CHARLOTTE, N.C., Apr. 28, 2023—Real estate investment firm Redline Property Partners announced today that it has sold excess land at its Sun Court project in Peachtree Corners for development as a mixed-use property. Spalding Site Partners LLC, a development partnership led by Fred Kay and Bruce Fernald, has acquired the 2.2-acre site. The new development will include 170 high-end residential units, ground-floor retail, fitness center and an extension to the Peachtree Corners public trail system.
The site is located adjacent to the 2 Sun Court office building in the heart of Peachtree Corners, just off Peachtree Parkway. The new development will join Redline’s four-story, 98,040-square-foot office tower Sun Court on the site.
“We are thrilled to put this excess land into development, bringing even more best-in-class amenities to our Sun Court office tenants,” said Andrew Webb, Redline’s President and Managing Partner. “With this development, Sun Court will become an even more vibrant live-work-play destination in Peachtree Corners.”
Redline purchased the Sun Court property in 2017 and immediately began building-wide capital improvements to the office tower, including rebranding the building and renovating all common areas, plus creating a new outdoor tenant lounge.
Mark Lindenbaum with JLL represented the owner in this transaction.
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. Redline employs innovative value-creation 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 those properties into spaces adapted for the new economy.
