Why Charlotte Retail's On A Growth Trajectory
Retail's seen the slowest recovery of any property type in most markets, but Charlotte's an exception, supported by strong job growth (2.6% year-over-year as of August, the Richmond Fed says) and in-migration. And that's leading to major retail renovations, like the one just completed at Kings Square.
MPV Properties' Mary Bryant, who worked on the Kings Square project in the Cherry neighborhood, tells us she anticipates continued demand for all retail segments in Charlotte as the population continues to grow. That's especially true for infill locations close to the more densely populated residential and office pockets, she says.
Existing tenants remained open during the remodel, which consisted of improvements to the exterior of the building. Uncle Maddio's Pizza Joint opened at the property last month, and the Cyclebar indoor cycling studio opened last week. Along with Mary, colleagues Eric Nichols and J.Q. Freeman oversaw the project and the leasing of the center, which is also benefiting from new mixed-use nearby.
