Misc. Uptown Projects/News

[CLTProductions]

This flew under all our radars:

http://www.charlottemagazine.com/Charlotte-Magazine/December-2015/Former-Wooden-Vine-Chef-Opening-Fourth-Ward-Concept/

This is 3rd ward not 4th, but seems cool. 

Edited December 29, 2015 by Jayvee

[navigator319]

^ This is interesting for sure.  Has to be the building next to Greens right?  It's not white and as noted this is not 4th Ward.  Pretty poor mistakes if you ask me, anyway.

If it is not the building next to Greens then something is happening their as the sign saying available is down and interior is being gutted.

[CLTProductions]

10 minutes ago, navigator319 said:

^ This is interesting for sure.  Has to be the building next to Greens right?  It's not white and as noted this is not 4th Ward.  Pretty poor mistakes if you ask me, anyway.

If it is not the building next to Greens then something is happening their as the sign saying available is down and interior is being gutted.

Yes it is the building next to Green's, and its not facing the park either. Very poor mistakes. But I talked to the chef, this place is gonna be pretty amazing. New Orleans style Jazz and Funk is what the live bands will be playing, etc...lot of good stuff. Ill post renderings when I get them

[Windsurfer]

Couldn't help but notice this morning that the SW corner of Morehead and S. Tryon are taped off and it appears folks are moving out. Forgive me for not remembering the name of this project.

[Guest]

34 minutes ago, Windsurfer said:

Couldn't help but notice this morning that the SW corner of Morehead and S. Tryon are taped off and it appears folks are moving out. Forgive me for not remembering the name of this project.

That's 1000 South Tryon.

http://1000southtryon.com

Jeeze, Projects that I don't expect to happen this cycle keep finding ways to prove me wrong.

Edited December 30, 2015 by Guest

[CLTProductions]

41 minutes ago, Windsurfer said:

Couldn't help but notice this morning that the SW corner of Morehead and S. Tryon are taped off and it appears folks are moving out. Forgive me for not remembering the name of this project.

Hate to be a party pooper but that's a popular tailgate lot. Perhaps it's blocked off for the game today?

[Guest]

6 minutes ago, Jayvee said:

Hate to be a party pooper but that's a popular tailgate lot. Perhaps it's blocked off for the game today?

OH! For the Belk Bowl...

 

[tozmervo]

33 minutes ago, ricky_davis_fan_21 said:

That's 1000 South Tryon.

http://1000southtryon.com

Jeeze, Projects that I don't expect to happen this cycle keep finding ways to prove me wrong.

Given the egregious parking deck they want I'd rather this one fall off anyway.

[Spartan]

Re: Loft & Cellar

I can see that working if it's done well. The location is a little off the beaten path - but if they can open up the ground floor so it feels a little more inviting and figure out how to cater to the baseball crowd and 3rd/4th ward residents it has a lot of potential.

[southslider]

Nothing says LEED like Free Parking: 3 to 1,000 ratio!

[15895]

I hate to ask a dumb question, but 400 South Tryon has 8,000 sq. feet of retail space along Church and MLK being created. Is 8,000 ft. Enough pretty much for 1 restaurant or multiple tenants?             And 

[CLTProductions]

2 minutes ago, AirNostrumMAD said:

I hate to ask a dumb question, but 400 South Tryon has 8,000 sq. feet of retail space along Church and MLK being created. Is 8,000 ft. Enough pretty much for 1 restaurant or multiple tenants?             And 

Could be multiple but they're marketing it towards one tenant for a flagship type restaurant. Also, it's not being created the space already exists (used to be a FBI space where they interviewed 9/11 suspects and persons of interest interestingly enough) the new tenant will have to do a ton Of demo and upfit  

Edited January 4, 2016 by Jayvee

[Dale]

Wasn't the BofA retail conversion to have been unveiled this week ?

[CLTProductions]

40 minutes ago, Dale said:

Wasn't the BofA retail conversion to have been unveiled this week ?

Nope not yet. Hopefully coming soon though!

[Dale]

Thanks!

[Crown]

Anyone else surprised by the March open projection for Essex at BofA Plaza? I guess I've been asleep at the wheel. 

http://www.bizjournals.com/charlotte/news/2016/01/11/high-end-restaurant-targeting-march-opening-in.html

[CLTProductions]

5 minutes ago, Crown said:

Anyone else surprised by the March open projection for Essex at BofA Plaza? I guess I've been asleep at the wheel. 

http://www.bizjournals.com/charlotte/news/2016/01/11/high-end-restaurant-targeting-march-opening-in.html

Yeah when I talked to them they said Q2, I think March is a bit ambitious but I guess it's a long month.

[Miesian Corners]

Anyone know why the Packard Place patio construction has ground to an abrupt halt? 

[CLTProductions]

9 minutes ago, Miesian Corners said:

Anyone know why the Packard Place patio construction has ground to an abrupt halt? 

Ink & Ivy....there's something going on with the steel selected to be used for the structure (tons of mumbo jumbo I don't understand). Anyway, they were waiting on approval from the city and structural engineers (which I think they got today) to continue. I would assume construction would pick back up soon. I think they're still working inside. 

Working on getting confirmation on exactly what happened, stay tuned.

Edited January 14, 2016 by Jayvee

[captainjack]

I apologize in advance if this has already been addressed, and I didn't want to bump up its given thread, but I have wondered this for quite some time: is the "now leasing" banner atop The VUE ever going to come down? Isn't it mostly/fully leased now?

[SgtCampsalot]

5 minutes ago, cjolley92 said:

I apologize in advance if this has already been addressed, and I didn't want to bump up its given thread, but I have wondered this for quite some time: is the "now leasing" banner atop The VUE ever going to come down? Isn't it mostly/fully leased now?

Eh... I suspect it's because in the rental leasing game unless you're a property that's reached your stride and stays above 95% occupancy all the time, the push never stops. The Vue is the definition of niche rental property so I wouldn't be surprised if they have to always be on their game.

Edited January 18, 2016 by SgtCampsalot

[kermit]

I have no idea what thread this should be posted in but thought it was interesting:

Belk is not able to renew their lease at LakePointe. This could be good (move Belk HQ to Crescent), bad (no more Belk HQ at all) or entirely irrelevant (they move to Bollywood) news for us. Who knows something?

http://www.charlotteobserver.com/news/business/article55452785.html

 

[CLT2014]

21 minutes ago, kermit said:

I have no idea what thread this should be posted in but thought it was interesting:

Belk is not able to renew their lease at LakePointe. This could be good (move Belk HQ to Crescent), bad (no more Belk HQ at all) or entirely irrelevant (they move to Bollywood) news for us. Who knows something?

http://www.charlotteobserver.com/news/business/article55452785.html

 

Belk has a lease through 2020. The article indicates Belk said no thanks to renegotiating their lease early with the landlord that owns half of their complex and has forced that landlord to sell to the investor that own the other half of the property. This is a win for Belk as they only have to negotiate with one landlord when their lease expires in 2020. Managing a relationship with two landlords over the same campus must have been a nightmare. Smart move by Belk and as the article indicates, this doesn't affect their current occupancy and I wouldn't expect them to move to Uptown anytime soon. Their rent sounds dirt cheap at LakePointe... the new private equity owners of Belk aren't going to move to a more expensive brand new building. They were brought in to help manage costs.

Edited January 19, 2016 by CLT2014

[Spartan]

On 1/18/2016 at 5:13 PM, cjolley92 said:

I apologize in advance if this has already been addressed, and I didn't want to bump up its given thread, but I have wondered this for quite some time: is the "now leasing" banner atop The VUE ever going to come down? Isn't it mostly/fully leased now?

Yes. They are letting Mother Nature take care of that for free.

[dcharlotte]

On January 19, 2016 at 3:50 PM, CLT2014 said:

Belk has a lease through 2020. The article indicates Belk said no thanks to renegotiating their lease early with the landlord that owns half of their complex and has forced that landlord to sell to the investor that own the other half of the property. This is a win for Belk as they only have to negotiate with one landlord when their lease expires in 2020. Managing a relationship with two landlords over the same campus must have been a nightmare. Smart move by Belk and as the article indicates, this doesn't affect their current occupancy and I wouldn't expect them to move to Uptown anytime soon. Their rent sounds dirt cheap at LakePointe... the new private equity owners of Belk aren't going to move to a more expensive brand new building. They were brought in to help manage costs.

They played that smart. Why negotiate your lease now when the office market may significantly improve in a few years to the advantage of Belk? They were looking to have them sign a lease extension and then sell the value of that future contract to make them a ton of money (also smart).