Charlotte Office, Retail Mixed-Use Project Flips for $18.6M
CBRE has arranged the sale of two mixed-use buildings at The Quarter, a Class A adaptive reuse project in the South End neighborhood of Charlotte, North Carolina. Florida-based Ram Realty Advisors purchased the properties for $18.6 million.
Patrick Gildea, Matt Smith, Robert Hardaway, Adam Russ, and Erin Varol of CBRE’s Carolinas Institutional Properties team in Charlotte represented the sellers, FCP & Abacus Capital, in the transaction.
The two buildings, located at 2218 & 2320 Toomey Ave., measure 97,537 square feet and include both creative office and retail space. Both buildings are part of a larger mixed-use project called The Quarter, which includes three redeveloped mixed-use warehouses totaling 131,319 sq. ft. The development includes more than 300 newly built apartments and is surrounded by 2,100 additional multifamily units.
Since 1996, Ram says it has acquired, developed, and redeveloped $4.5 billion of real estate including nearly 14,000 apartments and over 10 million square feet of commercial space.
