Development

Beacon buys Third Ward building for almost $10.7 million

The Cedar Hill building at 800 W. Hill Street.
The Cedar Hill building at 800 W. Hill Street.

A former industrial building in Third Ward near Bank of America stadium has been sold to Charlotte-based Beacon Partners for almost $10.7 million, real estate records show.

Cedar Hill, at 800 W. Hill Street, is now used as offices and a rooftop event venue called Roof With a View. The building and adjacent parking total roughly 0.8 acres, and once was a bakery for the A&P grocery store chain. A company called Carolinas Auto Supply House Inc. sold the 74,000 square-foot building in a deal that closed Wednesday.

Cedar Hill dates to the 1920s, making it one of the older industrial buildings still standing uptown. Beacon plans to renovate the building while maintaining its historic features.

“We have been attracted to this building for a long time, so we’re excited to finally have it as part of our Midtown and South End portfolio. It is a perfect fit for us, providing our customers with a great location and fun working environment with large open spaces and great views of uptown and Bank of America Stadium,” said Mike Harrell, a partner at Beacon, in a statement. “It’s a really rare find in Charlotte.”

The company will update the building’s lobby add interior and exterior signage and retain its expansive ceilings and floor-to-ceiling windows. Ian Bertolina of Bertolina Real Estate Services represented Carolinas Auto Supply House in the sale.

Beacon has very been active in Charlotte, acquiring properties and developing industrial and office buildings. The company is building a seven-story office building at 500 East Morehead Street, and recently wrapped up construction on a five-story office building on Camden Road.

Last year, Beacon Partners bought the Park Avenue building in South End for $21.7 million, as well as acquiring the HD Supply site on Winona Street for $10.1 million. Earlier this year, the company bought the former Metrolina Expo site on Statesville Road for $11 million. Beacon is developing a 1.2 million square-foot warehouse and industrial development on the site.

Ely Portillo: 704-358-5041, @ESPortillo

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