This article was written by Elise Franco and published by Charlotte Business Journal on June 10, 2024. To read the full article visit:
Pappas Properties’ sprawling mixed-use development in southwest Charlotte is nearing the finish line.
Berewick Town Center has landed 28,500 square feet in new development that includes retail and medical office tenants.
Taylor Capital, a Southeast-based developer of health-care facilities, will break ground next month on an 8,500-square-foot medical office building at Brodie Lane and Rachel Freeman Way. Novant Health Primary Care will lease the entire building. Shel Robinson, Pappas Properties development associate, said construction is expected to take six to nine months.
Taylor Capital is also developing a 5,000-square-foot office building on Rachel Freeman Way. Robinson said a tenant for that space has not been announced.
Flagship Healthcare Properties represented Taylor Capital in both deals.
Charlotte-based MPV Properties is in the process of purchasing 15,000 square feet at Berewick Town Center and Gannon drives for medical and retail development. The real estate company is planning two 7,500-square-foot buildings with a patio in between to create an outdoor plaza and public gathering area.
MPV is expected to close on the site in the third quarter of the year, according to a news release from Pappas Properties.
Robinson told CBJ the firm began planning the mixed-use project nearly 25 years ago as part of the 1,100-acre Berewick neighborhood. The 92-acre property is now down to its last acre of undeveloped land, Robinson said. The parcel located on Berewick Town Center Drive is available for sale, a ground lease or a build-to-suit project. Pappas Properties has listed it for $1.25 million.
“This is significant to our company because Peter (Pappas) began planning Berewick in 2000 as part of a master development,” he said. “We’re down to our last acre, which will conclude an almost 25-year project that has been in the works for a long time.”
Berewick Town Center currently has 78,000 square feet of retail space, 773 apartments, a 130-room hotel and 16,000 square feet of medical office space. It’s located at 4820 Berewick Town Center Drive.
