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Commercial Real Estate

Commercial Confidential: University Executive Park (access required)

Joe Franco prefers to get deals done quickly with potential tenants at University Executive Park.  Photo by Payton Guion

Up north, at University Executive Park, Joe Franco usually tries to shave a few weeks off negotiations, in an effort to seal more deals. Franco, vice president in the Charlotte office of Cassidy Turley, which handles leasing at the 13-building park in northeast Charlotte, said when his firm’s employees line up a potential tenant, they try to “say yes to the deal.”

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Charlotte Knights stadium is taking shape (access required)

Construction, shown Wednesday, on BB&T Ballpark and Romare Bearden Park. Photo by Nell Redmond

As the Charlotte Knights season ended last September in Fort Mill, S.C., with a loss to the Pawtucket Red Sox, Rodgers Builders was getting set to break ground on a $54 million, 10,000-seat uptown ballpark for the team. Jump to April and while the Knights are staggering to a well-below-.500 start in the team’s final season in South Carolina, steel and concrete that roughly resemble a ballpark have sprung out of the ground in uptown’s Third Ward, as construction workers scurry around the site like fielders hustling for a barely reachable fly ball.

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City Council approves Simon/Tanger outlets mall rezoning (access required)

A rezoning approval by the Charlotte City Council this week paves the way for the construction in southwest Mecklenburg County of the Charlotte Premium Outlets mall depicted in these initial elevations. Renderings courtesy of Tanger Factory Outlet Centers.

The Charlotte Premium Outlets mall planned for unincorporated southwest Mecklenburg County took another step toward construction Monday when the proposal won unanimous rezoning approval from the Charlotte City Council. The council on Monday also without dissent approved a separate request by the same landowner, Steele Creek Limited Partnership, for a nearby industrial/office park.

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Spectrum Properties still interested in Marshall Park (access required)

Since Spectrum Properties missed a March 1 deadline to buy Marshall Park, public discussion of the Brooklyn Village plan has been muted.  Photo by Nell Redmond

It took only two years after a Charlotte City Council vote in the urban renewal-era year of 1961 for bulldozers to start wiping out the 80 years’ worth of the city’s history called Brooklyn. Today, going on 12 years after efforts began to bring housing, shopping and pedestrian traffic back to Second Ward – Charlotte’s government district, dominated by stern, institutional buildings – the vision of a reincarnated, well-rounded Brooklyn is still just that, a vision.

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Apartments adding up to a glut in Charlotte (access required)

Apartments WEB

Week after week, developers announce new apartment projects in Charlotte. Like the 342 units in NoDa, or the 321 units in southwest Charlotte, or the 270 units in South End that have started, or will start, this year. In Charlotte, it is a rare week that passes without the revelation of a new multifamily project. And the numbers justify that trend, for now.

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PulteGroup survives a scathing review in Charlotte (access required)


One the nation’s premier homebuilders was being humiliated by the Charlotte City Council; worse, PulteGroup was on the verge of losing a rare and potentially lucrative opportunity. But Pulte bounced back this week from January’s nasty public scolding to win a unanimous City Council endorsement of a rezoning case that would allow development and building on a patch of scarce land in booming and nearly built-out south Charlotte.

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