CHARLOTTE, NC – (May 13, 2022) - Providence Group Capital, a Charlotte based commercial real estate investment and development company, announced today that it has closed on the acquisition of four properties located at a prime intersection in South End; the corner of South Tryon Street and Remount Road in Charlotte, North Carolina. The four properties, which combined total approximately 1.75 acres, include: 2513 South Tryon Street, 2519 South Tryon Street, 2535 South Tryon Street, and 318 Remount Road.

Providence Group Capital, which has now made thirteen 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 to TOD-UC. These properties were targeted for purchase by Providence Group Capital due to South End’s explosive residential, office, brewery, restaurant, and entertainment growth. The firm is under contract to purchase an additional 5 properties in South End/LoSo before the end of the year.

Three existing businesses; Cheap Joe’s Art Stuff, Charlotte Community Tool Bank, and Morales Tire’s Auto Shop will continue to operate on the property for some period of time before relocating to new facilities elsewhere. The sellers of the 4 parcels were represented on this transaction by Lawrence Shaw and Rob Spier of Colliers International’s Charlotte office.