PhoneTree doubles space via downtown W-S move

Posted on October 28, 2010 by - Greensboro/Winston-Salem/High Point, In the News, Office

October 18, 2010
The Business Journal of the Triad

Phone-Tree, a 21-year-old firm that provides messaging and communication services to churches, hospitals and others, has relocated 50 employees from Reynolda Road to downtown as part of an expansion.
The firm doubled its space, occupying all 16,000 square feet of Winston Tower’s 18th floor….

Asking rates in the building are around $12 per square foot, Kelley said, which is slightly below the $13 average for “Class B” properties that research firm The Karnes Report has been finding in the Triad for the past two years or more.

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High-rise once known as Wachovia Center for sale

Posted on October 18, 2010 by - Charlotte, In the News, Office

October 18, 2010
Charlotte Business Journal

A major uptown office tower is for sale, and the interest it generates could be a barometer for the health of Charlotte’s commercial real estate market. The 400 South Tryon building, owned by an affiliate of UBS Realty Investors, has been listed for sale with CB Richard Ellis Group Inc….

Uptown’s vacancy rate has ballooned to 12% from 2.5% in 2008, according to Karnes Research Co. Andrew Jenkins, managing partner at Karnes, expects 400 South Tryon will fetch between $150 and $200 per square foot, or $88 million to $117 million…Says Jenkins: “If they move out, you’ve got a lot of available space at an affordable rate, relatively speaking, so it might be a good long-term play.”

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