Redline Property Partners has made a $12 million bet on this prime site in Charlotte’s midtown.
The Charlotte-based real estate investment firm has finalized its purchase of the roughly 0.5-acre property at 700 E. Morehead St., according to Mecklenburg County Property records. It includes a 37,305-square-foot, four-story office building that sits at the intersection of Morehead Street and Euclid Avenue.
“We have been trying to purchase on Morehead Street for a long time, just because of our belief in its importance to the city and its future seemingly unlimited growth potential,” says Andrew Webb, Redline’s president and managing partner.
The property benefits from being in the Morehead corridor, part of the midtown submarket, and the nearby development of The Pearl innovation district, hospital expansion and multifamily projects. Demand is high for office space along this corridor.