Charlotte, NC (July, 2019) – MPV Properties (MPV) has purchased the former Kmart in Concord, NC, a 175,000 SF building situated on the Southwest quadrant of Poplar Tent Road and Concord Parkway North (U.S. Highway 601 and 29). The site, totaling 25.669 acres, includes 1,095 parking spaces (6.4 spaces/1,000 sf) and one (1) undeveloped outparcel fronting Highway 29. MPV intends to redevelop and operate the Property as a multi-tenant income producing investment asset. Sears Outlet Stores, a current tenant, will remain in the building and currently occupies approximately 30,000 SF. MPV intends to re-tenant the remaining space in the building with other entertainment and retail uses, however no new tenants are being announced at this time.
Stephen Pharr with MPV Properties, LLC and Dawn Prince Hoover with The Shopping Center Group are co-marketing the Property. Construction is slated to begin in August.
Cover photo: 545 Concord Parkway N, Concord, NC 28027; Above: Planned redevelopment at former Kmart in Concord, NC
About The Shopping Center Group
Since 1984, our retail-only real estate platform has provided a full assortment of advisory services to tenants, landlords, developers, investors and financial institutions throughout our territory. Our work on their behalf is dedicated to the validation of those descriptions. With 20 offices from New York to Southern California, we are the largest firm in our field in the United States. Visit theshoppingcentergroup.com for more.
About MPV Properties
MPV Properties is one of the Charlotte area’s leading commercial real estate firms offering office, industrial, retail and land brokerage, development, and association and property management services. For more information, visit mpvre.com.