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Childress Klein and CGA Capital acquire Charlotte Metro Tower in Uptown for up to $675 million

Charlotte Metro

CHARLOTTE, N.C.  –  Charlotte developer Childress Klein and Maryland-based CGA Capital have acquired the Charlotte Metro Tower site at 525 S. Tryon Street in Uptown Charlotte from Duke Energy. In connection with its acquisition, the Childress Klein-CGA Capital joint venture simultaneously entered into a long-term lease with Duke Energy and have agreed to fully fund development and construction of the new 40-story office building.

Duke Energy will occupy the LEED-Gold Certified Class AA office tower upon its expected completion in 2022. Charlotte Metro Tower will feature approximately 1 million square feet of office and retail space, and a 1,100-space parking garage.

“Metro Tower is a best-in-class project in an area with the highest net absorption of any submarket in the Southeast. We have a great team in place and are delighted to be partnering with CGA and expanding our relationship with Duke Energy on this exciting project that will deliver significant economic benefits to the area,” said Childress Klein Partner Tom Coyle.

“This is an outstanding opportunity from every standpoint. We look forward to working with Childress Klein and their team to fund the creation of a dynamic office tower and a terrific new addition to the city skyline,” said CGA Capital Managing Director and Principal W. Kyle Gore.

Baltimore-based CGA Capital provides capital for large-scale corporate, government, and nonprofit real estate projects across the country. Financing is being provided by a debt investor group led by Nuveen, a TIAA company. Construction is underway at the time of the acquisition, and Childress Klein is leading the design and preliminary site work, and serves as the development manager.

CGA Capital was represented in the transaction by Ballard Spahr, and Childress Klein was represented by Parker Poe. Duke Energy was represented by Hunton Andrews Kurth LLP and advised by Eastdil Secured. The debt investor group was represented by Greenberg Traurig. The project’s architect is TVS Design and the general contractor is Batson-Cook Company.

About Childress Klein
As one of the largest private, full-service real estate companies in the Southeast, Childress Klein has played an intricate role in the development of Uptown Charlotte. For more than thirty years, we have overseen the development of fourteen Uptown projects — totaling more than 7 million square feet of commercial space. Notable Uptown projects include the 42-story One Wells Fargo Center, the 48-story Duke Energy Center, the high-rise residential project Museum Tower, as well as mixed and multi-use projects such as The Green and the Levine Cultural Campus. The new Metro Tower is a continuation of Childress Klein’s involvement and dedication to shaping Charlotte’s Uptown skyline. For more information, visit

About CGA Capital
CGA Capital is a privately held lender and investment firm focused on net lease property acquisition and development, debt and equity financing, and sales and trading of lease-backed securities. CGA Capital has closed more than $20 billion in financings, including corporate headquarters, government facilities, healthcare properties, and mission-critical special use developments. CGA Capital was found as a subsidiary of Legg Mason, Inc, in 1989 and acquired the U.S. net lease financing business of RBS Group plc in 2009. Since then, CGA Capital has served active or standby asset management or servicing roles in more than $8 billion (principal balance) of net lease-related debt real estate assets and retains equity interests in more than $2.4 billion in net leased properties. Among the hundreds of net lease financings completed by CGA Capital are headquarters facilities for leading utility companies, including Sempra Energy, ComEd (Exelon), and Georgia Power. Visit

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LakePointe Office Park and Corporate Center Buildings Earn ENERGY STAR Awards


(Charlotte, N.C.)  Eight suburban office buildings developed and managed by Childress Klein Properties have qualified for the U.S. Environmental Protection Agency’s (EPA’s) prestigious ENERGY STAR, the national symbol for superior energy efficiency and environmental protection. Commercial buildings that rate in the top 25 percent of facilities in the nation for energy efficiency may qualify for the ENERGY STAR.

“Childress Klein’s success in earning the EPA’s ENERGY STAR is a measure of our commitment to energy efficiency,” said David Pitser, Partner and Director of Office Property Management. “This is one of many ways we promote environmental stewardship while lowering energy costs for our tenants and clients.”

EPA awarded the ENERGY STAR to buildings at LakePointe Office Park and LakePointe Corporate Center ranging in size from 60,000 sq ft to over 150,000 sq ft. Five of the six recognized buildings are repeat award winners and two buildings are in the process of re-certification.

In 2007, LakePointe Office Park was recognized by BOMA (Building Owners and Managers Association) with an International TOBY (The Office Building of the Year) Award – Childress Klein’s third international honor for excellence in property management. 

“The key to success truly has been the support and cooperation of our building owners and tenants”, said Pitser. “What we achieve is as much a reflection on them as it is on us.”

In an example of partnership with tenants, Childress Klein and anchor tenant General Dynamics Armament and Technical Products (GDATP) worked together on a multi-year energy reduction initiative at the GDATP headquarters at Four LakePointe Plaza. A combination of lighting retrofits, operational changes, HVAC optimization and occupant education reduced electricity consumption by almost 10% and helped the building earn its first ENERGY STAR.

According to EPA, commercial buildings earning the ENERGY STAR use an average of 35 percent less energy than typical buildings and also release 35 percent less carbon dioxide into the atmosphere. Childress Klein actively monitors each suburban building’s energy consumption using monthly data from utility bills and detailed load profiles generated from data recorded every 15 minutes. This data is used to optimize building operations, maximize efficiency and minimize operating expenses.

“Our industry promotes the concept of ‘intelligent buildings’ but it’s important not to take that term literally,” said Regional Property Manager and Mechanical Engineer Jeff Crane, PE, LEED AP, “We equip our properties with sophisticated systems and controls to maximize efficiency and reduce operating costs but we recognize that intelligent people are essential for success with utilities (energy and water) management and environmental initiatives. Complex building systems without deliberate and continuous management and validation can be even less efficient than relatively simple systems.”

EPA’s national energy performance rating system provides a 1-100 scale that helps organizations assess how efficiently their buildings use energy relative to similar buildings nationwide. A building scoring a rating of 75 or higher is eligible to apply for ENERGY STAR.

Childress Klein Properties is an Energy Star Partner organization and is a member of U.S. Green Building Council.

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Childress Klein Holds On-Site Volunteer Activity for A Child’s Place

Group United Way

Every year, Childress Klein employees rally together to give back to our community.

This year Childress Klein worked with A Child’s Place, an agency whose purpose is to help enable homeless children to have the same educational opportunities and advantages as other children.

There are nearly 5,000 homeless children living in Charlotte. It is almost certain that these children will struggle to achieve a basic education.  When a child does not have fundamental academic resources such as a pen and a piece of paper, they are automatically unprepared to learn and less likely to be an active participant in class.  Over time, that can lead to children falling behind and repeating grades, which puts them at risk of not graduating high school.

In an effort to help with the agency’s goal, Childress Klein held a pencil pack drive to benefit A Child’s Place in Charlotte. Employees donated items such as pencils, pens, erasers, sharpeners and pencil cases. There was a company goal of 300 total pencil packs.

Employees pulled together and surpassed the goal, assembling nearly 1,000 pencil packs that were donated.

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Ascentris and Childress Klein Partner Again to Develop Apex SouthPark, an Iconic $185M Multi-Family and Retail Property Located in Charlotte, NC

CK Apex

Ascentris and Childress Klein Partner Again to Develop Apex SouthPark, an Iconic $185M Multi-Family and Retail Property Located in Charlotte, NC

Denver, CO (May 18, 2018) – Ascentris and Childress Klein announced today the joint venture’s acquisition of a 5.54-acre parcel at the corner of Morrison Boulevard and Sharon Road in Charlotte’s SouthPark submarket, directly across from the main entrance to the Simon owned SouthPark Mall. Together, the joint venture will develop Apex SouthPark which will consist of 345 apartment units and 88,000 square feet of ground floor retail that will be located in two 12-story towers. Sharon United Methodist Church, the land seller, will develop a new worship center on site under its rebranded name, SouthPark Church. The property will also feature a 175-room hotel with a rooftop restaurant and bar. A shared six-level parking structure will serve the entire property. Demolition of the existing church and construction of the project is expected to commence immediately. Rule Joy Trammel + Rubio is the architect and JE Dunn Construction will serve as the general contractor. Bank of America will provide construction financing.

“Ascentris is thrilled to be partnering with Childress Klein again, this time on the development of Apex SouthPark. Childress Klein and RJTR have designed an iconic project that will be unlike anything else in SouthPark and will set the stage for a new generation of living in Charlotte,” said Ascentris Managing Director Tricia Noble.

The finishes and common area amenities will raise the standard for apartment living in SouthPark. One-, two-, and three-bedroom units will feature floor to ceiling windows, high-end stainless-steel appliances, under-cabinet lighting, quartz countertops, and backlit mirrors. The two towers will share an amenity deck with a swimming pool, cabanas, fire pits, and grills, and a tenant lounge and fitness center with yoga and spin studios. On-site 24-hour concierge service will be available to tenants. The 88,000 square feet of ground floor retail is designed to accommodate a variety of tenants, including restaurants and bars with outdoor seating, which will create an energetic environment for the property. Childress Klein’s retail division is leasing the retail portion of the property. 

“Apex SouthPark will deliver an exciting urban experience that we believe will address the increasingly sophisticated demands of the SouthPark market. We are excited to have the opportunity to partner with Ascentris and SouthPark Church on this innovative project”, said David Haggart, Retail Division Partner at Childress Klein. Apex SouthPark is a property many years in the making. Sharon United Methodist solicited master development proposals for the site in 2015, ultimately selecting Childress Klein. The property was rezoned to allow for the development of the property in 2016. With construction commencing in the coming weeks, substantial completion of the first apartment tower is scheduled to occur in Spring 2020, with final completion of the project slated for Spring of 2021.  

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Award-Winning Cafe To Open Second Charlotte Restaurant

First Watch
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The Nexus at Waverly Celebrates Topping Out


Charlotte, N.C., July 16, 2018The Nexus, a six-story creative office building within the Waverly community in south Charlotte, has reached its midway point of construction. On Tuesday, July 17, at 11 a.m., joint venture partners Childress Klein, Crosland Southeast and the B. Frank Matthews II family will hold a topping-out ceremony for The Nexus at The Porter’s House restaurant in Waverly.

The Nexus will total 154,000 square feet and is the second creative office building at Waverly, a mixed-use development just south of Interstate 485 at the intersection of Providence and Ardrey Kell roads. The first six-story office building at Waverly, The Hub, is LEED certified and offers a reimagined work environment designed for collaboration and creativity, anchored within a vibrant, walkable community. The Hub is home to the global corporate headquarters of NN Inc. as well as the headquarters of Tokai Carbon USA and Horizon Investments. It is also home to regional offices for Axene Health Partners and Esri, among others.  The Hub has one floor of available space remaining.

Childress Klein began construction on The Nexus in March, and the building is expected to deliver in April 2019. The Nexus will feature exposed ceilings, interior spaces built for collaboration, contemporary finishes and music in all common areas, a covered parking deck with a glass “jewel box” grand stair, electric car charging stations, bike storage, outdoor meeting space with Wi-Fi, and a connection to Waverly’s nearby park, The Yard. Childress Klein is seeking LEED certification for the building.

The Remi Group, a winner of the Charlotte Business Journal’s “Best Places to Work” award and ranked by Inc. Magazine as one of the fastest-growing private companies in America, has leased 33,000 square feet at The Nexus for its corporate headquarters and will be its first tenant.

Remi was represented by Ben Speir and Joe Cherry with Cherry & Associates, and The Nexus was represented by Travis Hart and Jenny Fowler with Childress Klein.

“We’re very excited to reach this construction milestone with The Nexus,” said Paul DeVine, partner at Childress Klein. “The Hub has been a fantastic success and has confirmed our bet that there is pent-up demand among employers outside of the urban core who want to deliver a vibrant, walkable, community experience to their employees. It has been fun to see our thesis—that Waverly could become a powerful recruiting and retention tool—become a reality for our clients and to see such a positive response from the market.”

Travis Hart and Jenny Fowler with Childress Klein are marketing The Nexus, which features 26,793-square-foot floor plates. The building’s top four floors remain available for lease.

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Valspar to Anchor Office/Retail Building

Two Harbour

DAVIDSON, N.C. – Leading developer, Childress Klein Properties, the Lake Norman Regional Economic Development Corporation (LNREDC) and the Town of Davidson, N.C. are pleased to announce the construction of Two Harbour Place, a 51,000 sq ft, three-story office/retail building located at the northwest corner of Griffith and Jetton streets in Davidson. Well-known paint company, Valspar, will be relocating their Charlotte regional office to the project.

“We are excited to announce an anchor tenant of such great quality to Harbour Place,” said Paul DeVine, partner at Childress Klein Properties. “This validates our efforts to add a different type of product to the Class A office market.”

Construction on Two Harbour Place has already begun and the building is expected to be completed by February 2015. Childress Klein Properties is working with Valspar to design a state-of-the-art training center as part of the project. Valspar will be moving from their current location within Morrison Plantation in Mooresville, N.C.

“We enjoy the culture of Davidson, so when Childress Klein presented this opportunity to be so close to I-77 but also intentionally knit into the town, we knew this was the spot for our new office,“ commented Kelly McGlynn, operations manager for Valspar. “We love that our employees will be able to enjoy walkability to all the great amenities of Davidson mixed with the ability to get employees to work quickly.”

Two Harbour Place is part of the 50-acre mixed-use Harbour Place development begun by Childress Klein in 2007.  The development consists of approximately 500,000 sq ft of space that includes a mix of office, retail, residential, hospitality and educational uses. Valspar joins MSC Industrial Direct, Wells Fargo, and Homewood Suites as major tenants in the development. The development is also adjacent to a nature preserve, walking trails and park, with access to Lake Davidson.

“This site is part of the 2004 Northeast Quadrant Master Plan — it is exciting to have a new building in town to fill out this area,” said Town manager Leamon Brice. “We’re hoping this development will provide more employment opportunities and services to the citizens of Davidson.”

“As soon as you get off the interstate (on exit 30), you can tell Davidson is a unique place. Tenants love that this area doesn’t feel like an office park; it’s part of the community,” added DeVine.

“We are pleased that construction will begin soon at Two Harbour Place,” said Ryan McDaniels, executive director of LNREDC. “Valspar is a highly regarded company that will complement our growing collection of consumer and industrial products office locations.”

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Athleta and V’s Barbershop Join Waverly Retail Lineup


New tenants sign leases as Foxcroft Wine Co. celebrates grand opening

Charlotte, N.C. — Popular fitness and lifestyle apparel company Athleta and V’s Barbershop have signed leases at Waverly, and Foxcroft Wine Co. has opened its new location at the 90-acre mixed-use community in south Charlotte.

Athleta (3,469 square feet) creates versatile premium performance apparel designed by women athletes to inspire a community of active, confident women and girls to reach their limitless potential. Founded in 1998, Athleta is a certified B corporation and integrates performance and technical features across its collection to carry a woman through her life in motion, from yoga and training to commute and travel. A Gap Inc. brand, Athleta apparel is available at 170 retail stores across the country, and the Waverly location, located next door to Tiff’s Treats, is expected to open on March 31.

V’s Barbershop (1,005 square feet) is an Arizona-based company that prides itself on creating an old-school barbershop atmosphere. Licensed barbers dressed in classic uniforms will offer haircuts, straight-razor shaves, men’s facials, face massages, moustache and beard trims and shoe shines. Every V’s haircut will include a hot lather neck shave, a hot towel treatment and a neck and shoulder massage. Owned by Aaron Lindley, the Waverly location will be located next to Foxcroft Wine Co. and is expected to open early next year.

Keely Hines with Foundry Commercial represented the landlord at Waverly, which has only one retail space remaining for lease. Dale Hall at New South Properties represented Athleta, and Jonathan Najjar at Morrow Hil represented V’s Barbershop.

Foxcroft Wine Co., which opened its Waverly location on Nov. 5, offers a diverse selection of wines from every major wine-producing region in the world along with an acclaimed food menu. Boasting a comprehensive, rotating selection of more than 5,000 different bottles from around the world, Foxcroft Wine also serves more than 40 wines by the glass. Customers at Foxcroft Wine can enjoy a relaxed and inviting atmosphere and simple, comforting cuisine sourced from local farmers and purveyors who provide fresh, seasonal, organic and sustainable food. The Waverly location is the fourth for Foxcroft Wine owner Conrad Hunter and features an expansive wine bar as well as several specialty wine-based cocktails created by Stefan Huebner of Dot Dot Dot, which Hunter co-owns.


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Crown Castle Signs Lease at The Nexus

Nexus Rendering

Childress Klein welcomes Crown Castle to Waverly

CHARLOTTE, N.C. – Childress Klein, is pleased to announce Crown Castle, the nation’s largest provider of communications infrastructure - connecting people & businesses to essential data, technology & wireless service, as the newest tenant at The Nexus located in Waverly. Crown Castle has signed a lease for 53,580 square feet for both the 5th and 6th floor, and is scheduled to open in Q1 2020.

Childress Klein Partner Paul DeVine said, “We couldn’t be more thrilled that Crown Castle has selected The Nexus for their new office location. We truly believe that Waverly provides the very best in next-generation workspace, combining a walkable, pedestrian-friendly design with a suite of high-quality urban amenities. It has been fun to see this vibrant community become a powerful recruiting and retention tool for employers wishing to offer an enhanced work-life balance to employees.”

Scheduled for completion in April 2019, The Nexus is a six-story creative office building within the Waverly community in south Charlotte. Totaling 154,000 square feet, this is the second creative office building at Waverly, a mixed-use development just south of Interstate 485 at the intersection of Providence and Ardrey Kell roads. The first six-story office building at Waverly, The Hub, is LEED certified and offers a reimagined work environment designed for collaboration and creativity, anchored within a vibrant, walkable community. The Hub is home to the global corporate headquarters of NN Inc. as well as the headquarters of Tokai Carbon USA and Horizon Investments. Visit for full project details.

Travis Hart and Jenny Fowler with Childress Klein are marketing The Nexus, which features 26,790 square foot floor plates and an attached parking garage dedicated to office employees. The building’s third and fourth floors, as well as a portion of the first remain available for lease.

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Apex SouthPark hits the ground running signing Mastro Brothers’ Steak 48

Steak 48

Charlotte, N.C. – The highly anticipated mixed-use development Apex SouthPark has secured one of the country’s most recognized names in steakhouse dining – Steak 48 –  which will make its Charlotte debut mid 2020.

Redefining the dining experience and offering a new twist on the classic American Steakhouse, Steak 48 is a culinary experience unlike anything Charlotte has seen. At its core, Steak 48 is a renewed classic American steakhouse featuring world class steaks including both USDA Prime and Highest Grade Domestic Wagyu beef paired with unique, inventive and cravable appetizers and side dishes such as their famous Alaskan King Crab and Rock Shrimp Mac and Cheese, or Crispy Shrimp Deviled Eggs that go beyond the traditional steakhouse menu. Steak 48’s Chief Executive Chef of over 20 years (Marc Lupino) prides himself in offering only the very best sustainable and fresh fish and shellfish, and only sources their beef and ingredients from specific farms that meet their exact standards of quality. “Our Local Executive Chef in Charlotte will play a personal role in delivering some local touches to our menu, being a part of our community is part of everything we do at Steak 48,” said Chef Lupino.

Guests will appreciate Steak 48’s wide range of both lively and more intimate dining spaces, as well as a fully exposed kitchen with floor to ceiling glass surrounded by dining on all three sides. This one-of-a-kind design encourages guests to be compeletly immersed in the dining experience.

Steak 48 is owned and operated by brothers Jeffrey and Michael Mastro, their father Dennis Mastro, and partner Scott Troilo, a group known for their unique and city-centric restaurants that focus heavily on the guest experience, who are eager to contribute to the urban fabric of the SouthPark community.

With this being their first restaurant in Charlotte, they have chosen to partner with the local real estate experts at Childress Klein who are synonymous with ongoing investments that change the Charlotte skyline and transform the community.

“We are excited for the opertunity to be a part of the spectacular development that is being created here at Apex SouthPark. My brother, father and I love Charlotte and are looking forward to being a part of the very special community that is so vibrant here in our new home town,” said Jeff Mastro.

Steak 48 Charlotte will join the brand’s other three locations in Houston, Philadelphia and Chicago, each uniquely local and special to its own City.

Developed by Childress Klein and Ascentris, Apex SouthPark includes more than 73,000 SF of ground floor shops and resturants, approximately 345 residences; a new 750-seat, 68,000 SF state-of-the-art church; and Charlotte’s first Hyatt Centric hotel. Retail and dining spaces will be connected via a parking garage at the base of Element SouthPark, a luxury multifamily development, and will feature entrances off of Sharon and Morrison Boulevard. Shoppers and other visitors will have direct access to more than a dozen of speciality resturants and retail concepts offering an aray of culinary and fashion options.

To have the Mastro family bring Steak 48 to Apex SouthPark is further evidence of Charlotte’s standing among the most desirable markets in the nation,” said Chris Thomas of Childress Klein. “Steak 48 will help us set the tone as it offers the SouthPark community a distinctive dining experience.”

When it opens in the summer of 2020, Apex SouthPark will be one of the first mixed-use developments in the southeast to feature a live, work, play, worship paradigm, making the SouthPark area one of the most diverse and exciting destinations in the southeast.


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