The below article was published on October 17, 2024 here: https://www.bizjournals.com/charlotte/news/2024/10/17/crosland-southeast-mpv-properties-kannapolis-land.html
This sale represents the final 10-acre portion of a larger 230-acre tract at the corner of Highway 73 and Kannapolis Parkway. The site will become a convenience store. Other developments on the entire site include the 85-Exchange Industrial Park by Trinity Capital and Creek Mill apartment community by Charter Properties.
An entity affiliated with a notable Charlotte developer recently acquired land along N.C. Highway 73 in Kannapolis.
In late September, C4-AR 7-Eleven LLC bought 10 acres at 6551 Davidson Highway for nearly $1.9 million, according to Mecklenburg County real estate records. The buyer’s entity is registered to Peter B. Pappas and Tim Sittema, the managing partners of Crosland Southeast. The site was sold by Highway 73 Parkway LLC, which records show is affiliated with Charlotte-based MPV Properties.
Crosland’s plans for the site are unclear at this time. Multiple attempts to reach Crosland Southeast for more information on its plans there were unsuccessful before deadline.
The site neighbors a significant industrial development led by Trinity Capital Advisors. Trinity is partnering with Barings to develop 85 Exchange, which spans over 150 acres at Davidson Highway and Kannapolis Parkway.
85 Exchange is expected to include over 1.3 million square feet of industrial building space upon completion. In May, the Charlotte Business Journal reported that Amazon.com Inc. (NASDAQ: AMZN) leased a building of about 198,400 square feet at 85 Exchange’s first phase.
Crosland has several projects in its pipeline in the Charlotte market.
The group is the master developer of Eastland Yards, the redevelopment of the former Eastland Mall site that broke ground in 2022. Charlotte Douglas International Airport is also in exclusive negotiations with Crosland to develop Destination District Central. That site is at the airport’s entrance. It is expected to include a mix of retail and hospitality uses, assuming an agreement is finalized.