For example, in Winston-Salem, the largest of the Triad cities, Magnolia Partners has stirred up enthusiasm for Downtown revitalization by announcing plans for One West Fourth Street, a new high-rise. Wachovia has been signed as a tenant in the 300,000-sf to 400,000-sf office, retail and restaurant complex.
Downtown Greensboro, NC is seeing the results of revitalization efforts as local developers continue to renovate properties along South Elm Street, including the historic Kress & Co. building.
In addition, on North Elm Street plans for an office condominium park, a regional headquarters for United Healthcare of North Carolina, a fitness center and other commercial projects have been announced.
During the past year in High Point, NC furniture companies have spent millions of dollars on new buildings and expansions. A large retail center near Oak Hollow Mall is among the newly-planned projects.
Carl Essa, president of Essa Commercial Real Estate in Greensboro, says, in a published report, his company hasn't had difficulty finding tenants for the 450,000-sf of office and retail space it handles.
According to another published report, Dwain Skeen of Skeen Commercial-Industrial Real Estate in High Point says a shortage of industrial properties under 20,000 sf should keep builders busy. There is also a demand for warehouses on the south side of the city as the furniture industry continues to prosper, Skeen says.
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