Rob Cochran, Jared Londry, Jordan McCarley and Nolan Ashton of Cushman & Wakefield represented the seller, Aston Properties, in the transaction. Frequent partners Avery Hall and Aria Development Group teamed up to acquire the land and plan to develop a Class A multifamily building at the site.
“Sky-rocketing home values in surrounding submarkets have helped propel the value proposition of NoDa’s rental market in recent years,” Cochran said. “While supply projections show a healthy pipeline, investors should find comfort that NoDa consistently ranks as one of the top submarkets for absorption in the Charlotte MSA.”
Located at 3114 and 3214 N. Tryon Street, 36th & Tryon offers seamless access to Charlotte’s predominant white-collar employment centers. Uptown offers 140,000+ jobs within 10 minutes from the site, while 75,000+ jobs are in University City less than 15 minutes away. NoDa, one of Charlotte’s most walkable submarkets, is home to more than 40 unique restaurants, bars and retailers.
Aston will retain the existing ±14,000-square-foot building and ±2-acre tract of land adjacent to the Avery Hall property. Amélie’s, a French-inspired café, has plans to relocate its flagship bakery into ±8,000 square feet of the existing building. Amélie’s anticipated fall 2020 opening has been delayed due to COVID.