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Welcome back to our weekly look at Charlotte real estate and development news. Charlotte Commercial Real Estate Whispers is the best way to get the latest dirt on transactions, rezonings and projects happening across the Queen City.
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In today’s edition:
Highwoods execs feel more upbeat about development (and Charlotte more generally)
A prolific Charlotte commercial real estate firm cuts jobs
Restaurant coming soon to The Pearl?
More cheesecake for Charlotte metro
And a wrap-up of land deals and real estate news from us and other sources
Highwoods, which now owns 2.4M sq ft in SouthPark and uptown, is preparing to do more development
It’s no secret that new office development has been slow, in Charlotte and elsewhere, for a few years now, primarily because of how expensive new construction is nowadays. In fact, the only new office space underway in town is the Queensbridge Collective project in South End, and much of that has already been spoken for.
But executives at Highwoods Properties — the Raleigh-based REIT that now owns about 2.4M sq. ft. of office space in uptown and SouthPark, plus a prime development site in South End — during the firm’s earnings call this morning expressed optimism that new development will start to make sense in its core markets (which include Charlotte) in the coming quarters.
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