CHARLOTTE — Charlotte Pipe and Foundry has hired commercial real estate firm CBRE to market the company’s 55.5-acre uptown site bordering South End, the company confirmed Wednesday.
The site includes the company’s cast iron foundry, established more than a century ago. In 2020, Charlotte Pipe disclosed plans to build a new foundry on a 480-acre site in Stanly County. The $325 million project is scheduled to open late next year in Oakboro, where Charlotte Pipe will employ 400 people.
The relocation agreement includes $50 million worth of local and state incentives.
But it is the uptown property that has driven intense speculation as Charlotte Pipe successfully sought mixed-use zoning — approved by City Council in December 2021 — and stated its interest in attracting new development on a prime piece of real estate.
In January 2021, the company said that “a vibrant, urban center with a mixture of uses may be a more appropriate future for our property.”
Twenty-four national developers have toured the site in the past 18 months. Charlotte Pipe and company advisers spent the past two months interviewing real estate firms before selecting CBRE.
Keep reading the Charlotte Business Journal’s coverage here.
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