Starbucks coming to NC 49 at Cross Charlotte Trail

Starbucks coming to NC 49 at Cross Charlotte Trail

A new building for a Starbucks and other businesses is rising along University City Boulevard within a few feet of the emerging Cross Charlotte Trail (XCLT). The new building at the main entrance to Town Center Plaza replaces a former O’Charley’s restaurant building. The XCLT, a joint effort of Mecklenburg County and the city of Charlotte, will connect several county greenways including Toby Creek Greenway to provide a single paved trail for cycling and hiking between Pineville and University City via NoDa and uptown Charlotte. Several connecting links are open, and the city expects to have the trail complete between Mallard Creek Greenway and Pineville in about 5 years. Plans call for funding the last two segments, between Kirk Farm Field (the current terminus of Mallard Creek Greenway) and the Cabarrus County Line by the later part of this decade. The new Starbucks – the first directly beside the trail – will provide a welcome place to rest and refresh just before the trail enters the UNC Charlotte campus. Building details Building plans show up to four spaces in the 7,600 square-foot building. Starbucks will occupy 2,200 square feet and have a  drive-through window. Marketing materials for the project say that the building should be finished this summer. The building site is at a signalized intersection that includes an entrance ramp to WT Harris Boulevard and a safe pedestrian crossing onto the UNC Charlotte campus via the greenway. Student enrollment now exceeds more than 30,000. Several on-campus and off-campus residential communities along University are within a mile of the new building. The Shopping Center Group is handling leasing. To...
Crescent Communities’ Escent Research Park completes construction

Crescent Communities’ Escent Research Park completes construction

News release courtesy of Crescent Communities.  Charlotte, N.C. – (May 13, 2021) – Today, Crescent Communities, a nationally-recognized, market-leading real estate investor, developer, and operator of mixed-use communities, announces the completion of construction at Escent Research Park, a creative office community situated in the heart of University City in Charlotte, NC. The first creative office space in the area, Escent Research Park boasts four stories and 159,000 square feet of modern, purposeful design that offers tenants an indoor and outdoor collaborative environment. Designed to spark connection and creativity, the building’s open floor plans with virtually column-free layouts provide flexible interior design for prospective employers, complete with natural light and tree-lined views. The finished space features an expansive two-story entrance with community lounges, a community terraced lawn, access to nearby walking trails, plus an abundance of on-site property amenities. “Escent Research Park marks the next chapter for Crescent Communities in University City – an important milestone for our Commercial organization,” says Brendan Pierce, Senior Managing Director at Crescent Communities. “The market’s highly attractive growth activity proves its emergence as a critical employment and technology hub and is just one of the many reasons we chose to build the area’s first creative office space.” Located near the intersection of West Mallard Creek Church Road and David Taylor Drive in Charlotte’s University submarket, Escent Research Park is situated on 21 acres of land, with ample retail located within a five minute walk and access to the light rail and I-85 each within one mile. Escent Research Park’s central location provides easy access to the airport, I-485, and I-77. “We are thrilled to...
Commercial Real Estate Roundup – April 2021

Commercial Real Estate Roundup – April 2021

April 21, 2021 – University City CRE News Rezoning filed for next phase of University City Entertainment District • Cambridge Properties seeks to rezone 40 acres, Business Journal reports. • Petition calls for office building, hotel, apartments, commercial space and structured parking. • Topgolf facility opening date not announced yet; WoodSpring Suites opened earlier this year. • View University City Entertainment District plans. • MORE   Apartments on campus edge sell for $12.5 million • Mallard Creek Apartments has 11 buildings, 8 acres at 9800 Mary Alexander Road. • New owner is Cedar Grove Capital, Charlotte Business Journal reports. • Two-story garden-apartment buildings and clubhouse were built in 1985. • View property report. • MORE   Popeye’s Louisiana Kitchen coming to University City Blvd east of I-485 • Fast-food restaurant nearing completion at 11859 University City Blvd. • Franchisee is Leblon Franchising, which operates 17 other Popeyes in Charlotte area. • Wertz Real Estate Investments is marketing 1.1-acre site and 2,400 SF building. • LoopNet listing and Marketing Package   Wild Wing Café opening at University Place • Final landscaping work under way at 8760 J M Keynes Drive near N. Tryon St. • Website up and running. Wild Wing Café hiring for new location. • Facebook page shows Wild Wing Café at Pinnacle Drive permanently closed. • Read FSR Magazine article about new Wild Wing Café. • MORE   Lidl planning summer opening of Mallard Creek store • Building at 615 W. Mallard Creek Church Road at Berkeley Place Drive • German discount grocer just opened 8th Charlotte store in Steele Creek • Mallard Creek store to have 25,656...
Commercial Real Estate Roundup – January 2021

Commercial Real Estate Roundup – January 2021

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...
Commercial Real Estate Roundup – November 2020

Commercial Real Estate Roundup – November 2020

November 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 RUSH student housing near campus sells for $95.25 million, Business Journal reports. 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...
Commercial Real Estate Roundup – October 2020

Commercial Real Estate Roundup – October 2020

October 2020 report on commercial real estate in University City – Charlotte Novant Health medical center among 9 developments proposed for University City City Council heard or approved 10 University City rezoning petitions at Sept. 22 meeting Novant Health plans 144,000 SF medical facility at N. Tryon and Mallard Creek Church Rd 8 other petitions would add nearly 2,000 housing units, 30,000 SF office/retail The owners of the closed Gray’s Bookstore near campus are requesting broader retail uses MORE Recent building permits point to $125+ million in new construction Permits issued since June include three residential projects near LYNX, campus Lidl has started work on store on W. Mallard Creek Church Road Casto gets permits for two retail/office buildings at The Pointe at University Place MORE Apartment sales in CLT and University City strong, Business Journal reports Journal credits better-than-expected rent collections, rebound in debt markets Increasing migration to Charlotte also buoying sales activity University City sales in 2020 include: Addison Park Apartments – $75.5 million; 426 units; 6225 Hackberry Creek Trail; Aug. 17 The Hamptons – $31.7 million; 180 units; 8415 University Station Circle; Aug. 17 Magnolia Terrace – $40.7 million; 264 units; 8301 Paces Oaks Blvd. Sept. 1 Greenway at Mallard Creek – $49.55 milion; 266 units; 8230 Greenway Village Drive; Sept. 16 MORE Insurance and financial-services companies helping University City prosper Centene Corp’s East Coast HQ is the latest coup for University Research Park Business Journal says sector has grown this year while most others have shrunk TIAA and four other insurance, financial-services firms have major offices in park MORE University City Partners events helping draw...