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Tag Archives: Commercial Confidential

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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Commercial Confidential: Carolina Commons

Harris Teeter - which comes complete with parking spaces for golf carts - anchors Carolina Commons Photo by Payton Guion

When The Shopping Center Group took over leasing duties at Carolina Commons, which is about five miles into South Carolina, Darrell Palasciano knew the company needed to take it slow. The neighborhood shopping center, anchored by Harris Teeter, was built a few years ago to service the residents of Sun City Carolina Lakes, a massive active-adult community, and other residents of Lancaster County, said Palasciano, a broker in the Charlotte office of The Shopping Center Group.

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Commercial Confidential: NorthPointe Executive Park

Despite a lack of submarket demand, NorthPointe Executive Park has only about 4 percent vacancy. Photo by Payton Guion

In terms of demand for office space, Downtown and SouthPark dwarf the North submarket, which paradoxically pays off for NorthPointe Executive Park. Northern Mecklenburg County is home to Northpointe, and John Ball, a senior leasing agent with Charlotte-based Trinity Partners, said, “There’s not as much deal velocity in that submarket” as in Downtown and SouthPark. “Landlords (in the North submarket) have to really get in there and make deals happen because you don’t know when the next deal might come through.”

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Commercial Confidential: Mint Hill Festival (access required)

Derrick Taub, vice president for Toronto-based Sierra Group, said the sign on Matthews-Mint HIill Road for Mint Hill Festival is 'plain vanilla' and needs to be changed. Photo by Payton Guion

Derrick Taub thinks his company just bought the best location in town -- the town of Mint Hill, that is. Taub, vice president of Toronto-based Sierra Group, which this month bought the Mint Hill Festival shopping center for $2.5 million, said he thinks Sierra's first property purchase in the Charlotte market couldn't be better positioned in the town.

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Commercial Confidential: Northlake Mall

A burst of residential construction around Northlake Mall will help it succeed, said a local retail analyst. Photo by Payton Guion

Northlake Mall opened in 2005 in north Charlotte, an area that seemed primed for residential growth. But just a couple of years after the mall opened, the Great Recession came on the scene. According to Andy Misiaveg, a partner in the Charlotte office of the Atlanta-based Shopping Center Group, the mall didn’t have time to solidify its tenant mix before the economy tanked.

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