{"id":1004491339,"date":"2020-11-17T13:09:37","date_gmt":"2020-11-17T21:09:37","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004491339"},"modified":"2021-09-10T03:28:34","modified_gmt":"2021-09-10T11:28:34","slug":"top-5-office-projects-under-construction-in-charlotte","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/top-5-office-projects-under-construction-in-charlotte\/","title":{"rendered":"Top 5 Office Projects Under Construction in Charlotte"},"content":{"rendered":"

Charlotte has benefited from continued migration, maintaining its status as one of the nation\u2019s fastest-growing metros<\/a>. As of November, CommercialEdge identified some 5.2 million square feet of office space under construction. Close to 1 million square feet are scheduled for delivery by year-end, including some of the metro\u2019s largest upcoming office projects. Year-to-date, nearly 320,000 square feet have come online.<\/p>\n

Although construction activity slowed down this year, a handful of new projects broke ground<\/a> nevertheless. Charlotte\u2019s diverse economy made way for a new influx of campus expansions, as well as taller and bigger buildings\u2014the future Charlotte Metro Tower was the largest one to break ground in the past decade. The list below highlights the largest office projects underway in the metro as of November, based on CommercialEdge data.<\/p>\n

5. Ballantyne Corporate Park – 13146 Ballantyne Corporate Place<\/h2>\n
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Ballantyne Corporate Park. Rendering courtesy of Northwood Investors<\/em><\/p><\/div>\n

In May 2019, Northwood Investors broke ground on 13146 Ballantyne Corporate Place, a 328,000-square-foot asset within Ballantyne Corporate Park. The 535-acre mixed-use campus is located in Charlotte\u2019s Highway 51 submarket and is considered one of the largest campuses under single ownership in the country. Additionally, the project represents Northwood\u2019s first development since acquiring the majority of the Ballantyne portfolio in 2017.<\/p>\n

Upon completion, scheduled for March 2021, the 11-story building will include a 1,312-space parking structure shared with the upcoming Ballantyne Corporate Park residential tower\u2014the first apartment building within the complex. Wells Fargo financed the construction with a $121 million loan.<\/p>\n

4. Lowe’s Global Technology Center<\/h2>\n
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Lowe’s Global Technology Center. Image courtesy of Lowe’s<\/em><\/p><\/div>\n

A joint venture between Childress Klein and Ram Realty Advisors is developing Lowe’s Global Technology Center, a 377,956-square-foot building in Midtown-South End. The $153 million project broke ground in August 2019, with completion estimated for the second quarter of 2021. Architecture firm Little Diversified provided the design services.<\/p>\n

The 23-story tower, the tallest office building underway in the South End neighborhood, will include 357,956 square feet of office space, 20,000 square feet of first-floor retail and nine levels of parking. It will serve as Lowe\u2019s newest<\/a> global tech hub, housing nearly 2,000 of its technology employees. Located at 100 W. Worthington Ave., the asset is rising adjacent to the Lynx Blue Line light rail and Rail Trail. <\/p>\n

3. Legacy Union – 650 South Tryon<\/h2>\n
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Legacy Union – 650 South Tryon. Image via Google Street View<\/em><\/p><\/div>\n

The 370,240-square-foot building at 650 S. Tryon St. is a Lincoln Harris project taking shape in Charlotte\u2019s CBD. Rising 18 stories on the former site of The Charlotte Observer, the development represents the final phase of the two-building Legacy Union campus. When completed at the end of 2020, the tower will add 362,448 square feet of office and 7,792 square feet of retail space to the market\u2019s total inventory.<\/p>\n

U.S. Bank funded construction with an $88.1 million loan. Deloitte signed a 90,000-square-foot lease in December 2018 and will serve as the anchor tenant. The development team included architect companies LS3P and HKS and general contractors Gilbane Building Co. and Shelco.<\/p>\n

2. Ally Charlotte Center<\/h2>\n
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Ally Charlotte Center. Rendering courtesy of Crescent Communities<\/i><\/p><\/div>\n

Another project emerging in the CBD is Crescent Communities\u2019 Ally Charlotte Center. The 743,600-square-foot development at 601 S. Tryon St. spreads a full city block and includes 717,000 square feet of office space, 26,600 square feet of ground-floor retail, a 12,000-square-foot public plaza, a 1,436-stall parking garage and a 381-key JW Marriott hotel developed by White Lodging.<\/p>\n

The 26-story Ally Charlotte Center is expected to come online in the first quarter of 2021. The project takes its name from anchor tenant Ally Financial, which will consolidate its Charlotte team within the building and take up 400,000 square feet<\/a>.<\/p>\n

1. Charlotte Metro Tower<\/h2>\n
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Charlotte Metro Tower. Rendering courtesy of Duke Energy<\/em><\/p><\/div>\n

The largest office property under construction in the metro is Charlotte Metro Tower, another project taking shape in the CBD. Encompassing 1 million square feet of office space and 25,000 square feet of retail, the tower is scheduled for delivery in March 2022. Once delivered, Charlotte Metro Tower will be the fourth-largest office building in the city and the largest one to break ground in a decade. The architect in charge is tvsdesign, while Batson-Cook Construction serves as the general contractor.<\/p>\n

Duke Energy started construction on the 40-story development in July 2019. The company subsequently sold the project in a sale-leaseback deal to a joint venture between CGA Capital and Childress Klein for $675 million. Located at 509 S. Tryon St., the upcoming asset is across the street from the company\u2019s current headquarters.<\/p>\n","protected":false},"excerpt":{"rendered":"

Nearly 5.2 million square feet of office space was underway in the metro as of November, according to CommercialEdge data. <\/p>\n","protected":false},"author":741,"featured_media":1004491342,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1582,21782,41288,21742,21747],"tags":[39329,33739,33484,33892,33056,34258],"class_list":["post-1004491339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-charlotte","category-development","category-rc-listicles","category-latest","category-office","tag-topofthelist","tag-childress-klein","tag-crescent-communities","tag-duke-energy","tag-lincoln-harris","tag-northwood-investors"],"acf":[],"yoast_head":"\nTop 5 Office Projects Under Construction in Charlotte - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/top-5-office-projects-under-construction-in-charlotte\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top 5 Office Projects Under Construction in Charlotte\" \/>\n<meta property=\"og:description\" content=\"Nearly 5.2 million square feet of office space was underway in the metro as of November, according to CommercialEdge data.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/top-5-office-projects-under-construction-in-charlotte\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-17T21:09:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-10T11:28:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/05.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Corina Stef\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/top-5-office-projects-under-construction-in-charlotte\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/top-5-office-projects-under-construction-in-charlotte\/\",\"name\":\"Top 5 Office Projects Under Construction in Charlotte - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/top-5-office-projects-under-construction-in-charlotte\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/top-5-office-projects-under-construction-in-charlotte\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/05.jpg\",\"datePublished\":\"2020-11-17T21:09:37+00:00\",\"dateModified\":\"2021-09-10T11:28:34+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/73262f140f4b0a11baea2dd6f27beadf\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/top-5-office-projects-under-construction-in-charlotte\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/top-5-office-projects-under-construction-in-charlotte\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/top-5-office-projects-under-construction-in-charlotte\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/05.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/05.jpg\",\"width\":800,\"height\":620,\"caption\":\"Ballantyne Corporate Park. 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