Another Good Year For Charlotte: Here's Why.
Last year was a bang-up one in Charlotte real estate, and this year promises more of the same, with retail rebounding on the backs of grocery-anchored properties and mixed-use development (among other activity). That's why we're excited to present our Bisnow Charlotte 2016 State of the Market event on Feb. 25 starting at 7:30am at the Fillmore Theater.
Selwyn Property Group principal Jensie Teague, who will be a speaker at our event, tells us that the retail sector—so hard hit by the recession—will see increased development this year in Charlotte. "Many grocery stores have been working new sites for the last couple years and some of those projects will come to fruition this year," he says. Namely, Publix, LIDL, Aldi, Whole Foods, Walmart Neighborhood Market, Fresh Market and Sprouts, which all have been working sites. Even Wegmans may be pursuing the market.
Much new retail will be in a mixed-use context. Last month, Crescent Properties acquired the final piece of land for its Stonewall Station project, which will be anchored by a Whole Foods with an unusual distinction: there will be an entrance into the store directly from a light rail station. Selwyn Property Group's Kurt Schoenhoff repped the Melissaris family, the sellers of the 1.7-acre side, in the deal.
Work also started last month on 2400 South, a 36k SF mixed-use project developed by MPV Properties at 2400 South Blvd in Charlotte. According to MPV, it's positioned in the center of the South End's redevelopment activity, offering a mix of retail, office and medical office to the area. Already Novant Medical Group, Truliant Federal Credit Union and Project Pie have inked deals for space in the building.
MPV's Mark Newell and George Macon are leading the project; managing partner Jim Merrifield will be a speaker at our Charlotte State of the Market at the Fillmore Theater beginning at 7:30am on Feb. 25. Sign up here.