Stiles & Shorenstein Plan New $186M Class A Office Tower in Charlotte

Development Details

Stiles and Shorenstein Properties have unveiled 110 East, a new Class A office building in Charlotte, N.C., standing 23 stories tall and covering 370,000 square feet. Designed by Hastings Architecture and constructed by Shelco, the $186 million development is a significant addition to the city's skyline.

The project commenced in January 2022 and reached its construction peak in August 2023. Global Atlantic Financial Group provided a $137 million construction loan scheduled to mature in January 2025. Notably, 110 East Office holds LEED Gold certification and Platinum WiredScore, boasting features like 29,000-square-foot floorplates, spacious 13-foot, 4-inch floor-to-floor heights, and Clear Vision glass panels. Additionally, the building incorporates ground-level retail spanning 7,000 square feet and a parking garage with 900 spaces.

Amenities and Features

Among its amenities, 110 East offers a versatile 100-seat conference room with adaptable configurations and a sizable 4,000-square-foot gym. The 11th-floor sky lobby features a 3,000-square-foot terrace, enhancing the building's appeal for tenants and visitors alike.

Location and Accessibility

Situated at 110 East Blvd., the tower enjoys a prime location with a walk score of 96, adjacent to the East/West Station Platform and Charlotte Rail Train Station. Downtown Charlotte lies within a short 2-mile distance, while major interstates and routes like I-77, I-277, and U.S. Route 74 are easily accessible within a 3-mile radius.

Charlotte’s Office Market

Contrary to national trends, Charlotte's office supply pipeline is relatively modest, comprising only 3.3 percent of total stock, totaling 2.6 million square feet. Despite a year-over-year increase of 310 basis points, the city's vacancy rate of 14.5 percent remains notably lower than the national average of 18.2 percent. Additionally, the average full-service listing rate of $31.30 per square foot is below the national average of $37.74 per square foot, reflecting the city's stable office market.