Fixer-upper in uptown Charlotte: Marketing ‘once-thriving’ old Epicentre for sale
It’s quite the fixer-upper in uptown Charlotte. The troubled mixed-use entertainment complex formerly known as the Epicentre is officially up for sale this week, marketed to potential buyers as an “opportunistic investment.”
The 302,324-square-foot Queen City Quarter at 201 E. Trade St. was a “once-thriving” site, according to the listing by real estate firm and property manager CBRE. The advertisement pitches the more than 3-acre property as a chance for a new owner to “completely re-envision and reinvigorate” the asset.
Once a hot spot for Charlotte nightlife, hosting parties and events tied to the NBA All-Star Game, Democratic National Convention and Super Bowl the four-level complex continues to struggle with vacancies. The complex has also faced setbacks from the pandemic and earlier issues related to crime.
The CBRE listing highlights the opportunity for redevelopment, suggesting that modernizing or rebuilding the front two structures off South College Street could increase capacity and improve the ground level.
The property also offers connectivity to Overstreet Mall, the LYNX Blue Line Light Rail. and three on-site hotels that are not included in the sale.
“A new owner stepping into Queen City Quarter inherits a high-profile, centrally located, mixed-use asset during a pivotal moment of transformation — with a near-term opportunity creating a rare chance to shape the identity, tenant mix, and financial trajectory of one of uptown Charlotte’s most visible destinations,” the listings stated.
No price is listed for the sale. The 2008 property last sold for $95 million in 2022.
The sale of the one-block center comes as no surprise after CBRE announced its plans last month. CBRE, based in Dallas, Texas, has an office in Charlotte’s South End.
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Charlotte complex struggles with vacancy, tenants
Queen City Quarter is currently 32.5% leased with 13 businesses, leaving 193,574 square feet of space available, according to the listing. The Charlotte Observer previously reported the vacancy rate at 24% with about a dozen of the 50 spaces filled at the complex and recent closings that included CVS and Tailored Smoke Cigar Lounge since September.
Despite the high vacancy rate, the listing touts the complex’s location and nearby amenities, including more than 50 restaurants, major banks, Blumenthal Arts’ theater and walkability to sports venues like Spectrum Center and Bank of America Stadium.
It also points to the strength of the Charlotte’s office market, which is 94% leased, suggesting an “opportunity for older vintage assets to capture the tenant demand.”
Queen City Quarter tenants such as Mortimer’s, Red Eye Diner and Privee Clothing told The Charlotte Observer last month that their business has suffered because customers still have not returned since the pandemic.
What’s more, Mecklenburg County Superior Court records show three tenants were facing eviction for unpaid rent. The lawyer for one of the tenants, Sea Grill Restaurant and Bar, confirmed Tuesday, April 7, that the restaurant and landlord have reached a confidential settlement agreement, allowing the restaurant to remain in its space.
From Epicentre to Queen City Quarter
The property’s history is marked by financial volatility.
The complex debuted as the Epicentre in 2008. In 2014, California real estate group CIM Group purchased it for $130.5 million. At the time, the center was 94% leased, with 70% of its rental revenue from 16 restaurants.
In June 2021, Epicentre fell into receivership after defaulting on an $85 million loan from lender Deutsche Bank Trust Co. The center was listed as 35% occupied with 21 businesses as its popularity dwindled and development growth shifted to South End.
In August 2022, Deutsche Bank purchased the center at a foreclosure auction as the only bidder.
The following month, CBRE announced the complex would be renovated and rebranded as Queen City Quarter. The concept was shifting from nightlife with bars and restaurants to a corporate and family-friendly hub.
This story was originally published April 7, 2026 at 8:45 AM.
