Providence Group Capital Acquires Five LoSo Parcels in Charlotte, NC
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Providence Group Capital Acquires Five LoSo Parcels in Charlotte, NC
CHARLOTTE, NC – (April 22, 2022)
Providence Group Capital, a Charlotte based commercial real estate investment and development company, announced today that it has closed on the acquisition of five properties located in the heart of LoSo at the corner of South Tryon Street and Clanton Road in Charlotte, North Carolina. The five properties, which combined total approximately 2.34 acres, include: 3500 South Tryon Street, 3514 South Tryon Street, 3526 South Tryon Street, 422 Blairhill Road, and 428 Blairhill Road.
Providence Group Capital, which has now made nine new property investments in South End/LoSo in the last 12 months, does not currently have any specific development plans for the properties but did recently rezone the parcels from I-1 to TOD-UC (CD). These properties were targeted for purchase by Providence Group Capital due to LoSo’s explosive residential, office, brewery, restaurant, and entertainment growth. The firm is under contract to purchase an additional 9 properties in South End/LoSo before the end of the year.
Two existing businesses; Brewer Automotive and Providence Paint Company, will both continue to operate on the property for some period of time before relocating to new facilities elsewhere. The sellers of the 5 parcels were represented on this transaction by Lawrence Shaw and Rob Spier of Colliers International’s Charlotte office.
Providence Group Capital, a Charlotte based commercial real estate investment and development company, announced today that it has closed on the acquisition of five properties located in the heart of LoSo at the corner of South Tryon Street and Clanton Road in Charlotte, North Carolina. The five properties, which combined total approximately 2.34 acres, include: 3500 South Tryon Street, 3514 South Tryon Street, 3526 South Tryon Street, 422 Blairhill Road, and 428 Blairhill Road.
Providence Group Capital, which has now made nine new property investments in South End/LoSo in the last 12 months, does not currently have any specific development plans for the properties but did recently rezone the parcels from I-1 to TOD-UC (CD). These properties were targeted for purchase by Providence Group Capital due to LoSo’s explosive residential, office, brewery, restaurant, and entertainment growth. The firm is under contract to purchase an additional 9 properties in South End/LoSo before the end of the year.
Two existing businesses; Brewer Automotive and Providence Paint Company, will both continue to operate on the property for some period of time before relocating to new facilities elsewhere. The sellers of the 5 parcels were represented on this transaction by Lawrence Shaw and Rob Spier of Colliers International’s Charlotte office.
