{"id":1004199481,"date":"2017-12-08T05:24:18","date_gmt":"2017-12-08T13:24:18","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004199481"},"modified":"2022-12-08T19:51:33","modified_gmt":"2022-12-09T03:51:33","slug":"red-hill-ventures-to-enliven-charlotte-landmark","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/red-hill-ventures-to-enliven-charlotte-landmark\/","title":{"rendered":"Red Hill Ventures to Enliven Charlotte Landmark"},"content":{"rendered":"<p>By Laura Calugar<\/p>\n<div id=\"attachment_1004199482\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/easttownmarket_Rendering2.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004199482\" data-attachment-id=\"1004199482\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/red-hill-ventures-to-enliven-charlotte-landmark\/easttownmarket-rendering2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/easttownmarket_Rendering2.jpg\" data-orig-size=\"850,636\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Red Hill Ventures&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;The revitalization of East Town Market is underway. This open-air shopping center and office suite complex is located in the heart of the vibrant East Charlotte community. (PRNewsfoto\/Red Hill Ventures)&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;This image must be used within the context of the news release it accompanied. Request permission from issuer for other uses.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;easttownmarket-Rendering2&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"easttownmarket-Rendering2\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The revitalization of East Town Market is underway. This open-air shopping center and office suite complex is located in the heart of the vibrant East Charlotte community. (PRNewsfoto\/Red Hill Ventures)&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/easttownmarket_Rendering2.jpg?w=850\" class=\"wp-image-1004199482 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/easttownmarket_Rendering2.jpg\" alt=\"Rendering of the East Town Market in Charlotte, N.C.  \" width=\"300\" height=\"224\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/easttownmarket_Rendering2.jpg 850w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/easttownmarket_Rendering2.jpg?resize=300,224 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/easttownmarket_Rendering2.jpg?resize=768,575 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004199482\" class=\"wp-caption-text\">Rendering of the East Town Market in Charlotte, N.C.<\/p><\/div>\n<p>Red Hill Ventures intends to breathe new life into East Town Market, one of East Charlotte&#8217;s landmark commercial properties. The company acquired the 182,362-square-foot asset back in September from Sterling Global, for $13 million. Anchored by Compare Foods and Parkway House Restaurant, the open-air retail and office complex will be rejuvenated and transformed into the hub it used to be for more than three decades. \u00a0\u00a0\u00a0<\/p>\n<p>Located at the junction of North Sharon Amity Road and E. W.T. Harris Boulevard, the property includes 142,212 square feet of ground-level retail space and 40,150 square feet of office space.<\/p>\n<p><em>\u201cThis area of East Charlotte is very dynamic, with a diverse mix of cultures and residents, but overall lacking in traditional shops, dining and everyday services. Our hope is that East Town Market will fill that void. We generally seek properties with what we see as untapped potential because they&#8217;ve been neglected over some time\u2014whether under-managed, under-capitalized, or both,&#8221; <\/em>said Red Hill Ventures CEO Todd Collins, in prepared remarks.<\/p>\n<h2>Contemporary finishes<\/h2>\n<p>Plans to rejuvenate the property include extensive renovations to both the shopping center and the office space. Capital improvements are already underway, with the execution of updates to the center&#8217;s exterior facade, architectural details and office suite complex. The 1980&#8217;s-era exterior is getting new paint, signage, landscaping and outside lighting. The parking lot will be repaved, awnings are being added, with special attention paid to the structure&#8217;s support columns and steel dome.<\/p>\n<p>Additional amenities will include an on-site management office, shared conference room and kitchenette, full-service lease agreements and dedicated parking separate from the retail parking areas. The new owner also intends to strengthen the overall tenant mix.<\/p>\n<p>Red Hill&#8217;s portfolio includes a mix of both residential and commercial restorations, but the East Town project is the firm\u2019s first commercial venture in Charlotte. Other investors have also been attracted to this market. TriBridge Residential started a $53 million <a href=\"https:\/\/www.commercialsearch.com\/news\/tscg-brings-charlotte-retail-center-to-full-occupancy\/\">adaptive reuse project<\/a> in the Plaza Midwood neighborhood.<\/p>\n<p><em>Image courtesy of Red Hill Ventures <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company acquired the property back in September from Sterling Global. The asset encompasses 142,212 square feet of ground-level retail and 40,150 square feet of office space.<\/p>\n","protected":false},"author":238,"featured_media":1004199482,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1582,21782,21783,21752,21742,32781],"tags":[38517,33924],"class_list":["post-1004199481","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-charlotte","category-development","category-investment","category-mixed-use","category-latest","category-southeast","tag-red-hill-ventures","tag-tribridge-residential"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Red Hill Ventures to Enliven Charlotte Landmark - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/red-hill-ventures-to-enliven-charlotte-landmark\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Red Hill Ventures to Enliven Charlotte Landmark\" \/>\n<meta property=\"og:description\" content=\"The company acquired the property back in September from Sterling Global. The asset encompasses 142,212 square feet of ground-level retail and 40,150 square feet of office space.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/red-hill-ventures-to-enliven-charlotte-landmark\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-12-08T13:24:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T03:51:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/easttownmarket_Rendering2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"850\" \/>\n\t<meta property=\"og:image:height\" content=\"636\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Laura Valean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/red-hill-ventures-to-enliven-charlotte-landmark\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/red-hill-ventures-to-enliven-charlotte-landmark\\\/\"},\"author\":{\"name\":\"Laura Valean\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/2f8b737fce677cc406c08a2c29c1ff38\"},\"headline\":\"Red Hill Ventures to Enliven Charlotte Landmark\",\"datePublished\":\"2017-12-08T13:24:18+00:00\",\"dateModified\":\"2022-12-09T03:51:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/red-hill-ventures-to-enliven-charlotte-landmark\\\/\"},\"wordCount\":360,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/red-hill-ventures-to-enliven-charlotte-landmark\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/12\\\/easttownmarket_Rendering2.jpg\",\"keywords\":[\"Red Hill Ventures\",\"TriBridge Residential\"],\"articleSection\":[\"Charlotte\",\"Development\",\"Investment\",\"Mixed Use\",\"News\",\"Southeast\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/red-hill-ventures-to-enliven-charlotte-landmark\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/red-hill-ventures-to-enliven-charlotte-landmark\\\/\",\"name\":\"Red Hill Ventures to Enliven Charlotte Landmark - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/red-hill-ventures-to-enliven-charlotte-landmark\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/red-hill-ventures-to-enliven-charlotte-landmark\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/12\\\/easttownmarket_Rendering2.jpg\",\"datePublished\":\"2017-12-08T13:24:18+00:00\",\"dateModified\":\"2022-12-09T03:51:33+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/2f8b737fce677cc406c08a2c29c1ff38\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/red-hill-ventures-to-enliven-charlotte-landmark\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/red-hill-ventures-to-enliven-charlotte-landmark\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/red-hill-ventures-to-enliven-charlotte-landmark\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/12\\\/easttownmarket_Rendering2.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/12\\\/easttownmarket_Rendering2.jpg\",\"width\":850,\"height\":636,\"caption\":\"The revitalization of East Town Market is underway. 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