CHARLOTTE, N.C. — There’s been a flurry of real estate deals near the Lynx Scaleybark Station — three in the past month have been at one intersection.
Most recently, Charlotte-based Proffitt Dixon Partners acquired about 3 acres at the southwest corner of Dewitt Lane and Tryclan Drive. Proffitt Dixon paid $10.2 million for the land, which it acquired from multiple owners, according to Mecklenburg County real estate records.
There, the firm plans to build 343 apartments. Patrick Gildea, Kevin Kempf and Matt Smith at CBRE represented the sellers in the transaction.
“We saw significant interest from buyers who are looking to capitalize on the strong market fundamentals in the South End/midtown submarket,” said Gildea, vice chairman with CBRE, in a statement. “This area has consistently been the most desirable area in Charlotte for the past several years, with office and multifamily rents rising an average of 5% to 10% annually.”
What was previously mostly owned by Charlotte-based Beacon Partners has been sold to individual developers and owners for what will ultimately become a mixed-use destination spot. Nearby, dozens of townhouses by PulteGroup delivered in phases a few years back.
Click here to check out CBJ’s roundup of projects that are planned or underway in that area.
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