Spectrum Cos. Kicks Off Project Expansion in Charlotte

The new East Tower will be the second office structure at the $300 million Vantage South End, a mixed-use development the company is building in partnership with Invesco Real Estate.
Vantage South End. Image courtesy of The Spectrum Cos.

The Spectrum Cos. has moved a step closer toward the realization of its $300 million mixed-use Vantage South End development in Charlotte, N.C., with the start of construction on a second office building. The new East Tower will deliver approximately 290,000 square feet of premier office space to the market.

READ ALSO: Charlotte Commercial Real Estate Wrap-Up – September 2020

Spectrum is developing Vantage South End in partnership with Invesco Real Estate. Located one block from a light rail stop and within close proximity of Bank of America Stadium and Truist Field, the mixed-use project will span 5 acres and serve as a connection between Charlotte’s Uptown and South End communities. At full build-out, the property will feature roughly 580,000 square feet of Class A office space, a 200-key boutique hotel and approximately 57,000 square feet of restaurant and retail offerings. Additionally, the site will be home to a 1-acre urban park available to tenants and the community.

The new East Tower development will stand 11 stories at 1415 Vantage Park Drive and, like the West Tower, it will feature event and conference offerings and a bevy of terraces overlooking the mixed-use destination’s urban park. Spectrum expects the open and activated green space to serve as a major draw for tenants. The company describes the project as centering on a “work from park” concept, or WFP, marking another advancement in the remote “work from anywhere” evolution.

Pandemic-era lease-up

The first office building at Vantage South End has already attracted LendingTree as a tenant; the online lending marketplace will anchor the West Tower with a 175,000 square-foot space beginning in the first quarter of 2021. As for the newly begun office building, Spectrum is undeterred by the challenges the national office market is facing due to COVID-19. As Steve McClure, chief operating officer of The Spectrum Cos., said in a prepared statement, the company is still excited about the prospects for Charlotte and believes that the region’s quality of life, unrivaled talent pool and dynamic neighborhoods will continue to attract companies seeking a place where they and their employees can grow and prosper.