CHARLOTTE, N.C. — More retail space will come on the market along the Charlotte Rail Trail next year following a planned redevelopment.
[ALSO READ: Another office building planned in South End]
Investicore Holdings USA LLC — registered to a local address and affiliated with Dawie Swart of South Africa-based Investicore Holdings — is expected to close on the property at 3232 South Blvd. in late summer before embarking on a partial adaptive-reuse, partial new construction project. The $14 million redevelopment will bring about 38,000 square feet of retail and entertainment uses to the market, said John Vickers, director at KW Commercial, who is working with the developer on the transaction.
The project, called The Platform, is expected to have tenant-ready spaces by the third quarter of 2020, Vickers said. A conventional rezoning petition to permit transit-oriented development uses was filed by Investicore earlier this year.
The building has been owned by a local manufacturer, The Shuman Co., since the 1970s.
Adaptive reuse has taken hold in a big way in Charlotte, with real estate groups flipping old warehouses and other buildings — big and small — across the region into new commercial space. Areas in and around South End, a former industrial neighborhood, have been particularly appealing with mass transit and other factors.
Read more about this latest project here.
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