CHARLOTTE, NC (Ely Portillo/The Charlotte Observer) - A block of industrial buildings in a booming part of South End could soon be seeing new life as shops, offices, restaurants or bars, after a new owner bought them for $4.25 million.
The buildings at West Bland and South Church streets were purchased by a company affiliated with New York-based Magnus Capital Partners in a deal that closed earlier this week, real estate records show. The privately held real estate investment company focuses on mixed-use and multifamily development.
The buildings are across from popular beer bar Craft Tasting Room and the Unknown Brewing Company, and near hundreds of new apartments that have opened in recent years. Popular eatery Seoul Food Meat Co. is also nearby.
The oldest building on the block dates to 1920 and was the site of Charlotte's first bus maintenance facility. Buildings on the site total 42,000 square feet.
Jim and Brooks Whiteside of Whiteside Industrial Properties represented the seller, a company called Bob Poffenbarger LLC.