Charlotte Commercial Real Estate Whispers 🤫 — July 17, 2024
Park Expo under contract; 'Planned demolition' of uptown tower; Large shopping center up for sale; Elevator lawsuit; Top building permits
Charlotte Commercial Real Estate Whispers: Park Expo said to be under contract for redevelopment; Research report discloses ‘planned demolition’ of uptown office tower; Large Charlotte shopping center up for sale; Elevator lawsuit
Welcome to another tantalizing installment of Charlotte Commercial Real Estate Whispers, our occasional column that unveils the sultry secrets of building sales, rezonings and irresistible real estate intrigue just for you. Prepare to be seduced by the hottest insights, as the most forbidden secrets pique your professional curiosity.
Park Expo said to be under contract for ‘vibrant mixed-use development’
The Park Expo & Conference Center — a church-owned, 33-acre site across the street from Bojangles Coliseum that hosts the Southern Christmas Show and trade shows — looks as though it could be headed toward a redevelopment.
The site has been rumored to be up for sale for at least the last two years, and you can understand the appeal: close-ish to center city neighborhoods, easy access to Independence Boulevard and consisting mostly of surface parking lots. It’s owned by The Park Ministries, which bought the site formerly known as the Charlotte Merchandise Mart for $11.5M in 2006.
Over the weekend, we noticed that the website of real estate giant JLL listed the Park Expo as a “generational opportunity” to “develop the 33-acre site into a vibrant mixed-use development that will serve Charlotte and the surrounding region.” It listed the site as “under contract.”
It continued: