Charlotte, NC (July, 2015) – MPV Properties, one of the area’s leading providers of commercial real estate services, announces the former Kmart at 2401 Sardis Rd North in Crown Point was sold to G&I VIII SARDIS ROAD LLC, a joint venture between DRA Advisors LLC and Mainstreet Capital Partners. Plans are to transform the 160,000 square foot big box retail building to an office use.
Peter Tonon of Mainstreet Capital stated, “Mainstreet Capital Partners and DRA Advisors believe this investment represents an excellent opportunity to repurpose the vacant building. We are constructing new exterior and interior finishes to deliver fresh, contemporary office space with maximum parking capacity and flexibility for large, high-density users. Please contact Charley Leavitt, at JLL, for leasing information: 704.927.3002, charley.leavitt@jll.com.”
Keely Simerville of MPV Properties represented the Seller in the transaction and the Purchaser was represented by Brad Grow of Colliers International.
About MPV Properties
MPV Properties is one of the Charlotte area’s leading office, industrial, retail and land brokerage, and development and management firms. For more information, visit www.mpvre.com.
About DRA Advisors, LLC
DRA Advisors LLC is an SEC registered investment advisor headquartered in New York with offices in San Francisco and Miami. DRA’s investors include public and corporate pension funds, endowments, foundations and financial institutions. As of March 31, 2015, DRA has invested in over 1,200 properties valued in excess of $22 billion including: 169 office properties, 164 shopping centers, 306 industrial properties, 217 apartment communities and 419 specialty.
About Mainstreet Capital Partners
Fort Lauderdale-based Mainstreet Capital Partners was started by Paul J. Kilgallon in 1999. Mainstreet has completed 25 acquisitions to date, valued at over $1.1 billion dollars and totaling over 7.2 million SF in Atlanta, Georgia; Phoenix, Arizona; Denver, Colorado; Charlotte, North Carolina; Charleston, South Carolina; Tampa, Florida; Jacksonville, Florida; and Fort Lauderdale, Boca Raton and West Palm Beach in South Florida.
