Tuesday, October 4, 2016

Sale of multi-housing development site in Charlotte, NC closed by HFF team

Justin Good
CHARLOTTE, NC -– Holliday Fenoglio Fowler, L.P. (HFF) announced its Carolinas investment sales team has closed the sale of a 5.21-acre development site in Charlotte’s South End submarket.

HFF managing director Justin Good and director Allan Lynch, formerly of Cushman & Wakefield | Thalhimer, worked alongside managing director Bill Simerville and senior vice president Brian Craver of Foundry Commercial to market the offering on behalf of Pepsi Bottling Ventures.

 Lennar Multifamily Communities purchased the site free and clear of existing debt.  Prior to the sale, Lennar Multifamily Communities successfully rezoned 4.69 acres of the site to TOD-M (Transit-Oriented Development Mixed-use) due to its proximity to the New Bern light rail station.

The site, formerly home to a Pepsi Bottling plant originally constructed in 1938, is situated at the intersection of New Bern Street and South Boulevard in Charlotte’s high-growth South End area.

 A six-story building encompassing 432 residential units, 26,000 square feet of retail and a nearly 800-space parking deck is planned for the parcel.  Designed by Axiom Architecture and LandDesign, the property is oriented both toward the LYNX light rail/Rail Trail and South Boulevard. 

Allan Lynch
The property will maximize pedestrian connectivity with five pedestrian-oriented, ground-floor retail spaces and direct access to the Rail Trail’s 4.5 miles of public trails that wind through the heart of the city connecting neighborhoods such as Sedgefield, Southside Park, Brookhill, Dilworth and Wilmore to Uptown. 

A public walkway adjoining the Rail Trail to South Boulevard and a pedestrian crossing from South Boulevard to the Harris Teeter across from the site will be added.

“Lennar Multifamily is bringing an institutional-quality development to the heart of the South End to continue the area’s incredible transformation into a residential and retail destination,” stated Good.  “Designed to maximize connectivity with New Bern Station and the Rail Trail, the development will offer significant street-level retail and unmatched access to all that nearby Uptown has to offer.”

 For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

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