CHARLOTTE, N.C., Nov. 7, 2023—Charlotte-based real estate investment firm Redline Property Partners and its partner Ascent Real Estate Capital announced today that they have commenced construction work on Birkdale Point, fully transforming the existing office project.
The partners purchased the 33-acre property and its four office buildings in April 2023. The project was immediately rebranded as Birkdale Point, reflecting the new owners’ plans to transform the space for today’s economy and strengthen its connection to the retail and entertainment amenities at Birkdale Village.
The property boasts 201,310 square feet of total space, plus excess land that the new owners plan to develop with a complementary use, providing more placemaking amenities for tenants and the local community.
“We are undertaking a complete renovation of Birkdale Point, including the creation of new amenities in order to create an unrivaled experience for tenants who are seeking distinctive office space,” said Andrew Webb, Redline’s president and managing partner. “We’ve tailored the renovation plans to meet the needs of today’s tenants in our quest to deliver an improved property that will provide an exceptional experience at great value.”
New amenities at the transformed Birkdale Point will include:
- Multiple outdoor patios with Wi-Fi to serve as work and gathering spaces
- Building lounge with tenant liquor lockers, billiards, and multiple seating/gathering areas
- Fitness center with shower facilities
- Grab & Go market
Construction plans also include fully renovating all interior common areas, redesigning all entrances and lobbies, constructing new exteriors, upgrading building and wayfinding signage, installing new landscaping, painting building exteriors, and improving the existing footbridge that connects the office park to McDowell Creek Greenway and to Birkdale Village, making it easier for tenants to enjoy all the retail, restaurant, entertainment and outdoor amenities nearby.
“The market’s response to the rebranding and renovation plans at Birkdale Point has been extremely positive,” said Birkdale Point’s primary leasing representative, Kris Westmoreland. “We are receiving interest from a wide variety of companies across the metro area, and we’ve already executed several new leases and renewed existing key tenants.”
The owners have engaged Charlotte-based general contractor C4 Builders, along with architectural firm Redline Design Group, for the project, which they expect to complete in the first quarter of 2024.
About Redline Property Partners
Founded in 2017, Redline Property Partners is a privately owned commercial real estate investment, management, and development firm specializing in office, creative office/flex, and adaptive reuse projects in the Carolinas and Minnesota. Led by a team of industry veterans with an average of 30 years of experience and more than $8 billion of combined transactions, Redline employs innovative strategies to improve asset quality and maximize property value. Using a “block-by-block” granular approach, Redline finds great real estate suffering from short-term distress and transforms properties into spaces adapted for the new economy.
About Ascent Real Estate Capital
Ascent Real Estate Capital is an entrepreneurial real estate investment company headquartered in Charlotte, North Carolina. Its partners are experienced in sourcing, capitalizing, operating, and managing real estate investments across all major property types. Ascent leverages over 60 years of commercial real estate experience to generate creative solutions that combine attractive investment opportunities with positive community outcomes. The company predominantly invests in multi-family and commercial properties that are adjacent to major public and private investments in Charlotte’s infill submarkets. Over the past 7 years, Ascent has successfully completed $500mm+ in transactions and currently has $300mm+ in assets under management.
