Commercial Market Strong but No World-Beater in Triad, Developers Say

WINSTON-SALEM, NC-Commercial activity began to lose some of its momentum in the second half of 2000. The slowdown is expected to carry over into 2001 as the local and national economies continue to slacken. But a handful of major projects remain in the pipeline.

For example, in Winston-Salem, the largest of the Triad cities, Magnolia Partners has stirred up enthusiasm for Downtown revitalization by announcing plans for One West Fourth Street, a new high-rise. Wachovia has been signed as a tenant in the 300,000-sf to 400,000-sf office, retail and restaurant complex.

Downtown Greensboro, NC is seeing the results of revitalization efforts as local developers continue to renovate properties along South Elm Street, including the historic Kress & Co. building.