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Charlotte Pipe puts 56 acres on the market in uptown
Replacement factory to open in Stanly County next year
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Longtime manufacturer hires CBRE to market West Morehead land widely speculated to be stadium site
by Tony Mecia
Charlotte Pipe & Foundry said Wednesday that it has hired real estate firm CBRE to market its 56 acres on West Morehead Street in uptown.
The West Morehead land, which has been home to a pipe factory for more than a century, has been widely speculated to be a possible future home of a football stadium for the Carolina Panthers. The hiring of an outside firm to market the property would seem to indicate that there is no secret deal to sell the site to the team.
Charlotte Pipe said in 2020 that it planned to close the existing plant and build a replacement, state-of-the-art foundry on 480 acres in Stanly County. That site is expected to begin operations in the 3Q of 2023, the company said.
Charlotte Pipe announced the hiring of CBRE in a news release on Wednesday afternoon.
It also included this rendering of one possibility of what the site could look like, in a file named “Birdseye_Skyline_NoStadium.jpg”:
The Ledger reported in January of this year that the land appeared to be on the market. At the time, Mark Real Estate Advisors, a longtime adviser to Charlotte Pipe, had a slick marketing video on its website highlighting the property, which is being called “The Iron District.”
Mark Real Estate Advisors CEO Chip Mark was quoted in the news release saying: “I am very pleased with the significant interest in the property from some of the largest developers in the nation since Charlotte Pipe first announced the relocation of its foundry operations.”
Developers often like to hype sites as rare opportunities, but having 56 developable acres to close to uptown is about as rare as it gets.
CBRE has 500 offices in more than 100 countries and says that it has 90% of the Fortune 100 as clients. It’s a Fortune 500 company headquartered in Dallas and has a Charlotte office.
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Executive editor: Tony Mecia; Managing editor: Cristina Bolling; Staff writer: Lindsey Banks; Contributing editor: Tim Whitmire, CXN Advisory; Contributing photographer/videographer: Kevin Young, The 5 and 2 Project