Residents and patrons are going to be pleased soon when Cotswold Village undergoes a renovation. This hub of shopping and services is located at the intersection of Randolph Road and Sharon Amity Road in the heart of Cotswold on the east side of Charlotte and services the nearby neighborhoods of Myers Park, Sedgewood, Providence Park, Foxcroft, and is just minutes away from SouthPark.
Asana Partners just completed the purchase of the 21.7-acre shopping center from Site Centers Corp. Site Centers Corp. is a real estate investment trust that purchased the shopping center in 2011 for $37 million. This most recent sale closed at $110.4 million. This is a part of the ongoing growth strategy for Asana Partners, per the Charlotte Business Journal.
To facilitate that growth, Asana Partners has promised to renovate. The plan they have laid out includes improvement to outdoor gathering areas and updates to the building facades. In addition, there will be some new shops to fill the few vacancies.
The anchor of Cotswold Village is a 260,000 square foot Harris Teeter grocery store. In addition there are over 30 other retailers that include something for everyone. From cookies to yoga to beauty and fashion, you’ll find what you need at Cotswold Village.
There are many national chains represented in the shopping center, from ULTA Beauty to World Market. In addition Walgreens Pharmacy is at the opposite end from Harris Teeter. Tuesday Morning, Dollar Tree, Hand & Stone Spa, Sally Beauty, Bath and Body Works, and The Children’s Place are all great choices for shopping or pampering yourself. For food and supplements, check out Five Guys, TGI Friday’s, Wendy’s, Arby’s, Smash Burger, Wolfman Pizza, and GNC. Newly added are The Max Challenge, and coming soon are Capital Tacos, Crumbl Cookies, Kidstrong, and Rumble.
Cotswold Village serves a residential population of more than 250,000 people, and a daytime population of over 100,000 people. There is a total of 419,935 square feet of space with a mix of tenants between national retailers, restaurants, and service tenants. There are many local businesses among the tenants. Occupancy rate is currently at 97.5% and with the new businesses opening, should hit the coveted 100% mark.
With additional gathering space, expect to see community events staged. With 21 acres in the development, there is plenty of parking. If you live in the surrounding communities, you might not even need to worry about parking. This whole area is very walkable with sidewalks and crosswalks, though the lights can take a while to change. Across the street, there is a Publix Market, and a little bit further away is Cotswold Elementary School.
To see some examples of other projects done by Asana Partners, check out The Design Center of the Carolinas in South End. This project also includes ground-floor retail, Whole Foods and the Ally Building in Uptown. In addition, they have properties in Plaza Midwood, NoDa, and Uptown. They are also working on the historic Grinnell Water Works building on West Morehead Street in Uptown. This project is an exciting addition to their portfolio and we can’t wait to see how they revitalize the area.
