CHARLOTTE (QUEEN CITY NEWS) — Uptown Charlotte’s Epicentre, a facility with dining, entertainment, and shopping that fell under foreclosure last year, not only has a new owner but a new name and vision.
The 302,324-square-foot mixed-use development will now be called Queen City Quarter.
The property was sold in August 2022 after several auction delays. Deutsche Bank, the lender who loaned out millions to the property’s previous owner, took over the Epicentre with its $95 million bid.
CBRE announced on Tuesday that it will lead marketing, property management, and renovations at the Uptown location. Significant repairs to the courtyard, parking garage, patios, and roof are underway and expected to be complete by year-end, they said.
In 2023, the property’s public staircases and escalators will also be renovated, and new landscaping, lighting, and benches will be installed.
CBRE said there will be a focus on property safety and an extensive security camera system has been installed onsite. “These improvements are in addition to the deferred repairs and maintenance completed to date while the property was in receivership, which included removal of former tenant signage,” they said.
We are living through a time where we have to think differently about everything, including real estate assets. When we were engaged to think about the strategy for the former Epicentre, it became clear to us that the property didn’t have a leasing problem, but rather a real estate problem. It has great bones, a great location — it just needed a fresh approach, new ideas, and a new narrative.
Jeff Pollak, Managing Principal of Streetsense
CBRE said Queen City Quarter can accommodate traditional retail, restaurants, and office tenants in addition to creative offices, medical offices and various other office and retail uses.
Queen City Quarter will transform the heart of Charlotte’s iconic Uptown into a vibrant corporate and family friendly hub. It offers a unique destination with new ownership and a new vision that will hopefully attract the finest amenities to the city’s urban core.
Compie Newman, Managing Director of CBRE’s Charlotte office
The Epicentre opened in 2008 and is located on College Street, between Trade and Fourth Streets.
CBRE said the mixed-use center is within walking distance of Charlotte’s biggest attractions, including Spectrum Center, Bank of America Stadium, and the Charlotte Convention Center.