Solis Sharon Square apartments 70 percent leased

Terwilliger Pappas‘ newest apartment development  – Solis Sharon Square – is about 70 percent leased, developer Peter Pappas told me on a recent tour of the property.

The upscale mixed-use development has also leased about half of its retail space, with restaurant Dogwood Southern Table open and Corkbuzz and Rusty Bucket to follow by June. The development also includes Charlotte’s first Whole Foods and SunTrust’s regional headquarters.

Solis Sharon Square is the first Solis development in Charlotte. Terwilliger Pappas is building a second Solis Dilworth and a third Solis Waverly in southeast Charlotte, and just got rezoning approval for a fourth Solis in Ballantyne. The company is also building Solis developments throughout the Southeast, including in Raleigh, Durham and Atlanta.

Solis Sharon Square has leased 167 out of 239 units. Pappas said two-bedrooms have been especially strong. The Latham building is fully leased, and the Graham building is still leasing as workers finish the final common spaces.

“It’s good, very good,” said Pappas. A 1-bedroom starts at $1,615 a month, while a 2-bedroom starts at $1,985.

Wealth management firm signs lease for Sharon Square offices

by Ely Portillo

A wealth management firm has signed a lease for part of the fifth floor of the SunTrust office building at Sharon Square in SouthPark, Pappas Properties and Allen Tate Company said.

Second Half Strategies will take 2,888 square feet of the office building, part of a mixed-use development that includes a Whole Foods, apartments and restaurants.

“We are pleased to bring Second Half Strategies to the SunTrust Building at Sharon Square,” said Peter Pappas, CEO and founder of Pappas Properties, in a statement. “Second Half Strategies has a strong reputation consistent with the caliber of tenants we are targeting.”

Charley Leavitt and Stephen Woodward of JLL marketed the property, while Patrick McCoy of Newmark represented Second Half Strategies.

The upscale Solis apartments at Sharon Square are more than 90 percent leased, Pappas said.

Hotel headed to Berewick development in Steele Creek

by Ely Portillo

Pappas Properties said Friday that a 135-room hotel is planned for Berewick Town Center in Steele Creek.

The hotel will be a Hampton Inn & Suites. Steele Creek Partnership LLC, a company affiliated with Nalinbhai Patel of Huntersville, paid $1 million for a 2.4-acre site in a deal that closed Thursday.

In a separate deal, Carolina Restaurant Group said it plans to open a Wendy’s restaurant on a 1-acre parcel at Berewick Town Center.

The town center, located at Shopton Road West and Steele Creek Road, is under construction in two phases. A Harris Teeter broke ground in late 2014 and is expected to open this spring. It’s part of the 1,200-acre Berewick subdivision.

“The new Hampton Inn & Suites, Wendy’s, Walgreens and Harris Teeter are part of a very exciting story developing at the Berewick Town Center,” said Peter Pappas, CEO and founder of Pappas Properties, in a statement. Pappas is developing Berewick. “Each of these will be a great amenity enjoyed by residents of Berewick, neighbors and the many people coming to this area.”

roker William Latta represented Steele Creek Limited Partnership in acquiring the hotel site. Bob Vande Weghe of Evergreen Commercial Properties represented Carolina Restaurant Group in the Wendy’s site transaction. On the sales side, Brian Roth of Pappas Properties marketed both properties.