Charlotte developer sells Plaza Midwood office
// Charlotte business journal
Charlotte-based Boulevard Real Estate Advisors closed this week on the sale of a mixed-use development in Plaza Midwood.
The firm sold the 26,816-square-foot boutique development at 1800 Central Ave. to Raleigh-based Edgewater Ventures. The $6.5 million acquisition closed on Dec. 9.
Trinity Partners' Dunn Mileham, David Morris and Eric Jennings handled the transaction on behalf of the seller. Edgewater represented itself in the transaction.
Tim Skender, principal at Edgewater, said the acquisition was a good opportunity in a submarket that is thriving.
"We’re big believers in lifestyle office or neighborhood office," he said. "1800 Central is well-located, in a dynamic, growing (submarket) where the neighborhood is the amenity for the people who office there. There’s a lot of momentum in Plaza, broadly speaking."
Skender said Edgewater is planning speculative suites in the remaining vacant space. The firm will begin permitting in January, he said, with plans to deliver by summer 2025.
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