New owners see bright future for Grande Promenade

Jan 11, 2017 | Economic Development

Grande Promenade shopping centerThe Grande Promenade shopping center at North Tryon Street and East W.T. Harris Boulevard has been bought by a Boston real-estate company for $40.1 million, The Charlotte Observer reports.

Ferris Development Group says it plans to bring new energy and tenants to the center, which is near the McCullough Station on the LYNX light-rail line. Light-rail service between UNC Charlotte and Center City is expected to start late this summer.

The shopping center occupies one corner of the most significant crossroads in University City’s main business district. A planned extension of McCullough Drive will provide even more access, since the new roadway will lead to the McCullough Drive station.

Grande Promenade tenants include numerous restaurants, services stores, IHOP, FedEx, AT&T, Ashley Furniture, Total Wine & More, and Jos. A. Bank clothiers. The center has several vacancies which the new owner expects to fill in the next two-three years.

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