For example, the Bank of America has bulldozers clearing a site for construction of a $13.8 million, 120,000-sf building at Huntersville Business Park, just 20 miles north of Charlotte. The bank is the developer of this 640-acre park, about half finished with almost 800,000 sf in 10 buildings. The Bank of America oversees the park for its pension fund, the park's owner. This latest class A, four-story office building will front Interstate 77 at exit 23 in Huntersville, NC.
Childress Klein Properties Inc. has a third office building under way at LakePoint Corporate Center off Billy Graham Parkway and Tyvola Road. This 120,000-sf, four-story building is being built on spec and should be finished in the spring. This will bring the total square footage in the park to 450,000. LakePoint Corporate Center has been designed to house up to 2.5 million sf.
The Trammell Crow Co. plans a 70,000-sf, one-story office building at its Forest Park development at Interstate 77 and Arrowood Road. This building is also being built on spec and is expected to be completed by the second quarter of 2001. The 175-acre Forest Park development contains 350,000 sf in six buildings.
High Associates Ltd. has begun construction on the first of two 100,000-sf buildings it plans for a $20-million office project called Mallard Point. The 19-acre development will be at West Mallard Creek Church Road and David Taylor Drive in the University area. The first of the two buildings are likely to lease for about $18 per sf to $20 per sf and should be ready for occupancy by late summer.
In Charlotte, a vacant industrial building on West Morehead Street area is undergoing a $3 million renovation, a project that will help bring that part of town out of the shadows. The 63,000-sf, four-story former warehouse, which had been vacant for several years, is being converted into office space. Owners Brent and Alan White also plan to add a 7,000-sf restaurant and 8,000-sf patio on the roof.
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