The Colliers Government Solutions team represents owners of government-leased properties nationally. So, we travel a lot. This slideshow profiles my recent trip to Charlotte, North Carolina. (Use arrow buttons to advance slides)
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Queen City
https://www.capitolmarkets.com/wp-content/uploads/slideshow-gallery/Queen City.jpgCharlotte is known as the "Queen City" and the crown motif can be found everywhere, even on the street signs. Charlotte was founded in 1768 at the intersection of two indian trading paths now known as Trade and Tryon Streets, which intersect in the heart of the city. The city was named for Queen Charlotte, wife of King George III--the very king who would later unsuccessfully put down the American Revolution and who would ultimately grow completely insane. (Photo: Patrick Schneider - not my own)
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GSA Leases
https://www.capitolmarkets.com/wp-content/uploads/slideshow-gallery/Charlotte GSA Locations.jpgEven though Charlotte is the largest city in North Carolina it doesn't have a large federal presence. The metro area contains 37 leases totaling just 855,920 RSF. Many of the federal leases are located in the downtown, that cluster near the center of the map. Yet, a similar concentration of federal space is in the Airport submarket just south of Charlotte-Douglas International.
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Federal Reserve
https://www.capitolmarkets.com/wp-content/uploads/slideshow-gallery/Federal Reserve.JPGThis average-looking, 1980s-vintage grey building is the Charlotte Federal Reserve. It's logical that the Fed would locate in Charlotte, considering that the city is the second largest financial center in the U.S. (behind New York City). North Carolina was the first state to allow banks to operate multiple branches under a single charter, a move that would spawn some of the nation's largest financial institutions. Today, Charlotte is home to the headquarters of Bank of America and the east coast operations of Wells Fargo.
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Charles R. Jonas Federal Building
https://www.capitolmarkets.com/wp-content/uploads/slideshow-gallery/Courthouse.jpgLike many federal courthouses, this one originally served as the Post Office. The U.S. Postal Service may still maintain a presence here but the historic building at 401 West Trade Street is now home to the United States District Court for the Western District of North Carolina. The building has been a perennial entrant near the top of the list of courthouses slated for replacement by the Judicial Conference. In 2005 the federal government even went so far as to deed the property to the City of Charlotte in exchange for land across from the aforementioned Federal Reserve building a few blocks away. Alas, the Judicial branch is not exempt from budget pressures and there is no money available for new construction.
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Bacon Wrapped Tater Tots…with Maple Glaze
https://www.capitolmarkets.com/wp-content/uploads/slideshow-gallery/Bacon-wrapped tater tots.jpgNo more need be said. Visit Fran’s Filling Station, a small café located in a non-descript strip center south of the city on Park Road. You can thank me later.
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FBI Field Office
https://www.capitolmarkets.com/wp-content/uploads/slideshow-gallery/FBI Charlotte.JPGI always get spooked taking photos of FBI buildings because when I’m taking a picture of them I assume they’re taking a picture of me. Therefore, this photo is courtesy of the developer, Highwoods. The 171,460 RSF field office is now owned by USAA. It is a typical field office build-to-suit with secured perimeter, 100 foot standoff and an on-site vehicle maintenance facility.
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CIS Building
https://www.capitolmarkets.com/wp-content/uploads/slideshow-gallery/CIS Building.jpgThis property, 100% occupied by the U.S. Citizenship and Immigration Services, had been owned by Starbury GSA, an entity controlled by Stephon Marbury (yes that Stephon Marbury, the former NBA all-star who now plays basketball in China for the Beijing Ducks). At one time Marbury owned several GSA-leased properties but all of them went to the special servicers. This one was foreclosed and subsequently sold late last year for $7,025,000 ($135/RSF), almost $1.2 million less than the reported amount of foreclosed debt.
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CBP Service Port
https://www.capitolmarkets.com/wp-content/uploads/slideshow-gallery/1901 Cross Beam.jpgA Service Port is a U.S. Customs and Border Protection location that provides a full range of cargo processing functions, including inspections, entry, collections, and verification (this description is about the most detail you'll hope to find through googling). There are 46 of these facilities in the United States, including this 34,557 RSF facility in Charlotte, the only one in North Carolina.
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NASCAR Hall of Fame
https://www.capitolmarkets.com/wp-content/uploads/slideshow-gallery/NASCAR HOF.jpgCharlotte is NASCAR country and the NASCAR Hall of Fame was located just one block from my hotel. So, I had to go visit. This exhibit named “Glory Road” shows 18 iconic race cars on a replica speedway that arcs around the edge of the exhibit hall. That #3 car is, of course, the one driven by the late Dale “The Intimidator” Earnhardt, winner of 7 NASCAR championships. Only Richard Petty has as many.
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https://www.capitolmarkets.com/wp-content/uploads/slideshow-gallery/THE END.JPG