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Charlotte, N.C. (Sept. 16, 2020) – Activity is heating up at the corner of Pecan and Central avenues, as developer Crosland Southeast recently announced Foundry Commercial was selected to handle property management for a revitalized shopping center in Plaza Midwood. Earlier this year, it was announced that an existing parking lot and the Central Square shopping center in the heart of the Plaza Midwood neighborhood had been purchased by global investment manager Nuveen Real Estate and Crosland Southeast. The 12-acre site currently features a CVS, the Roasting Company, Yama Izakaya, Bistro La Bon, and Five Guys restaurant, amongst other local businesses.
A phased redevelopment at the property is expected to take up to five years to complete. The pedestrian-friendly project, which will include residences, retail, restaurants, and creative office space, will feature a sustainable tenant mix that includes both new and existing tenants. As property manager of the redevelopment, Foundry will oversee more than 104,000 square feet of retail and approximately 150,000 square feet of office space.
“The greater Charlotte metro remains a high-growth market, and mixed-use developments such as the Pecan and Central project remain a critical component of the region’s smart growth,” stated Susan McGuire, Partner and Foundry’s Head of Client Services, based in Charlotte. “This submarket has been a mainstay in the community, and we look forward to bringing our proactive property management services to this development while staying true to the character and charm of Plaza Midwood.”
About Foundry Commercial
Foundry Commercial is a full-service real estate services and investment company with over 350 employees and more than 58 million square feet of management and leasing across the Southeast and Texas. Since 2007, Foundry has provided leasing, brokerage, building management, corporate services, and project management services, and is the largest real estate service provider to religious and not-for-profit organizations in the country. Foundry also includes a development and investment platform that is fully integrated into its services business, leveraging its local market expertise to control more than one billion in advantaged investment opportunities with their JV partners. For more information, visit www.foundrycommercial.com.