How ‘Micro Retail’ Planned At This South End Project Opens Doors For Local Entrepreneurs

Small-scale retail will be at the heart of this South End project.

Centro RailYard’s plans will offer nearly 13,000 square feet dedicated to retailers — though over 50% will have a footprint of approximately 400 square feet, says Aaron Ligon, partner at Charlotte real estate firm Ascent Real Estate Capital. 

The largest unit will top out at 1,500 square feet. All units will have shared common areas, including bathrooms and hallways. By comparison, the smallest footprint of most traditional retail space starts at 1,200 square feet, Ligon says.

“We think the retail is innovative. It’s going to really open the door up for entrepreneurs to open retail space in South End,” he adds.

The first of those retailers is expected to open in the second quarter of next year.

Ascent and developer David Furman’s Centro Cityworks are behind that mixed-use project, which also will have 91 micro-unit apartments. 

Smaller retail footprints provide an attractive alternative amid rapidly escalating lease rates, Ligon says. Centro RailYard provides a best-in-class location that’s highly walkable and provides an opportunity for retailers to take a chance on brick-and-mortar storefronts with lower risks.

“I think it’s the opportunity to open that business they always wanted to open,” Ligon says. “Let’s empower Charlotte’s local retail community to open great concepts.”

Spaces will be delivered code compliant and ready for furniture, fixtures, and equipment. All feature roll-up garage doors. That will allow retailers to open on a compressed timeframe — even as short as 30 days — and with minimal investment, Ligon says.

“We as a developer and landlord can afford to take a risk and get a variety of curated tenants in there,” he adds. “We want to focus on retail and soft goods — spaces that are very shoppable.”

In total, there are 15 available spaces.

Conversations with retailers are ongoing and several letters of intent have been signed. The first tenant to sign on to the project is Glory Days Apparel.

Founder J.D. Harris says the project provides a chance to test a brick-and-mortar location — without breaking the bank. 

“The square footage was much more in line with what we wanted to do,” Harris says. “It empowers us. It gives us an opportunity we otherwise wouldn’t have had. This is a new challenge for us.

He launched the lifestyle-clothing brand online in 2016, after leaving behind a traditional, nine-to-five job.

https://www.bizjournals.com/charlotte/news/2019/12/13/inside-plans-for-micro-retail-as-part-of-this.html