Concordia Properties Acquires Mixed-Use Property In Charlotte For $75M

The mixed-use property located at 2465 Mecklenburg Avenue in Charlotte, North Carolina was recently sold for a price of $75,000,000. Spanning across 78 acres of land, this property offers a diverse range of uses. The transaction took place on November 23, 2021, and involved a total of 454 units, equating to a price per unit of $165,198. The sellers, JEM Holdings represented by Jessica M. Saks, sold the property to Concordia Properties. The deal was facilitated by Watson Bryant and Brooks Colquitt from Cushman & Wakefield.

Summary of Transaction Details:

• Property Type: Mixed-use
• Transaction Amount: $75,000,000
• Address: 2465 Mecklenburg Avenue, Charlotte, North Carolina
• Market: Charlotte, North Carolina
• Acres: 78
• Buyer: Concordia Properties
• Seller: JEM Holdings - Jessica M. Saks
• Brokers: Watson Bryant & Brooks Colquitt - Cushman & Wakefield
• Units: 454
• Price per Unit: $165,198

Watson Bryant and Brooks Colquitt from Cushman & Wakefield played a pivotal role in facilitating this transaction as the brokers representing both the buyer and the seller. This successful sale is a testament to their expertise in the real estate market.