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STDIRICT YARDS onWESTMOREHEADDISTINGUISHED 4.68 ACRE ENTITLED HIGH-DENSITY MIXED-USE DEVELOPMENTOPPORTUNITY ADJACENT TO CAROLINA PANTHERS STADIUMCHARLOTTE, NCUPTOWN CHARLOTTE4 blocks awayCHARLOTTE, NCW MOREHEAD ST77D I S T R I C T YA R D S O N W E S T M O R E H E A D 1
IN THE HEART OF CHARLOTTE’S PLANNED ENTERTAINMENTDISTRICT 2 BLOCKS TO NFL CAROLINA PANTHERS STADIUM FUTURE SILVER LINE CONNECTIVITYMOREHEAD IMMEDIATE ACCESS TO I-77CHARLOTTE, NC LOCATED AT THE NEXUS OF 3 DISTINCT SUBMARKETS:UPTOWN, SOUTH END, WEST END DIRECT ACCESS TO STEWART CREEK GREENWAY DRISTICT YARDS onWESTINVESTMENT SUMMARYDISTINGUISHED 4.68 ACRE ENTITLED HIGH-DENSITY MIXED-USEDEVELOPMENT OPPORTUNITY ADJACENT TO CAROLINA PANTHERSSTADIUM CHARLOTTE, NCJones Lang LaSalle., a North Carolina licensed real estate broker (“JLL”),has been retained as the exclusive sales representative for District Yardson West Morehead, a 4.68 acre incredible high-density developmentopportunity located in the crosshairs of three of Charlotte’s most soughtafter corridors: Uptown, South End, & West End. Ideally situated in theheart of Charlotte’s planned Entertainment District – an area that hasbeen carefully crafted to be the next major entertainment and multimodaltransportation hub. This is an extremely rare opportunity adjacent to theplanned Silver Line, the NFL Carolina Panthers & MLS Stadium, anotherpotential professional sports stadium all while having immediate accessto I-77. Entitled for mixed-use development today, the property allows abuyer an exclusive opportunity for a large tract that is simply unheard-of intoday’s market.2 E XECUTIVE SUMMARYPROPERTY DETAILSADDRESS1040 W MoreheadCharlotte, NCNOTABLE FRONTAGE (APPROX.)260’ West Morehead675’ I-77MECKLENBURG COUNTY PIN07324208, 07324211, 07324227, 07324210MUNICIPALITYCity of CharlotteACREAGE (APPROX.) 4.68 acresCURRENT USEVacant/Surface LotOptionality for cashflow for parking for eventsZONINGMUDDBased on discussions with the City of Charlotte & CATS,JLL expects TOD-UC zoning to be achievableBY – RIGHT USESMultifamily, Office, Restaurant, Retail, HotelHEIGHT MAXIMUM120’Based on discussions with the City of Charlotte & CATS,JLL expects TOD-UC zoning to be achievable whichallows a height max of up to 300’.AVAILABILITYAvailable immediatelyPRICINGUnpriced
RECENTLY ANNOUNCED DEVELOPMENT ACTIVITYOFFICE DEVELOPMENTMULTIFAMILY DEVELOPMENTVANTAGE SOUTH ENDALLY FINANCIALTOWER782,000 SFUNDERCONSTRUCTIONGRAND BOHEMIAN HOTEL254 KEYSDELIVERY Q3 2020UPTOWNCHARLOTTEFNB TOWERTHE ELLIS156,415 SF OFFICE196 MULTIFAMILY UNITSDELIVERY Q2 2021549 MULTIFAMILYUNITS - LMCDELIVERY Q4 2020660,000 SF OFFICEMAJOR TENANT: LENDING TREEQ1 2021 DELIVERYSPECTRUM GOLDDISTRICT MULTIFAMILY303 UNITSDELIVERY Q2 2022HONEYWELL HQ280,000 SF OFFICEQ2 2021 DELIVERY362,500 SF OFFICEQ4 2020 DELIVERYBROADSTONE QUEEN CITYSOUTH END260 MULTIFAMILY UNITSDELIVERED Q3 2020LUXITY TERRACESCHARLOTTE GATEWAYSTATION AND DISTRICTAMTRACK STATION20 CONDOSDELIVERED Q3 2019CHARLOTTE PIPE AND FOUNDRY SITEPROPOSEDSILVER LINELIGHT RAILSTOP801 MCNINCHDISTRICTYARDS ON WESTMOREHEAD212 MULTIFAMILY UNITSPROPOSEDWEST2THE REFINERYKEESTTAREWCRPDPOTENTIAL LOCATION FOR NEW PANTHERS NFL STADIUM/MLS STADIUM WITH MIXED-USE DEVELOPMENT.RELOCATING IN 2023.144,000 VPDEE31 TOWNHOMES PRICEDFROM 650K Q4 2020 DELIVERY27700 V77AYNWALTURA SOUTH END99,5SILVER LINE STATIONPARTNERSHIP BETWEENCITY OF CHARLOTTE, CATS,MECKLENBURG COUNTY &NCDOTLINK APARTMENTSGOLD DISTRICT259 MULTIFAMILY UNITSDELIVERY Q3 2022DELOITTEPROPOSEDSILVER LINELIGHT RAILSTOPTHE RAILYARD328,097 SF OFFICE91 MICROUNITSDELIVERED Q3 2019WEST END132,000 SF OFFICE INSITE PROPERTIESDELIVERED Q2 20196,0 MO00 REVP HEADDPROPOSED OFFICEMAGNUS CAPITALPARTNERSGRCHARLOTTE DOUGLASINTERNATIONAL AIRPORT12 MIN AWAYD I S T R I C T YA R D S O N W E S T M O R E H E A D 3
VULas alle StAvBea ttie s Ford RdthStStamahRdGrrryVU5tTuckas eegee RdSAVONA MILL12dft RStth6tStWAshlehEStTrN1211dyRE375,000 SFhWT h ri27277Wyothoo d nPa rk wStell W StSt29WFre edo m DrthSITE LOCATION n290,000 sf officeProposedTh e Plaz aAlleghan y StW Trade StNFedkR30venAesWsoellAvethezzwnMaRok lareerC16gaOaVUS tates ville AveeRECENTLY ANNOUNCED OFFICE & MULTIFAMILY DEVELOPMENTRECENTLY ANNOUNCEDOFFICE DEVELOPMENTINCLUDES:uESdoBr ad foan85AtNorris AveIda ho Drrd Dr16StellSE 10th StVUt27Ce ntr al al282,000 SF Ra74ndvdeAv21,699118,846243,001Park Rd10,92482,562187,114Historical Annual Change (2010-2020)9.9%4.4%3.0%Avg Household Income 132,139 95,388 95,859Median Household Income 81,995 68,104 68,431Per Capita Income 75,989 46,147 42,953Median Home Value 441,233 470,162 301,909Avg Household Net Worth 849,463 703,667 6.218.720.4shRdjCollege Degree (Bachelor Degree or Higher)Median Age% HH Incomes over 100,000Average Travel Minutes to WorkSource: Regis4 E XECUTIVE SUMMARYS Kin gs DrKet A nilwve orthot5-mileCensus Population (2010)40,000 SFRd3-mile2020 Estimated Population140,000 SFM1-milearRadiusnRdMntonsC laeeSURROUNDING DEMOGRAPHICSQu176,000 SF77DISTRICT YARDS ON WEST MOREHEADScjEastw aRdBlyDrntstRdouEa49phmVUolRejonroeRd
CENTRIC GATEWAYGATEWAY CENTERSTATION297 unitsBuilt 2017 1.64 psf rentsFNB TOWERMULTIFAMILYASCENT UPTOWNFNB TOWER7741,000 sf office300 unitsBuilt 2017 2.66 psf rents156,415 sf officeUnder construction196 unitsUnder constructionBOXERBUILDING212 unitsProposed132,000 sf OfficeDelivered Q2 2019ARLO286 UnitsBuilt 2018 1.63 psf rentsPROPOSEDOFFICECHARLOTTE PIPEAND FOUNDRY SITE303 unitsUnder constructionPotential location forPanthers NFL Stadium/MLSStadium with mixed-usedevelopment. Relocatingin 2023.280,000 sf officeUnder constructionBANK OFAMERICA TOWER853,000 sfDelivered 2019SAVOY782,000 sfUnderconstruction259 unitsProposedRAILYARD91 unitsBuilt 2020 2.97 psf rentsVANTAGE SOUTH END580,000 sfUnder ConstructionLEXINGTONDILWORTH234 unitsBuilt 2016 2.13 psf rentsBROADSTONEQUEEN CITY260 unitsBuilt 2020 2.27 psf rentsTHE ARLINGTON40,000 sfBuilt 2002STRAWN COTTAGESREDEVELOPMENT725 unitsUnder ConstructionBLAND STATIONMixed use developmentProposed328,097 sfSTRATIFYD302 unitsBuilt 2018 2.11 psf rents277ALLYFINANCIALTOWERLINK GOLD DISTRICTWESLEY VILLAGE30,000 sf officeUPTOWN116,000 daily employees421 unitsBuilt 2019 2.24 psf rents362,500 sf officeUnder constructionHONEYWELL HQCENTRO RAILYARD MICRO UNITS72,309 SF OfficeProposed459 unitsBuilt 2018 2.12 psf rentsDELOITTEHome to NFL Carolina Panthersand Charlotte FC MLS Team75,523 seats801MCNINCHNOVELSTONEWALLUPTOWN 550BANK OF AMERICA STADIUMSPECTRUM GOLDDISTRICTTHE REFINERYTRUIST FIELDHome to the Charlotte Knights, AAAMinor League Baseball Team10,200 seatsDIMENSIONAL FUNDMOREHEAD RIDGE282,000 sfBuilt 2019280 unitsUnder ConstructionHISTORIC DILWORTH HOMES 625k - 3.2M THE SQUARE ATSOUTH END137,314 sfUnder ConstructionGAS & FIRESPACES COWORKING30,000 sfTHE BRYANT345 unitsBuilt 2020 1.73 psf rents77EAST-WEST STATION300,000 sfProposedTHE HAWK1616 CENTER300,000 sf proposed71 unitsUnder Construction80,000 sfBuilt 2015THE PENROSE350 unitsBuilt 2018 2.05 psf rentsD I S T R I C T YA R D S O N W E S T M O R E H E A D 5
GATEWAY CENTER – CHARLOTTE’S FUTUREENTERTAINMENT DISTRICT HIGHLIGHTSTHE FUTURE EPICENTER OF ACTIVITYThe anchor of the Gateway Center project will be the new Amtrak train station set to open in 2024that will be built at West Trade and Graham Streets, just a half mile from the property. Along theSilver Line and throughout the built up Entertainment District, the plan also includes a high densitysection with bars, restaurants, and perhaps an amphitheater for concerts and plays.Charlotte’s MLs Franchise Announcement spurs plans for the New Entertainment including adding17 Major League Soccer matches at Bank of America Stadium each year starting in 2022. Bank ofAmerica Stadium serves as a year round event hub, featuring concerts, MLS Charlotte FC games,NFL Carolina Panthers games and college football games.BANK OF AMERICA CURRENTLY HOSTS: ACC CHAMPIONSHIP GAME DUKE’S MAYO BOWL 75,523 SEAT CAPACITY FUTURE CHARLOTTE FC SOCCER TEAM STADIUM - 2022 72,220 AVERAGE ATTENDANCE 28,000 MLS SEASON TICKET HOLDER DEPOSITS COLLECTED ROLLING STONES CONCERTThis rendering shows what a mixed-use development by The Spectrum Cos. andRepublic at the Gateway Station site could look like.6 E XECUTIVE SUMMARY
The Gateway is a planned, 14-acre mix of offices, restaurants and apartments surrounding the new Amtrak station and transit hub near the intersection of Third and Fourth wards. Thissummer, the City of Charlotte selected a developer - Charlotte Gateway Partners is a real estate joint venture of The Spectrum Cos., a Charlotte-based developer, and Republic, a realestate firm based in Washington, D.C . to kickstart the development for the Gateway Station deal.It’s also likely that the team will include 7 acres of city land now occupied by the Panthers’ practice fields for new restaurant and entertainment-themed projects as the land will likely bevacated when the Panthers relocate their training site to Rock Hill in 2023.This May, Charlotte Pipe & Foundry made the announcement that they would be leaving their current site that sits across the site from District Yards on West Morehead. This relocationallows up to 55-acres for the Carolina Panthers potential for a new stadium. Charlotte Pipe & Foundry is currently planning to relocate in 2023 and has secured the tax incentives torelocate.D I S T R I C T YA R D S O N W E S T M O R E H E A D 7
SOUTH ENDBANK OF AMERICA STADIUMUPTOWNHOME TO NFL CAROLINA PANTHERS ANDCHARLOTTE FC MLS TEAM75,523 SEATS27799,500 VPDTRUIST FIELDHOME TO THE CHARLOTTE KNIGHTS,AAA MINOR LEAGUE BASEBALL TEAM10,200 SEATSFUTURESILVERLINESTOPCHARLOTTE PIPE AND FOUNDRY SITEPOTENTIAL LOCATION FOR NEW PANTHERS NFL STADIUM/MLS STADIUM WITH MIXED-USE DEVELOPMENT.RELOCATING IN 2023.WESTMOREHEADSTGATEWAYCENTERDISTRICTYARDS ON WESTMOREHEADGATEWAYSTATIONCAROLINA PANTHERSPRACTICE FACILITY7 ACRES8 E XECUTIVE SUMMARY
1 .7 M21,699RESIDENTSWITHIN 1 MILE66.4%O F P O P U L AT I O NWITHIN 1 MILEH AV E B AC H E L O R ’ SDEGREE ORHIGHERWEST END77144,000 VPD 1 3 2 ,1 3 9AV G H O U S E H O L DINCOME WITHIN1 MILE1/3OVERNIGHTVISITORS IN2019N O .1UP AND COMINGCITY IN AMERICASOURCE: YELPN O .1CITY FORAT T R AC T I N GMILLENNIALSSOURCE: SMART ASSETNO.2OF RESIDENTSMOVE FROM OUTO F S TAT EIN US FORECONOMICGROWTHPOTENTIALS O U R C E : B U S I N E S S FAC I L I T I E SD I S T R I C T YA R D S O N W E S T M O R E H E A D 9
THE RISE OF WEST ENDJust West of Uptown, the West Morehead corridor continues to be one ofCharlotte’s most upcoming desirable locations for local businesses andwalkable retail. With future connectivity to the Silver Line light rail, I-77, anda network of greenways, it gives future users a variety of transportationoptions as well as retail and office connectivity as well. NOBLE SMOKEIdeally located off West Morehead – with incredible connectivity to I-77and the future Silver Line light rail, the West End submarket is one ofCharlotte’s newest development hot spots for residential multifamilyunits and townhomes, breweries, restaurants and office space. With awidespread movement of both residents and office tenants, it is extremelyrare for an opportunity of this size along with incredible views of theUptown skyline.In 2015, key community leaders invited Charlotte Center City Partners(CCCP) to serve as the catalyst organization to further define andimplement meaningful and sustainable economic development in theHistoric West End. The Knight Foundation awarded CCCP a 3-year, 1.5million grant to fund this work. There is also a two-mile extension of theCityLynx Gold Line streetcar from Uptown along Trade Street and BeattiesFord Road to Johnson C. Smith University will open next year, providing astronger link between Uptown businesses, residents and other Charlotteneighborhoods. STEWA RT CREEK GREENWAYDirect Access to the Greenway100 local businesses located in West End21,699 residents within 1 mile9.9% population increase since 201039.2% of household incomes over 100,000Unmatched views of Uptown skyline10 E XECUTIVE SUMMARY TOW N BREW ING CO.
CHARLOTTE DOUGLASINTERNATIONAL AIRPORT12 MIN DRIVESALT & VINEGARREDEVELOPMENTPROPOSED 80,000 SFRETAIL/OFFICETHE ARLO286 UNITSBRYANTNEIGHBORHOODPARKFREEMORE WESTSTEWART CREEKGREENWAYTRAILHEADCOCA-COLABOTTLING BUILDING277RE50,000 SF ADAPTIVEREUSE OFFICETDSMOTHE REFINERYHEAWEST105,763 SF OFFICE77AD STOREHEWEST MFRAZIER PARKUPTOWN4 BLOCKS AWAYREEKART CSTEWNWAYGREEDISTRICTYARDS ON WESTMOREHEADD I S T R I C T YA R D S O N W E S T M O R E H E A D 1 1
CONCEPTUAL MASSING PLAN – HIGH DENSITY OPTIONCREATED BY: LANDDESIGNDEVELOPMENT SUMMARYBUILDING A: RESIDENTIAL TOWER (HT 291’)RETAIL (GF) 12,000 SFDECK (2-8) 210 SPACESRESIDENTIAL (9-26) 198 UNITS(80% EFF / 800 SF AVERAGE)BUILDING B: MIXED-USE (HT 298’)OFFICE LOBBY (GF)LEASING / AMENITY (GF)RESIDENTIAL (1-7)(80% EFF / 800 SF AVERAGE)DECK (1-9)B 3,000 SF 1,500 SF 190 UNITSA 905 SPACESOFFICE ROOFTOP (10)OFFICE OVER-BUILD (10-22) 3,500 SF 280,000 SFHOTEL RETAIL (GF)HOTEL LOBBY (GF)HOTEL (1-9)(80%EFF / 500SF AVERAGE) 3,500 SF 1,500 SF 165 KEYSEATST77POTENTIAL PROPOSED50’ STORMWATER EASEMENTEXISTING 65’ POWEREASEMENTRTEINROOFAMENITYON-RAMPPROPOSED FRAZIERPARK EXTENSIONW.MOREHW.HEADSBOXER BUILDINGTRREEETCHNNICMBLACKMON SITE CHARLOTTE, NC MASSING STUDYPN 1021050 02.24.2021 JLL AMERICAS, INC.12 E XECUTIVE SUMMARYILLETSTGREENSPACECONNECTIONSTREET
PRELIM INARY STAF F R EC O M M EN DATI O N S - F OC US AR E A 3The District Yards on West Morehead Opportunity is strategically located into the heart of three district submarkets: Uptown, South End and West End. With in-placeMUDD zoning, the site is located within the planned Entertainment District as well as 2 blocks to the current NFL Carolina Panthers stadium.For further details on the LYNX Silver Line - please visit the following CATS website here.SITE LOCATIOND I S T R I C T YA R D S O N W E S T M O R E H E A D 1 3
INVESTMENT ADVISORSHUNTER BARRONSenior Director704 526 2840hunter.barron@am.jll.comSAR AH GODWINDirector919 573 4643sarah.godwin@am.jll.comOFFICE EXPERTISERYAN CLUT TERSenior Managing Director704 526 2805ryan.clutter@am.jll.comANALYSTSALE XIS K AISERAssociate704 526 2867alexis.kaiser@am.jll.comGARRICK WIERAnalyst704 526 2872garrick.wier@am.jll.comDEBT & STRUCTURED FINANCETR AVIS ANDERSONSenior Managing Director704 526 2806travis.anderson@am.jll.comJLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investmentmanagement. Our vision is to reimagine the world of real estate, creating rewarding opportunities andamazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrowfor our clients, our people and our communities. JLL is a Fortune 500 company with annual revenueof 16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. Forfurther information, visit jll.com14 E XECUTIVE SUMMARY
The Gateway is a planned, 14-acre mix of offices, restaurants and apartments surrounding the new Amtrak station and transit hub near the intersection of Third and Fourth wards. This summer, the City of Charlotte selected a developer - Charlotte Gateway Partners is a real estate joint vent
