Commercial Real Estate Roundup – November 2020

Nov 11, 2020 | Business Growth, Commercial real estate, COVID-19, Economic Development, Events, Job Growth in University City, Light Rail, Transit Oriented Development

Centene Corp. East Coast HeadquartersNovember 2020 report on commercial real estate in University City – Charlotte

Centene Corp. moving quickly on East Coast HQ at University Research Park

  • Work has begun on 770,000 SF building on Gov. Hunt Drive. See slide show
  • Centene leasing additional space at Camp North End. MORE
  • Centene’s thousands of future IT jobs help lift Charlotte’s Tech Town ranking. MORE
  • Centene is hiring. See current Charlotte job listings.

See the progress on Escent Research Park office building and campus

  • Short video compares current construction images and finished renderings.
  • Video also offers highlights of University Research Park’s newest office building.
  • Crescent Communities expects to deliver finished building in Q1 of 2021.
  • MORE

Apartment market stays hot, with 6 more sales in University City

BJ reports sales of 5 other University City communities. Prices run 150% or more of appraised values:

  • Barrington Place, 2410 Allerton Way, $63 million. Grantee: Greystar.
  • The Commons at University Square, 9201 Glenwater Drive, $37.26 million. Grantee: Affiliate of Cedar Grove Capital.
  • The Maxwell at Highland Creek, 5410 Prosperity Ridge Road, $62 million. Grantee: Knightvest Residential.
  • Wexford Apartment Homes, 1811 Wexford Meadows Lane, $16.5 million. Grantee: Morgan Properties.
  • Crossroads Station Apartments, 6940 Hidden Forest Drive, $12.52 million. Grantee: Peak Capital Partners.

Rezonings OK’d on Oct. 19 for Novant Health medical center, new housing

  • Novant Health plans 144,000 SF facility at N. Tryon, Mallard Creek Church Road.
  • Five approved rezonings will allow up to 1,020 townhomes and apartments.
  • City held hearings on 50,000 SF of offices, 130 for-sale townhomes near Mallard Creek Road.
  • MORE

5 more communities in the works

  • Madison Capital Group breaks ground on 240 unit apartments near Cabarrus line. MORE
  • Watermark Residential to build 276 apartments near I-485 and Mallard Creek Road. MORE

3 developers seek rezonings for 376 apartments, duplexes, townhomes:

  • Accent Homes Carolina seeks rezoning of 12.3 acres on Back Creek Church Road near Hanberry Blvd for 110 townhomes on Back Creek Church Road. Petition 2020-125
  • 1124 Galloway LLC seeks a rezoning of 8 acres on Galloway Road for up to 79 townhomes. Petition 2020-132
  • John Clark Jr. seeks rezoning of 28.8 acres at 900 Rocky River Road West for 187 duplex and/or single- family attached units. Petition 2020-137

University City Farmers Market drawing vendors, shoppers to University Place

  • Success of University City Farmers Market extends the autumn run through Nov. 21.
  • University City Farmers Market to operate weekly from spring through fall 2021.
  • Market was launched to provide local produce and goods, support small business.
  • MORE

Charlotte offers Resilient ReUp program to help businesses survive pandemic

  • Training program uses hybrid of virtual modules and sessions with experts.
  • Project is designed so busy owners can take part while running their business.
  • Businesses must be located in Charlotte and have 1-100 employees.
  • MORE

November Fast Fact

$20 million – Money earmarked in newly passed transportation bonds for street projects near LYNX light-rail stations

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