The historic Latta Arcade building on South Tryon Street in uptown Charlotte is under new ownership.
Chicago-based Northpond Partners last week acquired the two-story building, which serves as a home to several retailers, for $7.5 million, according to Mecklenburg County real estate records. Northpond purchased Latta Arcade from Northwood Retail, which acquired the property in 2011 for $2.7 million.
Alistair Parry, senior vice president of investments at Northpond, said the firm had been watching the Latta Arcade property for the past 12 months and, once it was listed, began talks with Northwood Retail. The building includes more than a dozen retail tenants and is listed on the National Register of Historic Places.
Much of the company’s portfolio includes historic buildings like Latta Arcade, which was built in 1914. Northpond also owns The Creamery in Raleigh, a 1920s-era former dairy plant, and Grove Arcade in Asheville, also built in the ’20s.
You can read more about the acquisition here