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Welcome back to our weekly look at Charlotte real estate and development news. Charlotte Commercial Real Estate Whispers is where you can get the first dirt on transactions, rezonings and projects happening across the Queen City.
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In today’s edition:
On the heels of JPMorgan Chase’s recent lease, a closer look at how competitive SouthPark office space is getting
“I’m using it on a daily basis:” How commercial real estate is adopting artificial intelligence
Manor Theatre site’s public hearing
Take a peek at Wegmans’ progress in Ballantyne
And a wrap-up of land deals and real estate news from us and other sources
A game of musical chairs is happening SouthPark with recent office leases; submarket is tightening up, which means tenants will have to pay higher rents
A collection of two-story buildings across from the entrance to SouthPark Mall that are 40+ years old (right) was sold a couple of years ago to Charlotte insurance company Amwins, which plans to build an office tower on the site. (File photo)
It’s a space race in SouthPark, with JPMorganChase’s confirmation of its big office lease at Piedmont Town Center this week underscoring just how tight the submarket is getting for space.
It’s a trend we’ve been observing in Charlotte’s core office markets, including South End, but both longtime tenants and companies new to the area in SouthPark have been quickly locking down space, creating what one broker predicts could be 0% vacancy (within Class A office) by the end of the year.
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