Global real estate development company, Portman Holdings, shared design details and renderings for its 19-story office tower under development in Uptown Charlotte. The developer has begun the permitting process and anticipates breaking ground in June of 2015. 615 South College will be marketed and leased by Travis Garland from Portman in conjunction with Charlotte-based Trinity Partners, and is expected to be completed by Q4 2016. Portman Holdings has been active in the Charlotte market since its development of the adjacent Westin Hotel, which opened in 2003.
Portman’s new 370,000 sq. ft. class A office building is aiming to achieve LEED Gold certification, and will incorporate unique features such as an elevated green plaza, two-story corner balconies, floor-to-ceiling windows, unmatched signage opportunities to I-277, fitness center with locker rooms and a conference facility. The tower will be built on top of an existing underground parking deck. The deck’s existing structure allows for a timely completion in the last quarter of 2016.
In addition to the building’s amenities, tenants will benefit from the amenities of the adjacent Westin Charlotte Hotel, including a full-service restaurant and bar, sauna, indoor heated pool, Starbucks, FedEx (formerly Kinko’s) and 44,000 sq. ft. of meeting space. The office will provide tenants direct, on-site connectivity to the Charlotte LYNX light rail system and proximity to nearby attractions including South End, BB&T Ballpark, The Green, The Mint Museum and numerous bars and restaurants.
Portman believes Charlotte is an attractive city, poised for growth. Their bullishness on the development of 615 South College further demonstrates the developer’s commitment to Charlotte’s central business district.
“Portman has always recognized significant potential in Charlotte. We’ve been invested in this market since 1998″”when we began development of The Westin Charlotte, which we still fully own. This city continues to be a desirable, high quality office market and an attractive lifestyle destination, so we’re naturally thrilled about this office development.” said Ambrish Baisiwala, CEO of Portman Holdings.
“Portman has historically developed iconic Class A office buildings, and we’ve taken our time to progress this design to create an extremely special and unique location,” said Travis Garland, Portman’s Director of Leasing. “This building will offer unmatched branding opportunities for large tenants, provide efficient floor plates, and it will be a distinct landmark in the Charlotte skyline. From a Tenant’s perspective, this will be one of the premier office buildings and addresses in Charlotte.”
This investment in Charlotte ties into the company’s business strategy of developing in primary locations within the nation’s fastest growing Tier 2 cities such as Charlotte. Charlotte’s economy grew an average of 4.9% annually between 2001 and 2012 (the US average annual growth rate in that same period was only 4.0%). The city is home to eight fortune 500 companies, and has a diverse economy””no single sector dominates the employment market. Uptown Charlotte, where 615 South College is located, has maintained an average Class A vacancy rate of just 6.8% since 2000.
The building is being designed by internationally renowned architectural design firm, John Portman & Associates, the same architects behind the design of The Westin Charlotte. The firm has a long history of designing state-of-the-art office buildings. Principal and design director Gordon Beckman, AIA, describes the vision behind 615 South College: “It’s a pleasure to be back in Charlotte again. The Westin was always intended to be a mixed-use project, bringing the natural synergies of office and hotel together to create an active 24/7 place. This extension relates to the Westin, but takes on its own special image. Connected to the urban environment through unique open garden terrace floors, and floor-to-ceiling glazed exterior walls, it presents a new progressive working environment””a next generation work place. Arising out of a performance-based model, it optimizes daylight and provides incredible urban and country views while being environmentally sensitive. It is expected to achieve a LEED Gold rating. We are thrilled to contribute to this new paradigm office environment.”
About Portman Holdings
Throughout the past 60 years, Portman Holdings has developed over 55 million square feet of premium real estate across the world with a focus on hospitality, office and mixed-use properties. The vertically integrated real estate development, investment and management company commands a successful global network and has a proven track record with the world’s top financial institutions. Teams in the company’s global offices seamlessly connect to develop, finance and manage a diverse portfolio in the world’s core and emerging markets. Portman Holdings continues to achieve success through investor, partner, and client relationships that deliver exceptional real estate projects. For additional information, visit https://www.portmanholdings.comand follow the company on Twitter via @PortmanRE.
About John Portman & Associates (JPA)
John Portman & Associates, Inc. (JPA) is an internationally renowned architectural design firm with offices in Atlanta and Shanghai. Established in 1953, JPA has over 60 years of expertise in designing hotels, offices, residences, and mixed-use urban complexes. JPA projects can be seen in more than 60 cities worldwide. The firm’s architecture transcends national borders by striving for universal human appeal, delivering a memorable experience for users and a sound investment for owners and operators. For more information on John Portman & Associates, visit http://www.portmanusa.comand follow the company on Twitter via @JPortmanAssoc.
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Edelman
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