Duke Energy Formally Lists 2 Uptown Charlotte Sites For Sale
Duke Energy has officially put two of its buildings in uptown Charlotte on the market as part of a plan to cut its Charlotte office space by 60%.
The Charlotte-based company has listed 526 South Church St. and 400 South College St. for sale. Duke also announced plans in May to move its headquarters across South Tryon Street into a new office tower under construction. Altogether, Duke has said it plans to reduce office space from 2.5 million square feet to 1 millions square feet over the next two years.
"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," spokesperson Neil Nissan said. "We expect marketing to continue throughout the fall with offers due by end of this year."
Both properties are in the rapidly developing South Tryon area and could attract intense interest from developers because of their locations.
Nissan said the company hasn't set asking prices for either site. The Church Street building, once Duke's headquarters, is diagonally across Stonewall Street from the Carolina Panthers NFL stadium. It has a tax value of $87 million, according to Mecklenburg County property records.
The South College Street building is next to Charlotte Convention Center and has a tax value of $51 million.
Duke's new 40-story tower on South Tryon Street is expected to open in 2023. It's expected to house about 4,400 of Duke's current 6,000 uptown Charlotte employees and contractors.
Duke leases its current headquarters on South Tryon Street from Wells Fargo. Wells has said it plans to move its own employees to the building.