the?  Not sure but they said every developer in town contacted them after the news broke of their Pineville Cone Mills which has seemed to stall.   2. US Bank but they could do a built to suit with Cousins they current landlord?  I would think the Tryon street address would be important to them  3. Large accounting firms that want greater visibility.     4. Mysterious new to market tenants 

any thoughts?   Exciting times for sure. 

 

US Bank goes uptown in a Cousins built new building that hasn't been announced yet. Thats my prediction

[navigator319]

Starting to feel a bit like 2007, no?  How do you play this to profit if you feel a pause/slowdown/slight dip begins back half 2019 for a couple years?

[atlrvr]

3 hours ago, navigator319 said:

Starting to feel a bit like 2007, no?  How do you play this to profit if you feel a pause/slowdown/slight dip begins back half 2019 for a couple years?

At the risk of "this time it's different"...

There have been lots of apartment projects that have been cancelled because of tighter lending standards, rising lumber and labor costs, and concerns from developers about oversupply.

Condo construction is non existent, because developers can't use deposits as equity.

Most every large office is breaking ground with a large tenant signed, and much higher equity than 2007, and most of the equity is from institutional sponsors that can ride through a down cycle.  Also, the tenants here in Charlotte have typically been strong financially (as opposed to tech start ups issuing stock to pay for fancy new spaces)

Hotels would be the biggest potential concern in my opinion, but rates and occupancies are at highs, indicating undersupply.

 

[Nick2]

7 hours ago, ricky_davis_fan_21 said:

US Bank goes uptown in a Cousins built new building that hasn't been announced yet. Thats my prediction

Where would it go? Part of legacy or maybe gateway or something entirely new on an empty lot?

[Matthew.Brendan]

12 hours ago, atlrvr said:

Condo construction is non existent, because developers can't use deposits as equity.

Is this something unique to a Charlotte? Due to NC law? Other cities have no problem building and selling condos.

[Guest]

11 hours ago, Nick2 said:

Where would it go? Part of legacy or maybe gateway or something entirely new on an empty lot?

You'll just have to wait a few weeks to find out where Cousins is developing.

[DMann]

RATS!

[CarolinaDaydreamin]

6 hours ago, ricky_davis_fan_21 said:

You'll just have to wait a few weeks to find out where Cousins is developing.

Is that going to be a size, scale, location and rendering announcement/leak?

[Guest]

53 minutes ago, CarolinaDaydreamin said:

Is that going to be a size, scale, location and rendering announcement/leak?

I don't think any of us are going to need to leak it.

[nicholas]

Think this is the Charlotte Beer Garden location?

 

[kermit]

My apologies if we have discussed this already:

The CBJ reports that Ram closed on the parcel at Doggett and Tremont which was originally going to be phase 2 of the multifamily next door. Ram says the parcel will be used for ground floor retail (30,000 sqft) and two stories of office (also 30,000 sqft) above.  Sounds like this will all be in three separate buildings.

Tremont is becoming the Stonewall of Southend.

https://www.bizjournals.com/charlotte/news/2018/11/06/florida-developer-prolific-in-charlotte-acquires.html

[EllAyyDub]

Ram’s other project at Hawkins and Dunavant. Looks like a big retail space or leasing office/lobby fronting the corner.  Today.

Edited November 6, 2018 by EllAyyDub

[SouthEndCLT811]

17 hours ago, kermit said:

My apologies if we have discussed this already:

The CBJ reports that Ram closed on the parcel at Doggett and Tremont which was originally going to be phase 2 of the multifamily next door. Ram says the parcel will be used for ground floor retail (30,000 sqft) and two stories of office (also 30,000 sqft) above.  Sounds like this will all be in three separate buildings.

Tremont is becoming the Stonewall of Southend.

https://www.bizjournals.com/charlotte/news/2018/11/06/florida-developer-prolific-in-charlotte-acquires.html

https://www.charlotteagenda.com/119830/new-retail-possible-brewery-coming-tremont-avenue-south-end/

This was the original plan so maybe since Fat Head's dropped the plan changed to add the extra stories to one of the buildings.

Edited November 7, 2018 by SouthEndCLT811