Commercial Real Estate Roundup – January 2021

Jan 6, 2021 | Business Growth, Commercial real estate, Economic Development, Job Growth in University City, Transit Oriented Development, Transportation

January 2021 report on commercial real estate in University City – Charlotte

Centene East Coast HQ leads 2020 business news, says Charlotte Ledger

  • “That’s the huge one,” Ledger Executive Editor Tony Mecia tells WFAE.
  • Total jobs could top 6,000 – biggest jobs announcement in NC history, Mecia says.
  • Centene news also helps NC earn “2020 State of the Year” title from Business Facilities.
  • MORE

NOVEL Research Park sells for $69.5 million

  • Charlotte Observer says price is among highest ever for University City apartments.
  • The year-old community, now named Pointe at Research Park, has 280 units on 19.3 acres.
  • Site adjoins property purchased by Centene Corp. for East Coast headquarters.
  • Other recent sales in University City include RUSH student housing for $95.25 million.
  • MORE

Work under way or starting soon on 2 apartment communities

  • Spectrum JV is building 325-unit development near University City Blvd LYNX station. MORE
  • ContraVest to start work soon on Addison One15 at W. Harris Blvd and Old Statesville Road.
  • Addison One15 will offer attached garages, cybercafe, private office spaces. MORE

I-85 North Bridge update: work starting on utilities relocation in Research Park

  • Work will start soon along David Taylor Drive and Research Drive near Louis Rose Place.
  • Project will begin with tree removal. Utilities will relocate both underground and overhead lines.
  • City will work to maintain safety for workers, surrounding businesses and commuters.
  • Bridge and new roadway will link Research Park to University Place, LYNX, university.
  • Questions: Leslie Bing, project manager, at 704-577-8609 or lbing@charlottenc.gov.
  • MORE

Recent building permits in University City

Building permits issued from Sept. 7 to Dec. 8 2020 include:

  • Centene East Coast HQ – Phase 1 office Str. Frame and other work; 2405 Gov. Hunt Rd; multiple permits; Centene Corp.; $51 million total
  • Vue on University – Residential units and leasing office; 9905 University City Blvd; multiple permits issued; Vue on University Phase I LLC; $17.8 million total
  • 6800 Solectron – Building renovations; 6800 Solectron Drive; issued Oct. 16; 6800 Solectron Owner LLP; $12,286,600
  • Queen City Charter School – Middle and High School; 9108 Mallard Creek Road; issued Nov. 16; Charlotte Education Services LLC; $655,000
  • Monster Mini Golf – Indoor entertainment facility; 230 E. WT Harris Blvd.; issued Nov. 6; Monster Entertainment/Ready, Set, Glow LLC; $330,000

January Fast Fact

$553.5 million – Total selling price for 11 University City apartment communities sold in 2020.

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