The Charlotte Ledger: 5 acres near Bank of America Stadium sell for $36M


The following article appeared in the 1/26/22 edition of The Charlotte Ledger, written by Tony Mecia:

5 acres near Bank of America Stadium sell for $36M

There’s more land intrigue around Bank of America Stadium: Property records show that 4.87 acres consisting of three office buildings and vacant land sold this week for$36.25M.

The sale consists of 8 parcels at the intersection of South Cedar Street and West Hill Street known as The Foundry, which is on the northern side of the train tracks that run behind the stadium. The buyer is listed as a Delaware company called AP Foundry, which happens to share an address in Columbia, S.C., with Charlotte-based urban mixed-use developer Asana Partners. And also coincidentally, the words “Asana Partners” happen to start with the letters “AP.” (It doesn’t take a Wordle genius to deduce that one.)

(Photo courtesy of Beauxwright LLC)

After we unearthed the deal in real estate records, the sellers — Beauxwright and Ascent Real Estate Capital — sent out a news release late Tuesday. “We’re grateful for the opportunity to play an integral role in the ongoing transformation of our creative Charlotte community,” said Chris Warren, Beauxwright principal. The site was the location of a 1920s iron production facility, but the industrial buildings have been renovated for office and retail space. The sale includes “2.5 acres of additional land for future development,” the release said. CBRE brokered the deal.

There’s been a lot of real estate activity in the area recently:

·   In December, a real estate holding company affiliated with Carolina Panthers owner David Tepper bought four parcels totaling 4.6 acres at 1040 W. Morehead Street for $15.5M.

·   Also in December, the City Council approved a rezoning for 55 acres of Morehead Street land owned by Charlotte Pipe & Foundry, and one of the possible uses is a stadium. The land appears to be on the market, but the company told The Ledger earlier this month that there’s no deal to sell.— TM

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