News

Chicago investment firm on track to add even more life to historic rail station on the Southside

Northpond Partners recently announced it has acquired Packard Place in Charlotte, North Carolina. The mixed-use building totals 95,128 square feet and is centrally located at 222 South Church Street in downtown Charlotte, which is home to retail and office tenants including Ink N Ivy, Not Just Coffee, Arts &  Science Council, and Insight Enterprises.

The Gateway Plaza project will be Northpond’s 12th investment in the Triangle. Most recently, the company repositioned and sold the historic Creamery property in downtown Raleigh. New York-based Turnbridge Equities paid $34.7 million for the property in late March.

New York City-based Turnbridge Equities paid $34.7 million for the nearly-century-old Creamery building and two adjacent parcels in downtown Raleigh’s Glenwood South neighborhood earlier this week. The seller was Chicago-based Northpond Partners.

Chicago-based Northpond Partners last week acquired the two-story building, which serves as a home to several retailers, for $7.5 million

Northpond Partners, the Chicago real estate firm that bought Uptown’s Calhoun Square last fall, is considering a significant renovation that would slice the high-profile property in half and create an open-air pedestrian walkway through its midsection.

“We are super cognizant and understand that Calhoun Square has not been working,” Ankin said, in an interview Thursday morning. “We really believe that’s not because of the location or the neighborhood. That’s because of the mix of the building and the wrong tenants.”

WakeMed announced Tuesday that it would be redeveloping the mid-century building at 505 Oberlin Road into a medical office building.

St. Louis Park, Minnesota-based Paster Properties has partnered with Chicago-based Northpond Partners to acquire The Broadway in Northeast Minneapolis and Icehouse Plaza in South Minneapolis. The purchase closed Dec. 19.