Cushman & Wakefield announced that the commercial real estate services firm has arranged the sale of 1700 Place, a 214-unit apartment community located in Charlotte, North Carolina. Brooks Colquitt, Jordan McCarley and Marc Robinson of Cushman & Wakefield represented the seller, White Eagle Property Group, in the transaction.
“We enjoyed improving this asset over our hold period and are excited for the buyer to continue this effort in a submarket primed for rent growth,” said Abe Spitz, CEO of White Eagle Property Group.
Units at 1700 Place feature private balconies/patios, recently remodeled interiors, large walk-in closets, and wood-burning fireplaces. Amenities include a bark park and a newly renovated clubhouse offering a fitness center and business center.
“The Monroe road corridor is projected to be the next gentrification project in Charlotte,” Colquitt said. “Located off East Independence along the path of eastward growth, 1700 Place is surrounded by development and the booming submarkets of Matthews, Uptown, Plaza Midwood, and Chantilly.”
“Working with Cushman & Wakefield on this transaction was a seamless process, and we look forward to working together in the future,” said Jeff Weiskopf, Managing Partner of White Eagle Property Group.
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group ranks No. 1 in Sunbelt market share based on over 250 transactions and $6.2 billion in multifamily and land investment sales in 2020 (Source: Real Capital Analytics). Market share reflects number of sales for Alabama, Arkansas, Northwest Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas.