The CBJ is full of news today. So apparently Pappas and Colonial are putting Metropolitan up for sale. Hopefully it will attract a buyer for this ongoing concern and then giving Pappas and Colonial the capital it can put to use developing something new in town.
6
"Metropolitan" Midtown Redevelopment
Started by
uptownliving
, Jun 30 2004 09:23 PM
1603 replies to this topic
#1601
dubone
-
- Moderators
-
- 8,714 posts
Metropolitan Area
- Location:Uptown Charlotte
Posted 25 May 2012 - 09:44 AM
#1602
norm21499
-
- Members+
-
- 915 posts
Hamlet
- Location:Charlotte
Posted 25 May 2012 - 10:29 AM
dubone, on 25 May 2012 - 09:44 AM, said:
The CBJ is full of news today. So apparently Pappas and Colonial are putting Metropolitan up for sale. Hopefully it will attract a buyer for this ongoing concern and then giving Pappas and Colonial the capital it can put to use developing something new in town.
The Metropolitan is an on-going concern for Pappas and Colonial?
#1603
dubone
-
- Moderators
-
- 8,714 posts
Metropolitan Area
- Location:Uptown Charlotte
Posted 25 May 2012 - 12:29 PM
No. I mean, it is 90% leased, so they can sell it to investors looking for the cashflow, take the asset off of Pappas and Colonial's hands, who can then take that $110m and use it to develop a new project.
#1604
mallguy
-
- Members+
-
- 2,119 posts
Burg
Posted 25 May 2012 - 07:50 PM
Interesting to read (in the CBJ article) that Home Depot owns its former Expo Design Center space at Midtown.
I'd think that Home Depot would be doing ANYTHING to find a replacement tenant to occupy the space, or would sell it back to the center's developers.
I'd think that Home Depot would be doing ANYTHING to find a replacement tenant to occupy the space, or would sell it back to the center's developers.
2 user(s) are reading this topic
0 members, 2 guests, 0 anonymous users
