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| Rendering of planned development site in South End Market, Charlotte, NC |
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| Justin Good |
CHARLOTTE, NC, Dec. 12,
2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that its Carolinas
investment sales team has closed the $4.95 million sale of a development site
totaling 1.56 acres 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 two separate clients.
A 0.91-acre parcel was marketed on behalf of
Pepsi Bottling Ventures and a 0.65-acre parcel was marketed on the McRee
family’s behalf. Bainbridge Companies
(Bainbridge) purchased the adjacent sites free and clear of existing debt.
Prior to the sale, Bainbridge successfully
rezoned both sites to TOD-RO (Transit-Oriented Development – Residential
Optional) due to the proximity to the New Bern light rail station.
The sites are situated
between the 2600 and 2700 block of South Boulevard at the intersection of
Poindexter Drive in Charlotte’s high-growth South End area. The parcels are located across Poindexter
Drive from a 5.21-acre mixed-use development site the team brokered to Lennar
Multifamily Communities earlier this fall.
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| Allan Lynch |
A five-story, podium-style multi-housing
property with 200 rental units above a two-story parking garage is planned for
the combined 1.56-acre parcel.
The
property fronts the Charlotte Rail Trail and will feature a courtyard at the
corner of South and Poindexter as well as a decorative accent at the entrance
from 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.
“Bainbridge was attracted
to the South End’s robust residential fundamentals as the area continues to
thrive and diversify into a multi-faceted urban node,” stated Good.
“The
community is designed to intertwine the public linkages with common area
gathering spaces to emphasize the site’s key position along the light-rail line
and the Rail Trail.”
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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