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I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2019
Building Area

Property Description

Centro Railyard is located within Charlotte's South End, a former industrial area that has completely transformed following the development of the Blue Line Light Rail in 2007. Located just south of Charlotte CBD (120k jobs), South End has emerged a true world-class submarket with 2.1M square feet of office space currently under construction. Centro Railyard is attached to one of the most recent office developments, The Railyard*, which includes 320k square feet office and retail spaces. Office tenants include AllState, Ernst & Young, and Parsons; while retailers include STIR, North Italia, and Rhino Market, a bodega-style shop with local drinks, sandwiches, and more. Additional employers in the area include Dimensional Fund's East Coast HQ with spaces for LendingTree's HQ and Lowe's Technology Center under construction. South End boasts a surging young professional profile. The population within a 1-mile radius has grown at a 9.3% CAGR since 2010, and 72% of residents are between ages 18-34. These residents are well-educated (68% have earned college degrees), high-earning ($86.5k median income), and most likely to rent (80% of homes are rented). To cater to this young professional population, Centro Railyard evokes an elevated lifestyle marrying entertainment, luxury, and connectivity. Differentiated unit features include soft-close cabinets, black matte hardware, and soaring 10' - 17'9" ceiling heights. Spanning onsite quality to dynamic location, Centro Railyard offers investors an exciting opportunity to acquire a uniquely designed asset with tangible growth underway at the property, submarket and MSA-level.

Investment Highlights

  • ? Differentiated Product, encompassing boutique luxury apartments with 10’ - 17’9” ceilings and premier design elements, unmatched streetscape, and innovative retail amid South End’s RailYard project (329k SF Class AA Office)
  • ? Intersection of Culture and Commerce, proximate to 13 breweries and bottle shops, 81+ restaurants, 124+ rapidly expanding retail options, the 3.5-mile Rail Trail, 4 LYNX Light Rail stations, and 3.6m sq.ft. existing Class A office within Charlotte’s historic South End
  • ? Buoyed by South End’s Growth Trajectory, boasting $3.4B in investment, 2.1M SF future office, and 3,750 new jobs announced across EY, Lowe’s, LendingTree, Dimensional Fund Advisors, Better.com
  • ? Capturing Dynamic Demographics, featuring 9.3% CAGR since 2010 in attracting the coveted affluent young professional resident profile
  • ? Positioned within a High-Growth “18-Hour” MSA, ranked #4 in ULI’s Overall Real Estate Markets and further strengthened by major job announcements (Honeywell, Centene, Truist, AvidXchange)
Last Updated Date: 30 Sep 2020
Allan Lynch
Allan Lynch
Senior Director, Capital Markets
License details
NC-277156
Caylor Mark
Caylor Mark
Director, Capital Markets
License details
GA-372001 NC-303058 SC-116563

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Last Updated Date: 30 Sep 2020

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