The following article appeared in the 6/12/26 edition of Charlotte Business Journal:
Plaza Midwood adaptive reuse development sells for $7.6M
By Elise Franco – Real Estate Editor, Charlotte Business Journal
Charlotte real estate firm Beauxwright acquired Plaza Hill at 2501 The Plaza for $7.6 million on June 11. The adaptive reuse building has 21,738 square feet of retail and office space.
BEAUXWRIGHT
An adaptive reuse development near Plaza Midwood is under new ownership.
Charlotte commercial real estate firm Beauxwright acquired Plaza Hill at 2501 The Plaza for $7.6 million from LPA Urban, a boutique development arm of Lat Purser & Associates, according to Mecklenburg County property records. The sale closed on Thursday, records show.
Avery Rogers, principal at Beauxwright, said the firm has a long history of adaptive reuse investment in the area and has searched over the years for the right opportunity in this part of the city. Beauxwright developed a 48-unit apartment community in the neighborhood called 300 Optimist Park, later selling it in 2018.
"Beauxwright knows this corridor well ... so, when the opportunity came up to own this retail center it wasn't a hard decision to make," she said. "Plaza Midwood is a growing, tight-knit neighborhood where people really show up for the local businesses, and that's exactly the kind of place we want to be invested in."
LPA Urban renovated the building in late 2020, creating a mix of office and retail space across 21,738 square feet. The top floor was refit to include new storefronts and an outdoor patio along The Plaza, and the lower level has storefronts fronting the Villa Heights neighborhood.
Plaza Hill is about 80% leased with two suites totaling 4,327 square feet available for lease. Current tenants there include Salt & Souls, which opened a new 2,000-square-foot studio last year; Humbug, Summit Coffee, Hotworx, Dentistry on The Plaza, Midwood Eye, All Kids Pediatric Dentistry and Modern Classics.
Plaza Hill at 2501 The Plaza is a 21,738-square-foot adaptive reuse building. Its tenants include Summit Coffee, Humbug, Salt & Souls, Hotworx, Dentistry on The Plaza, Midwood Eye, All Kids Pediatric Dentistry and Modern Classics.
BEAUXWRIGHT
The building, constructed in 1949, was previously home to Carphonics Sight & Sound. The firm bought the site in February 2016 for $1.4 million, county records show.
Rogers said the property doesn't need any renovations or significant capital investment at this time. Beauxwright's immediate focus will be finding the right retail tenants to fill the remaining two spaces.
"We have a lot of respect for what Lat Purser did here. They took an older building and gave it a new life and were really thoughtful about the businesses that they brought in," she said. "We want to build on that, and have an opportunity to find a couple of new tenants that complement the existing tenants."
Aaron Ligon, Davis Hahn, and Chapman Chastain, of Ascent Real Estate Partners, are handling leasing at the property.
Rogers said adaptive reuse, and especially retail development, is central to how Beauxwright thinks about creating spaces people will want to spend their time and money. She said the firm is actively looking at additional properties around Charlotte that fit its portfolio.
"You can see it in some of our past projects (that) use retail and commercial to give a community a heart and a gathering place," she said. "Plaza Hill fits squarely into that same approach, and Beauxwright is planning to keep going with it."
Its local portfolio includes Sugar Yards, a redevelopment project at the former Asian Corner Mall site. The project, located at East Sugar Creek Road and Greensboro Street, includes a mix of rental and for-sale townhomes and commercial development. Beauxwright is also behind the adaptive reuse redevelopment of 1900 W. Morehead St. The firm transformed the two-story building, constructed in 1957, into 35,836 square feet of office space. Its own headquarters are located in the building.
Beauxwright was founded in 2013. The firm targets acquisitions, development and repositioned assets in the Southeast.