Florida developer buys South End Business Park with plans to redevelop property
A Florida developer purchased a 1980s business park near South End this week with plans to redevelop the massive site, the company announced.
Ram Realty Advisors bought the South End Business Park, a 45-acre property that was built in phases starting in 1979, according to a news release.
The 377,000 square-foot office park was expanded in 2017 with the construction of a 14th, 50,000 square-foot building. The park is at Clanton Road and South Tryon Street.
The company declined to disclose the sales price. Public Mecklenburg County property records did not yet show the deed.
Ram purchased the property from Stockbridge, a private equity real estate investment management firm. Stockbridge paid $9.8 million for the property in 2015, according to county property records.
Next steps for the South End site
Ram will be seeking to rezone the property and redevelop it with a mixed-use project. What that will look like is not clear yet.
The property will continue to operate as the business park until then.
When asked if the buildings would be torn down or reused, a spokeswoman said Ram is looking at all potential scenarios but declined to provide further information.
Other projects for Ram
Ram is leading development of The Perch, a 213-unit apartment building on Charlotte’s west side. The project will be at 718 Gesco St.
The new Lowe’s Design Center Tower in South End was a joint venture between Childress Klein and Ram Realty. That tower sold last November for a record $318 million.
