Development

Cato buys former Bobcats training facility in Fort Mill

Charlotte-based Cato Corp. is moving ahead with its plans to redevelop the former Charlotte Knights ballpark in Fort Mill, and the company has purchased an adjacent parcel that used to be a Charlotte Bobcats training facility.

Cato Corp., an apparel and accessories retailer, paid $1.9 million for a 69,000 square-foot, 6-acre facility at 2266 Deerfield Drive in Fort Mill. The training facility is next to the former ballpark, which Cato demolished this spring.

The property was previously owned by a church, and the sale closed in late August. CNL Commercial Real Estate represented the lender in the sale. Cato already owns large tracts of surrounding land, including about 250 acres around the former ballpark and the 32-acre ballpark site itself.

Cato has said a large, mixed-use development on the site could include hotels, restaurants and housing, but hasn’t detailed its plans yet.

The Fort Mill stadium was next to a baseball-shaped water tower visible from Interstate 77. Built in 1990, the Knights played there until last year, when the triple-A team started play in its new BB&T Ballpark in uptown Charlotte.

Ely Portillo: 704-358-5041, @ESPortillo

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