Stream Realty Partners has purchased the former AT&T Plaza building uptown for $45.5 million and plans extensive renovations.
AT&T is vacating the building and relocating its employees to offices off West Tyvola Road, a process that should be finished next month. That will leave the largest contiguous block of vacant office space on the market uptown – 360,000 square feet. The building will now be called 300 South Brevard.
Stream Realty is planning extensive renovations. The building will get a new facade, redesigned entrances, new lobbies and restrooms and new retail. Stream Realty also said it will add more tenant amenities, though the company didn’t specify what those would be.
“300 South Brevard will offer tenants the rare opportunity to establish a distinct, branded presence in one of our nation’s most dynamic submarkets, Uptown Charlotte,” said Daniel Farrar, managing partner of Stream Realty, in a statement. “This is a significant opportunity for large tenants looking to establish a presence in the Carolinas, or current Charlotte firms simply looking to modernize their workplace. When renovations are complete, 300 South Brevard will be an essentially new office building with true business and lifestyle functionality, not to mention great connection to the city’s best amenities.”
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Stream Realty, a national company, manages or leases more than 111 million square feet of commercial space. The company bought the AT&T Plaza building from a partnership between previous owners Childress Klein Properties and Norfolk Southern Railroad.