A prime piece of property in SouthPark is hitting the market, and the site could be redeveloped as the area continues to see a boom in dense, mixed-use developments.
The land is on Barclay Downs Drive, between Bulfinch Road and Carnegie Boulevard. The Charlotte office of Cushman & Wakefield has been retained to market and list the property, with senior managing director Rob Cochran and associate vice president Jared Londry leading the sale.
The office building on the property, totaling roughly 38,000 square feet, dates to 1987. Charlotte law firm Culp Elliott & Carpenter is the tenant.
Much of the rest of the property is occupied by surface parking. Real estate sources with knowledge of the SouthPark market say the land could be attractive to developers interested in mixed-use apartment, retail, hotel and office projects on a prominent site next to the mall.
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“Given its location adjacent to the mall and within walking distance of major office buildings, multi-family projects, hotels, and nearby single-family neighborhoods we think the potential redevelopment of this site will integrate nicely with the established development in SouthPark,” said Cochran in an email. “The result will be a more pedestrian friendly environment that is clearly the long term goal for the area.”
The 2.7-acre property was acquired by a company called CEC-BDA Partners, LLC from a Chicago-based company in May 2015 for just under $6 million, Mecklenburg County real estate records show. CEC-BDA Partners is affiliated with Culp Elliott & Carpenter.
SouthPark is in the midst of a major building boom, as the area transitions from being primarily suburban and auto-centric to a denser, more urban district. For example, Synco Properties is planning to redevelop the Colony apartments into a much denser new project with almost 1,000 apartments, shops, offices and a hotel. That project is up for a vote Monday at Charlotte City Council’s monthly zoning meeting. Sharon United Methodist Church has partnered with developer Childress Klein to turn their property into apartments, a hotel, offices and shops, as well as a worship space.
Hundreds of other new apartments, including Crescent SouthPark and Encore, are also hitting the market or under construction, which is expected to draw thousands of new residents to the area.