Development

Wells Fargo building in SouthPark sold for $13.6 million, as area continues to evolve

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Levine Family Office purchased a SouthPark office building home to Wells Fargo for $13.6 million, the firm said Friday.

The four-story, 44,000-square-foot office building’s sole occupant is Wells Fargo, and it will remain that way until March 2020, the release said. Wells Fargo previously owned the building, at 4525 Sharon Road, across from SouthPark Mall.

Daniel Levine and his father Alvin, a co-founder of Pic ’n Pay Shoes and brother of Family Dollar Stores founder Leon Levine, started Levine Properties in 1985. The firm has extensive holdings throughout Charlotte, especially in First Ward, though it has sold some land recently, including the site of a planned 33-story tower.

‘Explosive development’

In the release, Daniel Levine, president of Levine Properties, cited the “explosive development” happening in SouthPark.

The city and Simon Property Group, SouthPark Mall’s owner, are planning a revamp of nearby Symphony Park.

Across from the mall, work is underway on Apex SouthPark, a pair of 12-story buildings at the corner that will replace the “ski slope church,” formerly Sharon United Methodist.

And officials are planning a pedestrian path called the SouthPark Loop, which would circle SouthPark Mall and bypass the surrounding Fairview and Sharon roads as well as Barclay Downs Drive.

Levine said his family is bullish on the area’s future.

“As a native Charlottean and commercial real estate developer, it has been incredible to watch SouthPark grow from a suburban neighborhood into an mini urban center,” he said in the release.

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Danielle Chemtob covers economic growth and development for the Observer. She’s a 2018 graduate of the journalism school at UNC-Chapel Hill and a California transplant.
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