CONCORD, N.C - An affiliate of MPV Properties in Charlotte has bought a former Kmart property in Concord with plans to redevelop it for retail and entertainment uses.
MPV wants to create a “multitenant income producing investment” in the former 175,000-square-foot building. Construction work on the site is scheduled to begin next month.
Last month, Concord Retail Investment Group, a company with connections to MPV, paid $5.9 million for the 26 acres at the now-closed Kmart, at 545 Concord Parkway North in Concord. The former owner was listed as Seritage KMT Finance of New York.
“MPV intends to re-tenant the remaining space in the building with other entertainment and retail uses, however, no new tenants are being announced at this time,” MPV says.
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