Leveling up Legacy Union
Plus: Highwoods’ high-profile South End site; Johnston YMCA working with a developer; Apartment rents drop; Levine Museum’s upcoming facility; Fascinating mix of amenities at North Meck apartments
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Welcome back to our weekly look at Charlotte real estate and development news. Charlotte Commercial Real Estate Whispers is your home for the dirt on Charlotte’s dirt — transactions, rezonings and notable projects.
Let me know what you and your CRE insider friends are talking about at ashley@cltledger.com.
In today’s edition:
What’s next for Highwoods Properties in Charlotte
What we’re hearing about the Johnston YMCA site in NoDa
How apartment rents are trending across the Charlotte region
A look at the Levine Museum of the New South’s upcoming new home
And a wrap-up of land deals and real estate news from other sources
How Highwoods quickly became a major Charlotte office player
Raleigh-based Highwoods Properties has quietly become a prolific office landlord in Charlotte — particularly notable because the company didn’t have a single office building here just a few years ago.
Now, Highwoods owns three Legacy Union towers (well, four if you count the parking deck, which you probably should, since it sold for $110M), and the REIT’s purchases at the uptown site totaled more than $1B. It also owns Capitol Towers (two office towers, plus Legion Brewing and Novant Health Pediatrics) and One, Two and Three Morrocroft Centre in SouthPark.
What’s perhaps flown most under the radar is that Highwoods owns a very high-profile slice of land in South End, at 1426 S. Tryon St. It’s the home of a busy ABC store with a lease that happens to expire next year.