CHARLOTTE — Hines Global Income Trust has closed on the $170 million acquisition of a historic South End property.
Houston, Texas-based HGIT acquired The Design Center of the Carolinas from Asana Partners in a deal that closed on July 21, according to Mecklenburg County real estate records. HGIT is the public investment arm of Hines, a full-service commercial real estate investment, development and property management firm.
The Design Center, formerly the Nebel Knitting Mill, is a historic set of buildings dating back to the late 1920s. They are bordered by Camden Road, Hawkins Street, and Worthington and Tremont avenues.
Paul Zarian, managing director of the Carolinas at Hines, said The Design Center’s evolution has successfully drawn in retailers, office users and community members over the last decade. “With a strong mix of creative tenants and established neighborhood energy, we believe that the property is well positioned to benefit from Charlotte’s continued growth,” he said.
Read the full story on CBJ’s website here.
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