The Property is located in the urban infill “Center City” of Charlotte, referred to locally as Uptown, this area encompasses the approximately 2.25 square miles inside of I-277 and is synonymous with the CBD or Downtown areas of other cities. The EpiCentre holds the distinction as the largest concentration of dining and entertainment and the only transit oriented mixed use entertainment development in Uptown Charlotte. It is located one block south of Tryon & Trade Street, Charlotte’s “main & main”. The EpiCentre is only a short walk from Charlotte’s largest office buildings, including Bank of America’s headquarters directly across College St., and is a convenient destination for business meetings and entertainment. The EpiCentre is Uptown Charlotte’s most popular and convenient dining and entertainment destination. With its subterranean structured parking garage, high end dining establishments, adjoining aLoft hotel , exclusive entertainment offerings, and exclusive 24 hour valet lane. The EpiCentre is designed to meet the needs of those doing business, traveling or living in Charlotte.
The EpiCentre loan was acquired by Vision Ventures and their investment partners in 2010 after instability of prior ownership forced the project into bankruptcy. Fee simple title was acquired in June of 2012. In addition to the original project costs, over the past three years new ownership has invested an additional $23mm in the project including complete updating and modernization of the common areas, partial roof replacement, installation of directional and identification signage, addition of concierge and valet cube/lounge, state-of-the-art security camera system with 188 cameras, landscaping, heating system, and implementation of a comprehensive tenant and 3rd party marketing signage package. Another significant part of the renovation was the parking garage.
In addition to the capital improvements, Vision executed a strategic leasing plan to renew successful existing tenants on long term leases and replace ineffective ones. Because of the EpiCentre’s exclusive location it has been able to attract top tenants looking to secure prime locations in Charlotte’s thriving Uptown area. Studio Movie Grill selected the EpiCentre as its first and only Charlotte location, Gold’s Gym Elite selected EpiCentre as its only urban Charlotte location and Strike City is Uptown Charlotte’s only venue with bowling lanes. Also, when successful European based restaurant La Tagliatella decided to expand they chose The EpiCentre as their first location in North Carolina.
In May 2014, Los Angeles-based real estate firm CIM Group purchased the EpiCentre complex in uptown Charlotte from Vision Ventures and its investment partners.