Investors buy former Allstate offices, while developers propose entertainment district

Jul 12, 2017 | Economic Development, Transit Oriented Development

401 McCullough office buildingA recent property sale and new rezoning request signal continued business interest in the coming LYNX light-rail line.

Arkansas investors have bought a 1970s office building and 35 acres on McCullough Drive for $12.3 million. The three-story building, vacant since longtime tenant Allstate relocated to Innovation Park, offers one of the biggest contiguous vacant office spaces in Charlotte’s suburban market, reports CPExecutive.com.

That large space, totaling more than 191,000 square feet, should be of great interest to companies relocating to Charlotte or undergoing major expansions, the business website said.  MORE

 

Entertainment district proposed near IKEA

Entertainment district

Red areas are up for rezoning for the entertainment district

The Charlotte Observer reports that developer Cambridge Properties is planning to create a major entertainment district just west of University City Boulevard between I-85 and the University City Boulevard transit station. The company recently filed a rezoning for parts of three properties at the end of MacFarlane Boulevard near I-85.

Cambridge Properties told the Observer that it envisions the district having a movie theater, brewery, other restaurants, hotel, outdoor golf venue and other draws. MORE

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