This article was originally published by Charlotte Business Journal on September 7, 2017.
Justin Holofchak with MPV Properties represented the seller in this land transaction.
Daycare, commercial buildings planned for tract near RiverGate
A joint venture between LCRE Capital and Queen City Enterprises recently closed on a tract of land near RiverGate in Steele Creek, with plans to develop a daycare and commercial buildings.
SCBP Developer LLC acquired the 8.7-acre parcel and two existing buildings near the intersection of Steele Creek Road and South Tryon Street for $1.7 million in a deal that closed earlier this summer. The Children’s Academy will anchor the new development, totaling about 35,000 square feet, with a 16,000-square-foot daycare facility, to be called Steele Creek Children’s Academy.
Karen Ott, owner of Steele Creek Children’s Academy, said in a statement that the “upscale” preschool will serve children ages 6 weeks to 12 years old. The new facility will be an expansion of an existing facility in Tega Cay.
The site plan calls for three additional buildings with office and medical office space. LCRE Capital has filed for permits and is expected to begin construction on those buildings in the fall. The site will include build-to-suit opportunities and building pads for sale, according to LCRE.
Justin Holofchak at MPV Properties represented the seller in the land transaction. David Willingham at BNC Bank arranged construction financing for the daycare. Aaron Ligon and Heath Knott at LCRE Partners will handle sales, leasing and marketing at the development.