CBRE Facilitates $31.5M Sale of Historic Bowers Mixed-Use Project in Charlotte’s South End
CHARLOTTE, N.C. — CBRE has facilitated the sale of Bowers, a mixed-use development in Charlotte’s South End, to RMR Office Property Fund LP for $31.5 million. Patrick Gildea, Matt Smith and Grayson Hawkins of CBRE represented the seller, White Point Partners, a private real estate investment firm based in Charlotte. Located at 4001 Yancey Road, Bowers is a 73,560-square-foot office and retail property consisting of three 1940s and 1950s buildings. It was the former site of Bowers Fibers, a fiber by-product manufacturer. The development houses a collection of restaurants and office space and is located near Interstate 77. After a complete redevelopment completed in 2018, Bowers is now 100 percent occupied by tenants including Artisanal Brewing Ventures, Chef Alyssa’s Kitchen, SentryOne and Investor Management Services.