It’s now clear what two office towers in SouthPark are worth: $192.5 million. We also know more about what an out-of-state commercial real estate firm has planned for the 10-acre site the towers sit on.
Crestlight Capital, which has offices in Detroit and New York, is planning to keep the office towers located at 6000 and 6100 Fairview Road.
But the firm now wants to bring 300 apartments, an additional 112,000 square feet of medical office space and nearly 40,000 square feet of retail, according to a rezoning petition filed last week with the city of Charlotte.
Crestlight purchased the 14-story tower at 6000 Fairview Road for about $106.5 million, according to Mecklenburg County property records. It purchased the 13-story tower at 6100 Fairview Road for a little over $86 million. In May, Crestlight declined to disclose the sales price.
It was the firm’s first investment in Charlotte.
Crestlight said it planned to renovate both buildings, including cosmetic improvements to the outdoor space and indoor common areas. The company was also planning to possibly add an amenity lounge.
The team has retained CBRE to manage and lease the property, according to Crestlight.
Mixed-use development sought
Combined, the two towers make up about 535,000 square feet of office space.
Crestlight is seeking to rezone the site to mixed-use to develop additional buildings with more office, retail and apartments.
The firm has said it was attracted to SouthPark Towers for the high quality and overall good condition. It also liked the location, including ease of access.
The 10-acre site is around the corner from the popular mall.
Crestlight declined to discuss any further details about its plans are for the site.
This story was originally published August 01, 2022 2:17 PM.
