South Boulevard site sells for $797,500

Principals at MPV Properties (MPV) and Tribek Properties recently sold a 5.03-acre site on University City Boulevard to Columbia self-storage developer Taylor/Theus Holdings. The property at 2400 South Boulevard was sold for $797,500 in a deal that closed on Jan. 24. Located just outside of the I-485 loop between UNC-Charlotte and Harrisburg, the property is one of the few remaining undeveloped sites on the “going home” side of University City Boulevard/Highway 49.

Taylor/Theus has plans to develop a three-story, climate-controlled, self-storage facility on their property along with an additional storage building for larger items such as cars and boats. In conjunction with the self-storage development, MPV and Tribek are developing and selling three outparcels in front of a proposed and zoned 12-acre grocery-anchored development. The remaining land is entitled for up to 125,000 square feet of retail.

In a statement on behalf of both firms, Tribek partner Blanton Hamilton says, “The influx of residents to the University area and Harrisburg is driving demand for more retail, storage and commercial options. We are excited to begin development of this 23-acre commercial site with self-storage and retail outparcels. Given the existing zoning in place for a neighborhood shopping center, we hope to attract a grocery-anchor in the near future to complete development.”

Bailey Patrick, Nolan Mills, and Bailey Patrick Jr. of MPV Properties represented the sellers in the transaction.