2 Duke Energy buildings in uptown Charlotte now for sale as utility reduces footprint
Duke Energy Corp. has detailed its plans to reduce its uptown Charlotte office space as part of its consolidation plan.
On Wednesday, properties at 526 S. Church and 401 S. College streets were listed for sale, company spokesman Neil Nissan said.
It’s part of the Charlotte-based power company’s long-term workplace strategy that will cut its real estate footprint by 60%, reducing its footprint from 2.5 million square feet to 1 million square feet in the next two years, the Observer reported in May.
The two sites have a combined appraised value of about $138 million, county records show.
“Divesting these properties is part of our plan to consolidate our office space in uptown Charlotte as we prepare to transition into the Duke Energy Plaza,” Nissan said.
Duke Energy will move its headquarters from 550 S. Tryon St. into a 40-floor office building under construction at 525 S. Tryon St. by 2023, the Observer previously reported. About 4,400 employees are expected to work from the new headquarters at Duke Energy Plaza, formerly called Metro Tower.
No sales prices are listed for the buildings.
The 2.3- and 3.7-acre properties are listed by commercial real estate company JLL as “an iconic mixed use redevelopment opportunity.”
“This is an incredible opportunity that represent both a full city block and half block within major employment corridors of Charlotte,” the flyer states.
Offers on the properties are due by the end of the year, Nissan said, with sales expected early next year.
More about the Duke Energy properties
Both sites, zoned for mixed-use development, are in the heart of uptown offering walkable amenities and light rail access.
Both sites have no height restriction and can accommodate office, multifamily, hotel and retail development, according to JLL’s marketing information.
▪ The five-floor, 401 S. College St. building is adjacent to the Charlotte Convention Center. The property was purchased in 1983 for nearly $7 million, according to Mecklenburg County property records. The appraised value is now over $50.7 million, records show.
▪ The 13-floor, 526 S. Church St. is adjacent to Bank of America Stadium. The property was purchased in 1995 for $29 million, county records show, and is now appraised at more than $87 million.
This story was originally published September 8, 2021 at 12:06 PM with the headline "2 Duke Energy buildings in uptown Charlotte now for sale as utility reduces footprint."