The South End property that was previously home to Phat Burrito in its iconic bright yellow building will likely be home to another restaurant with a sprawling outdoor seating area, views of the Charlotte skyline and easy access to the rail trail.
Sam Judd, chief investment officer of Asana Partners, said a new tenant has not been signed yet, but there’s been interest from several prospective restaurant groups.
A conceptual rendering of the Camden Road lot provided by Asana shows an updated building with a sleek design, new outdoor landscaping and a silver trailer that looks to be a food truck adjacent to the Blue Line light rail.
Phat Burrito, a beloved Tex-Mex restaurant on Camden Road that opened in 1998, helped lead the rebirth of South End. Citing parking difficulties associated with nearby redevelopment, owner Stephen Justice closed the restaurant for food in February.
Phat Burrito was the latest South End small business to close its doors to make way for new development. Austin-based Dimensional Fund Advisors is building a new office building across the street, on the former site of the Common Market, Black Sheep and other local shops.
Asana, which has its offices on Camden Road, has been growing its portfolio of properties in South End. The real estate firm bought the 0.77-acre site that housed Phat Burrito and a few other buildings for $2.7 million in March. Asana also bought the the Design Center of the Carolinas for $42.7 million late last year.