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CHARLOTTE, NC (Will Boye/Charlotte Business Journal) -
A developer for Publix Super Markets Inc. confirms the supermarket chain plans to open a store in South End and expects construction to begin in mid-2013.
Daniel Levine, president of Levine Properties, says his company and real estate firm Stiles will develop a 55,000-square-foot Publix store at a 4-acre site on South Boulevard.
In November, the Charlotte Business Journal broke the news that Publix was planning a store at the property, just south of the Atherton Mill retail development and across the street from a Lowe's Cos. Inc. store at the intersection of South Boulevard and Iverson Way.
Levine says the project will feature about 8,400 square feet of additional retail space and two levels of underground parking. The project is expected to be complete in 2014, he says. "It's undeniable that it's a strong demographic and growing," Levine says of the South End area, which is being transformed by a wave of multifamily development.
A limited liability company managed by Stiles purchased the property last week for $5.75 million.
Florida-based Stiles is a preferred developer for Publix. The firm has formed a joint venture with Levine Properties to develop grocery-anchored retail centers in the Carolinas.
The two firms also are developing a Publix in the Ballantyne area, the grocer's first location in Charlotte.
The South End location will be an "urban-format" store for Publix, similar in some ways to a three-story supermarket Stiles developed for Publix in Miami. For a look, check out this story from the South Florida Business Journal, a sister publication.
Publix opened its first two Charlotte-area stores in Tega Cay and Indian Land in October. The company has said it is "aggressively looking" for property in the area and last month named an executive to head its Charlotte division.
The seller of the South Boulevard property, a limited liability company called Southside Investments, was represented by Stuart Ingram and Thomas Evans of CBRE Group Inc. John Culbertson of Cardinal Real Estate Partners represented the buyer, a limited liability company called South End Partners.
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