Charlotte shopping center anchored by Trader Joe’s and Best Buy up for sale again
Pitched as being in one of Charlotte’s “most affluent and dense neighborhoods,” the high-profile Charlotte mixed-use Metropolitan Avenue development with tenants like Trader Joe’s and Dressler’s Midtown is for sale again.
Just six years ago, Northwood Investors, a Colorado-based real estate private equity firm, purchased the Metropolitan Avenue complex for $92 million.
The 342,805-square-foot retail and office space at 1111, 1100, 1133, and 1055 Metropolitan Ave. is near the Eastover, Elizabeth, Myers Park and Dilworth neighborhoods, according to CBRE real estate firm’s listing this week. No price is listed for the sale.
It’s the only large-format, multi-anchor center within a 10-mile radius, according to CBRE, “with no realistic path for competitive big box supply to emerge in this trade area.” The advertisement pitches it as an opportunity for investors to further “cement long-term dominance in Midtown.”
The complex underwent renovations from 2021 to last year, and is over 80% occupied, according to the listing.
Northwood does not discuss potential, under consideration or existing transactions, company General Counsel Nate Hagerman said in a statement to The Charlotte Observer on Friday. CBRE officials did not immediately respond to requests for comment Friday.
Charlotte Business Journal first reported the sale.
About the Metropolitan complex in Charlotte
Built in 2008 and renovated last year, the center features over 170,000 square feet of retail anchored by Trader Joe’s, Marshalls and Best Buy, as well as restaurants and other local businesses like Lost World’s Brewing.
The complex is one of the city’s most well-known mixed-use developments. It also has 170,589 square feet of offices and a parking deck with 1,110 parking spaces.
Northwood is also the firm behind the $1.5 billion revamp of The Ballantyne at the Bowl in south Charlotte.
This story was originally published June 15, 2026 at 5:06 AM with the headline "Charlotte shopping center anchored by Trader Joe’s and Best Buy up for sale again."
