Authentic Tenant Makeup Contributes to $10M Sale of Charlotte NoDa Retail Building
Nashville, TN-based real estate investment manager AJ Capital Partners has purchased 36 & NoDa, a 26,447-square-foot retail property in the North Davidson neighborhood of Charlotte, NC, for $10.3 million.
Jared Londry and Alex Olofson of Stream Realty Partners represented seller Ascent Real Estate Capital, a Charlotte-based real estate investment company.
36 & NoDa is a high-street, experiential retail investment that is home to notable tenants including Salud Cerveceria and Neighborhood Theatre, one of Charlotte’s oldest music venues for locals and concert enthusiasts.
“Local operators like Salud are the backbone of the small business community and what create the coveted ‘authentic’ tenant makeup at this location,” said Londry. “Promoting Salud’s incredible success along with the staying power of Neighborhood Theatre helped pique initial interest in this property. But convincing investors to come to Charlotte to feel the environment’s energy is what really demonstrated the value-proposition and generational value of this asset, which ultimately led to insatiable demand from capital sources.”