200 S. Tryon Square is a 210,246 square foot Class A office building constructed in 1962. The facility underwent extensive renovation in 2000 and 2001. The building is currently 94% leased by strong credit national and regional tenants such as Wachovia, Cole Jenest & Stone, Flores & Associates and McCormick & Schmicks.
Location: Charlotte, North Carolina. (Central Business District). The CBD office market is comprised of 12,773,823 total square feet and represents approximately 38% of Charlotte’s office stock.
Charlotte boasts the nation’s largest concentration of bank corporations outside of New York City. Extremely constrained Class A office market conditions in the CBD have as of mid year 2007, reduced vacancy to a record level of 3.08%: the lowest office CBD vacancy rate in the United States. It is expected that Charlotte’s CBD will remain among the lowest in the nation until late 2009—early 2010, when the addition of 2.7 million square feet of new space is expected. However, at present approximately 44% of the new space is pre-leased thus offsetting the impact of new product delivery. Overall at mid year 2007 over 3.1 million square feet of space is under construction. Nonetheless, the average asking full service rents increased at the second quarter to their highest level over the past 13 quarters. Charlotte’s unemployment rate dipped in the second quarter of 2007, falling from 4.2% in January to 3.8% Regionally; new investments as well as expansions have pushed the unemployment rate to its lowest levels since 2000. Moreover, the housing market continues to outperform national averages.
200 South Tryon is strategically located in the heart of downtown Charlotte, between the corporate headquarters of First Union and Bank of America, at the prominent corner of South Tryon and 4th Streets. The 4th Street corridor is the primary entry point to downtown from the executive housing areas of southeast Charlotte. Additionally, 200 South Tryon offers convenient access for downtown commuters arriving from I-85, I-77 and I-277. 200 South Tryon is also centrally located near many fine amenities in downtown.
Floor Plates
200 South Tryon offers efficient and flexible floor plates that can accommodate a variety of tenant space requirements:
Podium Floors – Floors 2-4 offer large floor plates of 25,750 RSF each, which allow a tenant to maximize the efficiency of its floor layouts. These floors enjoy views of the streetscapes and tree canopy along South Tryon and 4th Streets. A tenant occupying all three floors will enjoy the exclusive use of a private passenger elevator and staircase. A service elevator also accesses these floors.
Tower Floors – Floors 5-16 have floor plates totaling 10,220 RSF and offer exciting opportunities for full-floor occupancy to tenants that would not enjoy such a presence in a building with larger floor plates. These floors benefit from a virtually column-free work area, resulting in maximum flexibility for floor layouts. Additionally, these floors enjoy a high glass-to-floor area ratio, which provides abundant natural light to interior workspaces. These floors offer sweeping vistas of the tree canopy and mountains to the north and west and of the vibrant downtown Charlotte setting to the south and east along Tryon and 4th Streets.
Penthouse – The Penthouse, totaling 3,330 square feet, offers exciting opportunities for a boardroom, conference and meeting space, executive offices or an executive dining area. The Penthouse also offers an opportunity for an outdoor patio with impressive views of the downtown skyline to the south and east and the mountains and tree canopy to the west and north.
Lower Level – Lower Level 1, totaling 17,445 square feet, and Lower Level 2, totaling 6,600 square feet, offer unique, economical space that is ideally suited for back office operations, storage, break areas or a cafeteria. This space can accommodate floor-to-ceiling heights of up to 10 feet, which will provide an open and spacious feel. In addition to the five elevators that serve the entire building, a tenant that also occupies space in the Lobby and Podium Floors may access this space via the private passenger elevator and staircase mentioned above.
Parking
200 South Tryon offers up to 95 spaces in the adjacent First Citizens parking deck. In addition to the First Citizens deck, parking is available at the Auto Park and Allright parking decks, both conveniently located within 100 yards of 200 South Tryon. Tenants may secure additional reserved and unreserved permits at these decks through Central Parking Systems and Spectrum Properties.
Elevator Service
Five (5), fully modernized high-speed passenger elevators provide the highest level of service available and minimize wait time.
HVAC
200 South Tryon implements a modern Heating, Ventilation & Air Conditioning (HVAC) system with constant-volume, fan-powered terminal units. There are 16 zones per floor on the podium levels (1 zone per 1,500 square feet) and 9 zones per floor on the Tower Levels (1 zone per 1,100 square feet). With this extensive coverage, the HVAC system is designed to meet tenants’ demanding needs of today and tomorrow.
Electrical
200 South Tryon provides ample electrical power equaling 2 watts per square foot of 277/480 volts for lighting and 2 watts per square foot of 120/208 volts for equipment and receptacles, which should meet a tenant’s standard requirements. Additional power is available in the bus duct for a tenant’s use. Distribution of this additional power is at the tenant’s expense and will be sub-metered.
Life Safety
200 South Tryon provides a fully sprinklered building as part of a comprehensive life safety system that promotes a safe work environment.
Tenant Services
Welcome to Tenant Services. In this section you can locate and print a desired Building Form, browse through the Tenant Information Manual for important building and emergency information, use the Resource Schedule to reserve a variety of building amenities and conveniently submit important information to the Management Team.
Work Orders are instructions sent to Property Management requesting a specific type of repair work to be performed within your suite of offices. You may submit a work order request by completing the Work Order Form. Work Order Form
The Visitor Authorization Form allows a tenant to notify Property Management and Security of a visitor or vendor that is visiting the tenant's suite. You may submit a visitor authorization by completing the Visitor Authorization Form. The building personnel will be expecting your visitors and will therefore further enhance building security and customer service.
200 South Tryon offers unique amenities that compliment the building’s high quality, Class A setting
Access Control – 200 South Tryon enjoys a electronic card access control system for after-hours entry. A security staff is also on site 24 hours, seven days a week. Tenants will also have the option to tie the card access system for their premises into the base building system for maximum access control.
McCormick & Schmick's – Seafood Restaurant is a leading national seafood restaurant operator in the affordable upscale dining segment. Daily-printed menu typically contains between 85 and 110 made-to-order dishes, including an extensive selection of international, national, regional and local species of seafood. Signature "Fresh List," prominently displayed at the top of the daily-printed menu, typically contains 30 to 40 varieties of fresh seafood, based on product availability, price and customer preferences.
Storage – 200 South Tryon offers up to 20,000 square feet of on-site storage on Lower Level 1 and Lower Level 2
Conference Room Reservations
Contact Property Management to reserve the South Tryon Square conference room -
704-556-9500
Detroit group buys S. Tryon tower
Charlotte Business Journal
MayfieldGentry Realty Advisors Inc. of Detroit has closed on its anticipated purchase of the 200 South Tryon building in uptown Charlotte.
The purchase price was not disclosed, but sources close to the deal peg it at $38 million -- nearly twice the appraised value of the 17-story, Class-A office building.
MayfieldGentry, an institutional investment adviser, bought the 210,246-square-foot facility for an institutional client, whom it declines to name. The seller was a limited liability company affiliated with Stamford, Conn.-based GE Asset Management.
The building is 94 percent leased, with tenants including Wachovia Corp., landscape architecture and civil engineering firm ColeJenest & Stone and a McCormick & Schmick's seafood restaurant.
"This is a terrific property in a very strong location which offers a strong income stream," says Chauncey Mayfield, president and chief executive of MayfieldGentry.
Last month, the Charlotte Business Journal reported MayfieldGentry had the building under contract.
The deal is the company's second in Charlotte in recent months. In September, it bought the 201 and 237 S. Tryon St. buildings for $68.5 million. That space totals 238,000 square feet, and Charlotte-based Wachovia (NYSE:WB) is the primary tenant.
"Despite significant levels of planned office development in this market, the economic fundamentals indicate that Charlotte will continue to grow in stature as a commercial center," Mayfield says of his company's interest in the Queen City.
MayfieldGentry, founded in 2003, has approximately $500 million in assets under management. The company's portfolio totals more than 2.3 million square feet and includes the 513,000-square-foot AMEX Center campus in Phoenix and the 308,000-square-foot Dublin Town Square retail center in Dublin, Calif.
Questions or comments regarding leasing opportunities or general inquiries should be directed to: Spectrum Properties leasing agent
Ted Lee @ 704-358-1000
