CHARLOTTE, N.C., Apr. 12, 2023 – Charlotte-based real estate investment firm Redline Property Partners and its partner Ascent Real Estate Capital have purchased NorthPointe Executive Business Park, consisting of four office buildings and vacant land in Huntersville, N.C. The property is connected to the placemaking Birkdale Village mixed-use master development. Redline and Ascent will completely renovate and rebrand the four office buildings and plan to develop the excess land.
“NorthPointe offers a boutique office environment in a main street setting, with urban walkability and upscale lifestyle amenities,” said Andrew Webb, Redline’s president and managing partner. “Our renovations will add significant value to a set of office buildings that has not seen meaningful investment in more than 16 years, delivering a unique and differentiated option to the community. NorthPointe offers Redline the opportunity to exercise its mission of delivering creative, distinctive office space while providing an exceptional experience and great value to our tenants.”
The property is strategically located immediately off I-77 at the coveted Exit 25 and consists of four buildings with 201,310 square feet of office space on 33.59 acres. It is connected to Birkdale Village and the miles-long McDowell Creek Greenway via a footbridge.
The location and ease of accessibility allows companies to attract and retain employees from multiple talent pools in the entire metro area. Building tenants also benefit from substantial surface parking, building signage opportunities, efficient floor plates with abundant natural light and a highly amenitized and walkable location.
As part of the purchase, Redline and Ascent will rebrand the property and will immediately begin property-wide capital improvements. They will transform the building’s exteriors, common areas and restrooms; redesign and upgrade entrances and lobbies; and create unique tenant lounges, fitness centers and outdoor spaces. They also will upgrade most of the building’s systems and will implement their tailored, concierge-style management platform to better serve building occupants.
To deliver the best service possible, Redline will manage the property and has enlisted the services of Joe Franco, Kris Westmoreland and Emily Hill with CBRE for leasing services.
“Our renovations and development will breathe new life into the property in this already vibrant community, giving people more opportunities to live, work and play in and around Birkdale Village,” said Jon Dixon, managing principal of Ascent Real Estate Capital. “The redevelopment will provide tenants with exceptional visibility, creative space options and unrivaled amenities.”
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 $400mm+ in transactions and currently has $300mm+ in assets under management.
