Charlotte Business Journal - "South End adaptive-reuse project targets office, restaurant, retail tenants"

South End adaptive-reuse project targets office, restaurant, retail tenants

As published by the Charlotte Business Journal

Jennifer Thomas
Aug 10, 2017, 2:17pm EDT

This Charlotte development firm has plans for an adaptive-reuse project in South End.

LCRE Capital says it is under contract for a 20,000-square-foot warehouse at 200 Southside Drive — roughly half a block from The Olde Mecklenburg Brewery.  Its affiliate, LCRE Partners, will handle leasing and marketing of that property.

Plans are to renovate that space into a modern office building. But the developer is open to alternate uses such as restaurant, retail and brewery, says Aaron Ligon, principal and broker with LCRE Partners.

“We expect strong interest in the space based on the demand we’ve seen for quality space in the submarket, and historically low vacancy rates,” he says.

That space should be ready for occupancy by the second quarter of 2018, says Jon Dixon, principal of LCRE Capital.

LCRE Capital specializes in acquiring and revitalizing adaptive-reuse properties across Charlotte, including in NoDa, uptown Charlotte, Plaza Midwood, South End and FreeMoreWest.

Dixon declined to share terms of the deal until it is finalized, though it is beginning to market the space. Costs to upfit will be tenant-driven.

He notes that building has everything LCRE looks for in an adaptive reuse project, including 14.5 foot ceilings, exterior masonry and minimal columns on the interior.

“It’s extremely versatile and built to a standard that would be almost impossible to replicate today,” Dixon says.

He notes the access to highways and proximity to the light rail, parking and vibrancy of the area as additional positives. That building is within walking distance to a number of breweries and entertainment options such as Sugar Creek Brewing Co., Great Wagon Road Distilling Co. and Queen Park Social.

“We’re excited to bring this project to life,” Dixon says.

1616 Center recognized at Vision Awards; Southend projects add retail and restaurants

Southend continues to be one of the fastest growing neighborhoods in Charlotte due to its eclectic culture and close proximity to the Light Rail.  LCRE Partners is proud to be a part of two projects that are contributing to its vibrancy.  1616 Center and Camden Gallery have added 20,000sf of retail to Camden Road, with 6 new restaurants and shops, and more on the way.

 1616 Center, photo courtesy of Beacon Partners

1616 Center, photo courtesy of Beacon Partners

Congratulations to David Furman, Beacon Partners, Axiom Architecture, Edifice and the LCRE Partners team for being recognized at the Vision Awards for 1616 Center.

1616 Center, a nearly 80,000 sf office and retail project, is ambitious in scale and design.  The project was conceived by David Furman at Centro Cityworks, an accomplished developer and architect in Charlotte.  Axiom Architecture and Furman delivered incredible design in the urban context, with street retail, functional stairs connected to the streetscape, and artistic vision throughout the building. Aaron Ligon of LCRE Partners secured the project’s site and collaborated on various aspects of the project. Beacon Partners is the owner and developer of 1616 Center. Charlie Swanson and Kristy Venning have leased the office space in the project to 100%. 

Davis Hahn of LCRE Partners has lead the retail leasing effort at 1616 Center.  2 leases have been signed with restaurants.  Fidelli will offer a number of unexpected and exciting twists on "Fresh, Fast Italian" fare.  A second restaurant has leased 4,600sf on the corner at Camden and Kingston, and plans to announce its concept soon.  One retail space of approx. 1,850 sf remains available.

1616 Center wins "Special Achievement Award" at 2016 Vision Awards. 

 David Furman speaks on behalf of the development team for 1616 Center.  Aaron Ligon (LCRE Partners), Ryan Trimble and Steve Barton (Axiom), Gary Creed (Edifice), and Mike Harrell (Beacon Partners)

David Furman speaks on behalf of the development team for 1616 Center.  Aaron Ligon (LCRE Partners), Ryan Trimble and Steve Barton (Axiom), Gary Creed (Edifice), and Mike Harrell (Beacon Partners)

 David Scott and Davis Hahn of LCRE Partners at the Vision Awards.   Photo Credit:  Austin Caine Photography for Charlotte Center City Partners

David Scott and Davis Hahn of LCRE Partners at the Vision Awards.  Photo Credit:  Austin Caine Photography for Charlotte Center City Partners


 Photo courtesy of Camden Property Trust

Photo courtesy of Camden Property Trust

Camden Gallery was assembled by LCRE and designed by Furman / Axiom Architecture.  This 324 unit apartment, with 10,000 sf of retail was designed to address the community with engaging architecture and walkable retail, rather than parking garages and blank walls.  Camden Property Trust has developed an engaging project that is sure to be one of Charlotte's best residential and retail addresses. 

Blaze Pizza, Charlotte UltraRunning, and Blue Hem have opened so far, with more announcements coming soon.  Please visit if you haven't already.

Davis Hahn and Aaron Ligon at LCRE provided retail leasing.  We have one remaining retail space with patio area available for lease.

Shopping Center to be Renovated in Lower South End Along Light Rail

A local investment group represented by LCRE Partners has acquired the 22,800sf shopping center at 3609 South Blvd.  

The shopping center was developed by Queen City, an audio/video and appliance retailer in the mid-1980’s, and has not been updated since.  It sits adjacent to Scaleybark Station on the LYNX Blue Line in the Lower Southend area.

LCRE Partners will manage a renovation to improve the existing building and provide leasing & property management services.  Opportunities are available starting at 1,600sf for lease to restaurant, retail and service tenants.  Renovations will begin in April 2016.

Frank Scibelli, one of the partners, is excited about the potential for more restaurant and retail in the Lower Southend neighborhood.  His company, FS Food Group, operates expanding concepts such as Midwood Smokehouse, which has signed a lease at Park Road Shopping Center; Yafo Kitchen, a new Mediterranean concept that is opening at Morrison Place in early 2016; and Smokeshack, that is opening in Matthews this year.  

Davis Hahn, a broker at LCRE Partners, believes one of the challenges for retailers in the Southend submarket has been the lack of availability of retail space with an adequate amount of functional parking.  3609 South Blvd has an abundance of surface parking in front of the center, and has excellent visibility along South Boulevard.  The renovation of the center should provide an attractive opportunity for expanding retailers and restaurants, as well as those displaced by new development in Southend.

 Scaleybark Station Project/ image courtesy of Pappas Properties

Scaleybark Station Project/ image courtesy of Pappas Properties

The Lower Southend neighborhood is rapidly transitioning:  Lidl, a popular German grocer, has announced plans to locate just north of 3609 South Blvd, on the recently sold “Radio Center” property at 3229 South Blvd; Pappas Properties is developing a large mixed-use center across the street from 3609 South Blvd at the SW corner of Clanton and South Blvd, to include Office, Hotel, Retail, Townhouse, and Apartment uses, as well as 2 parking decks for more than 2,000 cars; and Marsh / Aston Properties is under construction on a new Harris Teeter anchored retail center at Sedgefield and South Blvd. 

Sandee Hansen at Yadkin Bank provided debt financing for the acquisition.  John Maheras at Horack Talley provided legal counsel.  Aaron Ligon and Davis Hahn at LCRE Partners are providing real estate services, and co-invested in the acquisition.

For leasing information, please contact Davis.Hahn@lcrepartners.com at 704-534-0116

Flight leases 10,270sf at Northside Station; Second lease Signed for Former Cosmos location

LCRE Partners is pleased to announce the upcoming opening of Flight at Northside Station.  Flight is a “North Carolina-centric traditional beer and music hall” that will feature live music, and 80 regional and local beers on tap.  Flight plans to open in early April.

Northside Station is a 33,400sf retail destination at 300 North College St. in Uptown Charlotte.  The property was previously home to Charlotte nightlife concepts such as Cosmos, Have a Nice Day Café and Mythos. 

   Flight bar under construction / Image courtesy  of Charlotte Agenda

  Flight bar under construction / Image courtesy  of Charlotte Agenda

A second lease has been signed for the former Cosmos location.  The operator plans a family-style Italian restaurant and wine bar that is under construction currently and anticipates opening in early May.

LCRE Partners provides leasing and property management services at Northside Station, where there are other new bar and restaurant announcements coming soon.

Starbucks Signs Lease as Anchor Tenant for University Shops Retail Development in Johnson City, TN

LCRE Partners is developing University Shops in Johnson City, TN, a 14,000sf retail center at the intersection of University Pwky and West State of Franklin Road.  This important intersection and location is adjacent to East Tennessee State University, Quillen Medical College, Quillen VA Hospital, and Mountain States regional hospital.

Starbucks will lease 2,050sf on the end-cap of the phase one retail building.  The location will have a drive-through and will compliment their other successful stores in the market.  The remaining 4,200sf in phase one is available, but under negotiation with retail and restaurant tenants.

LCRE Partners is seeking regional and national tenants for retail and restaurant space for phase one and phase two of the development.  Construction will begin in March 2016, and is scheduled for completion in the Summer of 2016 for the start of the Fall Semester at ETSU.

Please contact Heath Knott for marketing information on University Shops. Heath.knott@lcrepartners.com or 704-576-6096, or online at lcrepartners.com

Ligon CRE rep's Legion Brewing into Plaza-Midwood

Article from Charlotte Biz Journal

Legion Brewing kicks off construction of Plaza-Midwood home (PHOTOS)

May 13, 2015, 1:54pm EDT

Jennifer Thomas

Legion Brewing is wasting no time in transforming its Plaza-Midwood home.

Construction at 1906 Commonwealth Ave. ramped up last week — on the same day final permits for the project were issued, says Phil Buchy, who has teamed up with Newton Craver on the venture.

Within 24 hours, the taproom and restrooms had been framed out. On the first level, preparations for a 15-barrel brewhouse were ongoing, first ripping out the existing concrete slab. A new floor was poured earlier this week.

Legion hopes to open its doors by early fall, Buchy says. “What we’re planning, our inspiration, is to be an all-American brewery,” he says.

All of the brewhouse’s equipment is American-made and was purchased north of Greensboro.

Buchy has been working on plans for the brewery since 2007. He notes he was looking for investors when the economy crashed.

Then he and Craver met through church and decided to take on the project together.

The duo has a clear-cut vision for the 11,000-square-foot space, down to the vibe it has. Legion’s tagline is "friends and beer."

“We want to create a culture that’s more of a legion of friends,” Craver says. “There’s nothing better than friends and beer.”

The brewery’s location was formerly occupied by the Brodt Music Co.

Legion will pay homage to the building’s history by incorporating bookshelves, wood and signs from Brodt Music.

“What we want is somebody to come in here and feel like it’s always been here,” Craver says. “Incorporating what was here before is part of that.”

During a recent visit to the space, a line drawn in the dirt on the floor depicted where the bar will sit. Plans call for the bar to have a sort of butcher-block look, made from a couple of thousand squares of end-grain wood, Buchy says.

“Obviously, your eyes are going to be drawn to the bar,” he adds.

The area around the bar will be standing-room-only, with drink rails providing an option for patrons. Or they can take advantage of table seating in the 2,700-square-foot taproom.

A section of the taproom will be dedicated to live music and feature murals and musical decor, including musical instruments used as light fixtures.

The venture will have a small kitchen and will eventually offer snacks such as charcuterie and cheese.

“We don’t want to compete with the neighborhood — we want to complement the neighborhood,” Buchy says.

French doors will be added, providing a view of the city skyline.

An existing brick wall will be removed, and a mezzanine overlooking the 5,000-square-foot brewhouse will enable guests to peek into Legion’s operations.

The brewhouse will have capacity to produce 3,500 barrels per year, with room to expand.

Downstairs, a natural cellar provides the perfect space to barrel-age brews. Legion will produce American farmhouse-style beer, including lagers and ales.

It plans to pull inspiration from local products when possible. That may mean incorporating peaches or honeysuckle into beer recipes.

A second phase of the project will add a private room and beer garden.

Davis Hahn of Ligon Commercial Real Estate represented the brewery.

Jay Levell of White Point Partners is the landlord.

New spaces available at the Foundry

Updated rendering.jpg

In 2014, Ligon CRE brokered the acquisition of the Cedar Street Design Center in the Charlotte CBD.  This mixed use 50,000+ sf development in the center of Charlotte's 3rd neighborhood is home to a vibrant mix of design, office, retail and restaurant tenants.  

In 2015, this property is being renovated in repositioned as "The Foundry", a re-imagining of the original foundry property.  Please visit the Foundry website at www.theFoundryCharlotte.com for more information on the property and current tenants.

We have space available for office, general commercial, retail and restaurant users from 1,000 - 6,500 sf.

Please contact Davis Hahn (vCard) for more information about the property by phone at 704.534.0116 or by email at davis.hahn@ligoncre.com.  

Ligon CRE selected to market BNA | Riverwalk

Ligon CRE is pleased to market a new mixed-use commercial building in the innovative Riverwalk community in Rock Hill, SC.  Please contact Heath Knott (vcard) or Davis Hahn (vcard) for more information about office or retail spaces for lease.

 BNA | Riverwalk

BNA | Riverwalk

The BNA building at Riverwalk will be a 5 story, state of the art office and retail center located in the heart of the River District at the Riverwalk in Rock Hill, SC. 

The location of the building is right at the mouth of the Carolina Thread Trail, which currently has approximately 10,000 visitors a month.  Pulling on the themes of the river, the BNA building takes a modern approach to soothing waters of the Catawba and the tall trees of its banks. 

The BNA building is anchored by Bernard N. Ackerman, CPA, P.A. - an accounting firm with over 35 years of experience in Rock Hill and York County. The BNA team will occupy the top two floors. 

 Riverwalk

Riverwalk

The BNA building is proud to be the first office building to be built in the River District of the Riverwalk.  The Riverwalk is a unique multiuse development combining living, working, and recreational spaces. 

Partnering with the city of Rock Hill, Riverwalk is home to the Giordana Velodrome, a BMX bike track, the Carolina Thread Trail, and numerous other parks, bike paths, and ball fields.  The River District, where the BNA building will be located, will be the premier shopping and dining center in Riverwalk and is the only location with direct views of the Catawba.  For more information about  Riverwalk development please visit their website at www.riverwalkcarolinas.com

Ligon CRE to list 2 investment properties

Ligon CRE is listing 2 investment properties that are new to market in April 2015.  

Davis Hahn and Aaron Ligon are listing a free-standing, net leased restaurant in the Fort Mill / Tega Cay Submarket.  This is a 10-year NNN leased asset available at $1.4mm ~ 7%+ cap rate. 

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Davis Hahn and Aaron Ligon are also listing a net-leased office building in Charlotte, which is a 10-year net lease to single office tenant. This property is listed at $4.5mm ~ 8%+ cap rate. 

Please contact us for more information.  

Ligon CRE Brokers among Top Producers in 2014

Heath Knott, Davis Hahn and Aaron Ligon are named among the top producers in Commercial Real Estate in the Charlotte MSA in 2014.  

The CRCBR Deal Makers Awards Program recognizes brokers and developers in the commercial real estate industry who have accumulated sales transactions of over $2 million in 2014.

The Silver Award is for Brokers receiving credit for more than $5mm of transactions, when counting only the broker's portion of the transaction.