Huntersville Office Park Off Interstate 77 to Undergo Renovations After $26M Purchase

The office park neighboring Birkdale Village has been acquired by a real estate investment firm based in Charlotte.

Redline Property Partners purchased NorthPointe Executive Business Park in Huntersville this week for $26 million, according to Mecklenburg County real estate records. The acquisition includes four office buildings totaling 201,310 square feet and vacant land for future development, the buyer announced.

Redline, which partnered with Ascent Real Estate Capital to buy the property from an entity affiliated with AEW Capital Management, will renovate and rebrand the park.

The nearly 34-acre office park is just off Exit 25 of Interstate 77.

“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.”

Redline will manage the property and CBRE's Joe Franco, Kris Westmoreland, and Emily Hill are leading leasing efforts there on behalf of the new ownership.

Specifics regarding the park's rebrand have not yet been formally announced. However, renovations of the existing buildings will include upgrades to the exteriors, lobbies, common areas, and restrooms, among other improvements.

“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.”

https://www.bizjournals.com/charlotte/news/2023/04/12/redline-property-partners-northpointe-huntersville.html