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Commercial Real Estate

Act II, Scene I: City expected to start negotiating with film studio over development at abandoned mall (access required)

movie camera

The city’s Economic Development Committee last week made a decision that increased the likelihood of an ambitious $300 million film studio being built on the East Side. The committee, which includes Mayor Pro Tem Patrick Cannon and City Council members Warren Cooksey, David Howard, LaWana Mayfield, and James Mitchell, will recommend on Aug. 26 that the full City Council vote to enter into a memorandum of understanding with Studio Charlotte Development, starting exclusive negotiations with the company.

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Strand Development names Andrew J. Pace senior vice president (access required)

Strand Development Co., LLC, a third-party hotel management company with a Charlotte presence, announced it has named Andrew J. Pace as senior vice president. Pace will be responsible for the company’s strategic growth, including the expansion of its third-party management, development, acquisitions and joint venture partnership platforms.

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ODC: On developing Charlotte (access required)

A crew for ODC, a Florida-based shell builder, lays a foundation on a home on Lake Down in Florida. ODC has opened a Charlotte office and plans to
begin projects here soon. Photo courtesy of ODC Construction

CHARLOTTE – Economics professors often use the pie analogy when explaining the concept of markets. You’ve heard it. The more competition in an individual market, the smaller the slice of pie each competitor is able to take. But Isaac Lidsky, CEO ...

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SouthPark office space in demand (access required)

One SouthPark Center, shown here, was sold earlier this year, one of the few buildings to have been sold in SouthPark over the last few years. Photo by Payton Guion

With vacancy rates well below market norms and above-average rents, this office submarket in south Charlotte continues to be one of the strongest performers in the city. Second-quarter numbers from Charlotte-based Karnes Co., an office-industry analytics firm, show that the SouthPark office market is healthier than it’s been since 2009.

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Tenant-acity In the complicated sphere of tenant-owner relationships, tenants are demanding more (access required)

Magnified buildingWEB

Not long ago, when potential tenants were seeking office space across the city, they were at the mercy of the landlord or owner.Those conversations changed during the recession, when vacancy rates were climbing and landlords were grasping for tenants. But as Charlotte moves back toward a landlord’s market, tenants aren’t relinquishing all the cards they’ve been handed.

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