United Technologies Corporation | Aerospace Division Headquarters

Property Description

This six-story, glass and granite clad 198,898 square foot Class A office building is leased in its entirety to United Technologies Corporation ("UTC") as its Aerospace Division Headquarters. Through its established and well-known brands such as Otis (elevators), Carrier (air conditioners), Sikorsky (helicopters) and Pratt & Whitney (aircraft engines), UTC provides technology products and services to the building systems and aerospace industries worldwide, employing over 218,300 people in 71 countries. Founded in 1934, UTC recorded 2012 revenues of $57.70 billion, and net cash flow of $16.6 billion.

Business Essential Attributes

The property was substantially renovated (at a cost of approximately $6 million) in 2012-13 from its existing Class A condition to become the headquarters of UTC's newly- formed aerospace unit-UTC Aerospace Systems. The property will ultimately house 325 employees including divisional executives. Other key functions taking place at the property include engineering, operations, supply chain, quality control, customer service, business development and strategy. The City of Charlotte and State of North Carolina each contributed $2.5 million worth of incentives for United Technologies to relocate its new aerospace headquarters to the property. In addition, United Technologies will receive an incentive package from the city and state worth an estimated $21.60 million over 12 years in connection with the relocation.

Additional Property Information

The property is ideally situated in the six building, 65-acre Coliseum Centre Office Park, arguably one of the top business parks in the City of Charlotte. Located only minutes away from Charlotte-Douglas International Airport, and easily accessed from I-77, I-85 and I-485, the park is home to major corporations housed in institutional-quality buildings surrounded by extensive landscaping and numerous amenities. Additional amenities at the property include on-site structured parking, fitness center with shower and locker facilities, and a cafeteria. This building was awarded an Energy Star designation in 2009 through 2012.

United Technologies Corporation | Aerospace Division Headquarters

Charlotte, North Carolina

PROPERTY AT A GLANCE

Property Type: Office
Square Footage: 198,898

Lease Expiration: April 5, 2025
Renewal Options: Three 5-year options
Rent Increases: 2.25% rent increases per annum
Tenant: United Technologies Corporation
Website: www.UTC.com
NYSE: UTX

 

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