Charlotte’s 114,876 Square Foot Tower Place Festival Sold

Tower Place Festival, an 114,876-square-foot community center located at 8700 Pineville Matthews Rd. in Charlotte, sold for $12.7 million. It is 80 percent leased and anchored by a Bally Total Fitness with several other national tenants including Bruegger’s Bagels, Empire Beauty Academy and Once Upon A Child. Robert Podewils of the Charlotte-based Divaris Real Estate, represented the seller. The buyer was a New York-based group of private investors. 
Tower Place Festival is a single-story, retail center comprised of three separate buildings that were completed in 1985. Tower Place Festival is situated in a highly visible location with four ingress points. The center is well maintained and has easy, convenient access to I-485 and I-77.

The Property is located on a 10.77 acre, landscaped site located less than ½ mile from Carolina Place Mall and near the intersection of Park Road and Highway 51, Pineville, North Carolina. The area is upscale, white collar with HH incomes of $72,000 in 3 miles.

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