Local Investors Snap Up Bowers Fiber Buildings
WPCP Bowers Inc., an entity formed by locally based White Point Partners, acquired the Bowers Fiber buildings at 4001 and 4025 Yancey Road in the lower South End for $7.9M. The new owners plan a redevelopment of the site that will include a mix of office and retail uses, the Charlotte Business Journal reports.
The property includes about 73K SF in three buildings. One building, a 28K SF bow-and-truss structure, will probably be given over to retail, while the rest of the space in the other two buildings, about 45K SF, will include both office and retail uses, according to WPCP Bowers.
Bowers Fiber, which specilizes in fiber production, has operated at Yancey Road since 1946, and plans to consolidate its operations at a facility in South Carolina. MPV Properties repped the seller.