Ram Realty Advisors Completes Sale of Three30Five Commercial in Charlotte’s South End
(Charlotte, NC – July 8, 2021) – Ram Realty Advisors is pleased to announce the sale of Three30Five Commercial to Asana Partners. The 59,000 SF commercial development features a mix of office and retail in Charlotte’s highly desired South End Neighborhood. Delivered in June 2020, the property’s office component is leased to Arrival Automotive for its North American Headquarters, with a portion of the remaining space leased to Spenga and the forthcoming Benny Ferrovia’s – a pizza restaurant that is bringing its second offering to the Charlotte market.
“This once-vacant parcel offered Ram the opportunity to create a mixed-use development in one the Southeast’s most dynamic submarkets,” said Ashley Saulpaugh, Director of Investments. “Three30Five Commercial was conceived and designed to offer authentic retail, restaurant, and office space along the energetic Tremont corridor. Its convenient access on South Tryon and walkable appeal to numerous neighborhood residents and office workers made it a desirable addition to South End.”
Three30Five is comprised of two buildings on a 2.4-acre site in walking distance to the Design District and in close proximity to the Lynx Blue Line East/West station, making it well-positioned to benefit from the over 2M SF of office space in the pipeline over the coming years.
“Asana Partners is excited to add Three30 Five Commercial to our growing portfolio of mixed-use assets in Charlotte,” said Matt Muse, Director of Investments with Asana Partners. “We continue to believe South End is one of the most compelling neighborhoods in the Southeast for office and retail investments. Our firm plans to add complementary uses to Three30 Five which is perfectly positioned to capture retail and restaurant demand flooding the submarket.”
Ram has invested or committed to invest in excess of $500 million in the South End. According to the Charlotte Business Journal, Ram is one of the most active real estate developers and investors in the region. With an office in South End, Ram has a history of developing thoughtful projects in the Charlotte neighborhood, just announcing the closing of its seventh investment. The Company most recently developed or acquired Hawk, Hub South End, Lowe’s Global Technology Center (in joint venture with Childress Klein), and Three30Five Apartments. Additional projects are already in the planning stages, further demonstrating Ram is a committed part of South End’s present -- and future.
Ram Realty Advisors LLC acquires and develops retail, multifamily, and mixed-use properties in select high-growth markets throughout the Southeast. The investments are capitalized by Ram-sponsored discretionary private equity funds and institutional co-investment vehicles. Since 1996, Ram has deployed in excess of $3.2 billion of capital. Ram and its predecessor entities were founded in 1978. The company is headquartered in Palm Beach Gardens, Florida, and has offices in Tampa, and Charlotte and Chapel Hill, North Carolina. www.ramrealestate.com
ABOUT ASANA PARTNERS
Asana Partners is a real estate company investing in high-growth markets across the United States. Leveraging its differentiated capabilities in mixed-use and retail real estate value creation, the Company capitalizes on opportunities to create authentic experiences in compelling locations around the country. For more information, visit www.asanapartners.com.
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