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PBRM-Overlook Two LLC, which is affiliated with RKM Development, acquired 2.8 acres at the intersection of 10th Street and Seigle Avenue from the Seigle Avenue Presbyterian Church. The parcels traded for $3M. According to RKM, the site in the Belmont neighborhood will eventually be redeveloped, the Charlotte Business Journal reports, though its exact use hasn't been decided yet.
The site would be right for 50k to 70k SF of office, and the area—which is short on office space—might be receptive to such a development. In the meantime, the company will renovate the 14k SF church building, and find a tenant or number of tenants for it. Daycare is one possible use. Seigle Avenue Presbyterian will use the proceeds of the deal to built a new place for worship elsewhere. [CBJ]
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