Ally Charlotte Center (f/k/a Tryon Place) - 26 floors - 427'

[KJHburg]

Mercedes Benz in Atlanta is really in suburban Sandy Springs near Perimeter Mall and Toyota's new campus in Dallas in is far north suburb of Plano on a sprawling campus. Both of these companies chose suburban locations for their campuses.  The anchor tenant for this Tryon Place is in the market already. If it is Duke that is great they will get the tower started sooner. If they leave 400 South Tryon that would be a 500K tower possibly empty but available for other uses. I always thought it would make a great hotel at least part of it. As I stated earlier Duke is moving forward with its 95 acre campus in University Research Park with site work now.  

[HopHead]

11 hours ago, Prodev said:

It's most likely Duke, and it should be announced soon. Total size may be larger than originally announced too. 

I didn't realize that Duke had that much office space outside of the Duke Energy Center and 526 Church (their old HQ). If so, then consolidating from the space into Tryon Place sounds logical, especially with its proximity to DEC. Not to venture off topic, but do we one day envision 526 Church being redeveloped?

[CLTProductions]

15 minutes ago, HopHead said:

I didn't realize that Duke had that much office space outside of the Duke Energy Center and 526 Church (their old HQ). If so, then consolidating from the space into Tryon Place sounds logical, especially with its proximity to DEC. Not to venture off topic, but do we one day envision 526 Church being redeveloped?

Was an immediate thought I (and others) had, and I would absolutely say this opens the door to it.

[Silicon Dogwoods]

7 hours ago, KJHburg said:

Mercedes Benz in Atlanta is really in suburban Sandy Springs near Perimeter Mall and Toyota's new campus in Dallas in is far north suburb of Plano on a sprawling campus. Both of these companies chose suburban locations for their campuses.  The anchor tenant for this Tryon Place is in the market already. If it is Duke that is great they will get the tower started sooner. If they leave 400 South Tryon that would be a 500K tower possibly empty but available for other uses. I always thought it would make a great hotel at least part of it. As I stated earlier Duke is moving forward with its 95 acre campus in University Research Park with site work now.  

I've lived in Atlanta and I don't think I would call Sandy Springs suburban. Once long ago, maybe, but no longer. In fact, until just a few years ago, Sandy Springs wasn't even incorporated as a municipality. Now that it is incorporated, it is correctly identified as a suburb of Atlanta. But its urban character is identical to adjacent Atlanta's. So if Sandy Springs is suburban, so is Atlanta (and many would agree that Atlanta's character is mostly suburban, just as with Charlotte.) Only a practiced eye (no cheating with signs!) can tell where Atlanta ends and Sandy Springs begins.

IIRC correctly from the reporting, Mercedes-Benz chose its location to be near a MARTA station.

Edited April 11, 2016 by Silicon Dogwoods

[KJHburg]

Maybe Duke Energy is going to empty out of 400 South Tryon with some going to University Research Park and other jobs being relocated to new Tryon Place. That would be fantastic to have that new tower underway too. From what I heard Duke was going to move out of 400 South Tryon a few years ago but when they bought Progress Energy of Raleigh they needed the space. 

PS Mercedes Benz new HQ in Sandy Springs is not within walking distance of Marta it is on the other side of GA 400.  It just shows automakers want huge suburban campuses since all their employees mostly drive to work. 

 

[Silicon Dogwoods]

1 hour ago, KJHburg said:

Maybe Duke Energy is going to empty out of 400 South Tryon with some going to University Research Park and other jobs being relocated to new Tryon Place. That would be fantastic to have that new tower underway too. From what I heard Duke was going to move out of 400 South Tryon a few years ago but when they bought Progress Energy of Raleigh they needed the space. 

PS Mercedes Benz new HQ in Sandy Springs is not within walking distance of Marta it is on the other side of GA 400.  It just shows automakers want huge suburban campuses since all their employees mostly drive to work. 

 

Do they have a shuttle?

Or is that heresy?

(I guess it could be manufactured by Daimler...)

[urbanlover568]

So does this building have any announced tenets? How reliable is this rumor that a tenant has been acquired? I been looking and no new news on this development in the past few months. 

[Guest]

10 minutes ago, mpretori said:

So does this building have any announced tenets? How reliable is this rumor that a tenant has been acquired? I been looking and no new news on this development in the past few months. 

Everyone I've talked to today has cautioned me about the rumor, and been kind of dicey/ used very choice words. Either it's dead on, or completely wrong. Personally I think ProDev has stumbled onto something and people are in deny mode. We shall see. He's never led us astray once.

Edited April 12, 2016 by Guest

[urbanlover568]

44 minutes ago, ricky_davis_fan_21 said:

Everyone I've talked to today has cautioned me about the rumor, and been kind of dicey/ used very choice words. Either it's dead on, or completely wrong. Personally I think ProDev has stumbled onto something and people are in deny mode. We shall see. He's never led us astray once.

I really hope you are right. I really hope we get a new headquarters here to be in that building. Show the world, Charlotte will not go quietly into the night

Edited April 12, 2016 by mpretori

[15895]

1 hour ago, ricky_davis_fan_21 said:

Everyone I've talked to today has cautioned me about the rumor, and been kind of dicey/ used very choice words. Either it's dead on, or completely wrong. Personally I think ProDev has stumbled onto something and people are in deny mode. We shall see. He's never led us astray once.

I thought that exact same thing. Either it's completely accurate or completely off the mark. 

 

I'll just sit quietly and wait for Jayvee's 2 cents now he's had the day to Charlotte Agenda around, lol.

[CLTProductions]

18 minutes ago, AirNostrumMAD said:

I thought that exact same thing. Either it's completely accurate or completely off the mark. 

 

I'll just sit quietly and wait for Jayvee's 2 cents now he's had the day to Charlotte Agenda around, lol.

My sentiments are that of RDFs. A lot of carefully chosen words and carefully denying. Wasn't expecting someone to go "YOU GOT IT. DUKE. GOOD GUESS" but I dunno. I don't think anything is set in stone, don't think ink is dried anywhere. But it's certainly a possibility and one that makes a lot of sense. 

 

Just gotta wait and hope for now....I also personally agree with "in Prodev we trust" 

Edited April 12, 2016 by Jayvee

[KJHburg]

Deleted

Edited April 15, 2016 by KJHburg

[alb1no panther]

4 hours ago, KJHburg said:

I thought about this after I walked by their offices. If James McElroy and Diehl law firm sold their building on South College Street this still appears to be in there with their office, does anyone know when they will move out and move elsewhere. They occupy that whole 3 story building I think and if anyone knows anyone there it might be interesting to hear what they are hearing about a construction start for Tryon Place. Also there is a tenant for some building that would be existing.  

English, MFer, do you speak it?!

 

In all seriousness, this would be an epic collapse.  How does millions of dollars go into designing a building, just for it to get axed? 

[KJHburg]

26 minutes ago, alb1no panther said:

English, MFer, do you speak it?!

 

In all seriousness, this would be an epic collapse.  How does millions of dollars go into designing a building, just for it to get axed? 

That law firm James McElroy Diehl is still in their building at 600 South College  and they have not moved out yet. I was asking if anyone knows when they will because it stands in the block where Tryon Place will be.    I checked tax records Crescent does not own that building site Sorry to have offended you over my bad grammar!  So do you know anything about it?

[Midwoodian]

Below is the link but a Crescent exec was named to the Harvey B Gantt center board today. The Charlotte Biz Journal article specifically quoted the Gantt board chair and the Crescent exec as saying one reason for doing this was to create and authentic link Tryon Place and the Gannt Center across the street ; in other words strategically incorporate the Gantt center in Tryon Place's plans, neighborhood and overall energy. This can only be taken as positive news.

Link: http://m.bizjournals.com/charlotte/news/2016/04/14/crescent-communities-ned-austin-appointed-to-gantt.html

[Deleted.]

Deleted. 

Edited May 2, 2016 by Piedmont767

[CLT704]

News on the Duke Energy rumor? 

[CLTProductions]

12 minutes ago, CLT704 said:

News on the Duke Energy rumor? 

When there is news to report, it will be reported here. Don't worry.

[Deleted.]

I'm starting feel like this is starting to be Trump Charlotte all over again. 

[urbanlover568]

8 minutes ago, Piedmont767 said:

I'm starting feel like this is starting to be Trump Charlotte all over again. 

I don't know how often 300's website is updated, but it looks like 12 floors are still not leased. Don't think it would be wise to start another high rise when existing projects are struggling to find tenants.  

Edited May 15, 2016 by mpretori

[Guest]

38 minutes ago, mpretori said:

I don't know how often 300's website is updated, but it looks like 12 floors are still not leased. Don't think it would be wise to start another high rise when existing projects are struggling to find tenants.  

Doesn't have to be filled to make a profit. 

[urbanlover568]

6 minutes ago, ricky_davis_fan_21 said:

Doesn't have to be filled to make a profit. 

I dont think we are China where we can build like gangbusters and worry later. With the building being only half leased, that should send a message of risk to developers. I know we want more high-rises, but the demand has to be there. With the geopolitical atmosphere being extremely hostile towards businesses in North Carolina, that's not gonna help matters also. Sorry to be a downer, but that's the reality Charlotte faces now. 

Edited May 15, 2016 by mpretori

[Miesian Corners]

2 hours ago, mpretori said:

I dont think we are China where we can build like gangbusters and worry later. With the building being only half leased, that should send a message of risk to developers. I know we want more high-rises, but the demand has to be there. With the geopolitical atmosphere being extremely hostile towards businesses in North Carolina, that's not gonna help matters also. Sorry to be a downer, but that's the reality Charlotte faces now. 

One of uptown's problems has been not enough contiguous space for a large tenant/relocation. Absorption right now is still really good and inventory for the submarket is relatively low. Speculative space is needed for firms to grow. 

[CLTProductions]

Piedmont. Relax. This project is going. It's a nearly quarter billion dollar project. Takes time to line up the ducks. 

 

Mpretori. Couldn't be more off. Just because something isn't listed as leased and the ink is dry doesnt mean there is no background activity. There is a TONNNNN of interest in 300 S and 615 should be announcing an anchor soon. 

 

This project is fine and is catering to a different market. A market that doesn't need office space until mid to late 2018, possibly even 2019. That takes a while to negotiate. 

[urbanlover568]

13 minutes ago, Miesian Corners said:

One of uptown's problems has been not enough contiguous space for a large tenant/relocation. Absorption right now is still really good and inventory for the submarket is relatively low. Speculative space is needed for firms to grow. 

Well see. Rent prices are stabilizing and we are at the bottom of this cycle and HB2 kinda puts a damper on things. 

1 minute ago, Jayvee said:

Piedmont. Relax. This project is going. It's a nearly quarter billion dollar project. Takes time to line up the ducks. 

 

Mpretori. Couldn't be more off. Just because something isn't listed as leased and the ink is dry doesnt mean there is no background activity. There is a TONNNNN of interest in 300 S and 615 should be announcing an anchor soon. 

 

This project is fine and is catering to a different market. A market that doesn't need office space until mid to late 2018, possibly even 2019. That takes a while to negotiate. 

Nothing has been announced and interest doesn't always lead to signage of a lease. Right now, it's all rummer's. 300 has Babson which only takes 8 floors. Another anchor is speculation at this point.