Atlanta & Southeast News In Your Inbox
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
CBRE Arranges $6M Sale of 17K-SF Adaptive Reuse Building in Charlotte’s South End
CBRE has arranged the $6.2-million sale of a 17,426-square-foot creative commercial building on Dunavant Street in Charlotte’s South End neighborhood, a mix of low-rise adaptive reuse properties and new high-rise multifamily and office developments
The buyer, 6 Summit Capital, LLC, purchased the property from Dunavant Development, LLC, an entity related to Argos Real Estate Advisors.
CBRE’s Patrick Gildea, Matt Smith and Grayson Hawkins represented the seller in the transaction.
“Adaptive reuse properties continue to see incredible demand from investors following the trend of office and retail tenants seeking cool, experience-driven space,” said CBRE’s Hawkins. “With the finite supply of authentic creative commercial properties, we have seen larger institutions and new-to-market capital pursuing smaller deal sizes, adding depth to an already competitive buyer pool.
Argos purchased the former manufacturing facility in 2009, then redeveloped it to a complimentary mix of creative office space and a chef-driven restaurant in 2018. The building is 66% occupied.
- ◦Sale/Acquisition
