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Photo Credit: Charlotte Aerial Photography – UNC Charlotte by James Willamor, licensed under CC BY-SA 2.0 color corrected and cropped
Build Your Business in the Innovative Neighborhood of University City, Charlotte in North Carolina
The University of North Carolina at Charlotte (UNCC) is the center point of the University City neighborhood. Although the university actually has three campuses, the one located here in Charlotte is the main campus. It sits on almost 1000 acres and contains more than 7 million square feet of facilities. Today, UNCC has 24 doctrinal programs and over 24,000 undergraduate students.
The area’s unique location offers close proximity to I-85, West W.T. Harris Boulevard, and East W.T. Harris Boulevard. The North Carolina Highway 24 ring road is another big method of transportation around the University City. Around the perimeter, the I-485 ring road also allows residents to quickly make their way around the outskirts of the city of Charlotte.
Innovation Park is one of the bigger developments in this neighborhood. Innovation Park is an innovative corporate campus that used to be home to IBM. This 200-acre campus is home to a number of major tenants including AXA US, Classic Graphics, TTI Floor Care North American Headquarters, Areva, and others. With 1.76 million rentable square feet, it contains a range of spaces, including office, multi-family, apartments, parking garages, and retail.
A lot of smaller, suburban office opportunities in this community also run along the W.T. Harris Boulevard.
Although industrial and flex space aren’t especially popular in this area, the offices and retail spaces throughout the city make this location an attractive place for businesses and for residential living.
The University City Neighborhood of Charlotte, NC
University City is a major employment center of Charlotte, largely due to the presence of UNC Charlotte. It’s a vibrant community filled with top talent, well-planned work spaces, direct transportation, and easy access to Charlotte. The LYNX Blue Line light rail station on University City Boulevard also makes it easy for residents to travel in and out of the city.
The University City community is a fast-growing area with a diverse community and a variety of businesses and startups. Blending innovative ideas, future development, and strong education options, the University City propels the future of work in the metro Charlotte area.
With a unique mix of living opportunities, a variety of neighborhood retail, and many nearby attractions, this area close to the Queen City provides an excellent place for both young professionals and families alike. Popular attractions in the nearby cities and neighborhoods include the Charlotte Motor Speedway, the Concord Mills Mall, PNC Music Pavilion, the Jerry Richardson Stadium, and others.
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Investment Opportunities in University City, Charlotte
The investment opportunities in University City largely center around the UNC Charlotte. These include multi-family buildings, apartments, and student housing. In addition, there is also commercial office space (including medical offices) and retail continuing to be developed in the area.
The futuristic and innovative thinking within University City makes this area an excellent option for startups and business growth. If you’re looking for a location where you can achieve your strategic objectives right in metro Charlotte, this neighborhood just might be the ideal place.
At Regent Commercial Real Estate, we’ve closed nearly 1000 sales and lease transactions in the greater Charlotte area and understand the landscape of the Charlotte neighborhoods. Whatever your business goals, tap into our many years of experience and network of resources to find your next metro Charlotte commercial property.
Office Space in the Charlotte University City Neighborhood
There are a number of office spaces available in the University City area. With the large student body of UNCC and the hundreds of young professionals that continue to make their home in this area, it provides ample opportunity for a variety of office options. Office options here include offices near campus, office parks (including University Executive Park, University East Professional Center, and Innovation Park), and suburban offices. Many of the latter run along the W.T. Harris Boulevard.
Both traditional and medical offices are available in this neighborhood.
Most office space options in this locale fall into Class A or Class B. The average rate for leasing office space around the University area is $27/sf/yr.
Industrial Space in the Charlotte University City Neighborhood
Since University City is much more suited to the office sector, there’s not a lot of industrial property in this area. Of the few options that do exist here, most tend to lean on the flex side of industrial rather than space that’s used for warehousing or heavy manufacturing.
Pricing for these properties averages around $21/sf/yr for properties for lease and $195/sf for properties for sale. The convenient access to I-85 does make it an opportune location for businesses when property can be found.
Warehouse Space in the Charlotte University City Neighborhood
You won’t find many warehouse buildings in the University City area. The presence of UNCC and the many office buildings makes this more of a white-collar work area than a blue-collar area.
There are a few flex-type properties that have some warehouse space included, though. Most are smaller buildings. Currently, these lease for an average of $15/sf/yr.
Flex Space in the Charlotte University City Neighborhood
Although it isn’t the most popular Charlotte neighborhood for flex space, there are still a variety of flex listings available here in the University City neighborhood. These range from older buildings with small warehouses attached to small co-working spaces to newer, sprawling flex office parks.
The diversity of options along with the close proximity to the I-85 corridor and the I-485 loop often makes this neighborhood a good place to find more office-oriented flex spaces.
The average lease rate for these properties is around $20/sf/yr.
Retail Space in the Charlotte University City Neighborhood
There are a number of retail listings available in the University area. Because of the campus feel and the number of corporate companies who make their home in this area, the majority of the retail is neighborhood-based stores catering to the local population. A lot of this is grocery-anchored retail, but there are also some bigger box stores and wholesale distribution retailers like Sam’s Club and Ikea. There are a number of restaurants in the area as well. While there are no malls, the variety of smaller retailers do a great job of taking care of the retail needs of the community.
North Tryon is a popular street for retail in this neighborhood. The rental properties here average around $21/sf/yr and range in size from about 1,000-7,000 square feet. Some of the properties for sale are a bit larger, and the average cost of these options is around $235/sf.
Industrial Outdoor Storage (IOS) Space in the Charlotte University City Neighborhood
Although it does offer easy access to the interstate – a great benefit for IOS users – the more packed landscape of University City simply doesn’t have the amount of land available that industrial outdoor storage space typically takes.
IOS space generally consists of a smaller building on at least an acre of land. It’s used by a lot of blue-collar companies such as building supply houses, last-mile logistics facilities, equipment rental companies, and other types of storage businesses. These types of properties are typically found in the more spread-out parts of metro Charlotte.
Your Neighbors in Charlotte’s University City Area
The beautiful University of North Carolina at Charlotte (UNCC) takes up a large portion of the University City area. But who else will be surrounding you in your new business home in this neighborhood? A few of the popular businesses and buildings around the area include:
- Innovation Park
- University Executive Park
- UNC Charlotte Marriott Hotel & Conference Center
- The Home Depot
- United States Performance Center
- Boardwalk Billy’s Raw Bar and Ribs
FAQs About the University City Neighborhood in Charlotte, NC
Where is University City compared to Charlotte?
University City (U-City) is in the northeastern corner of Charlotte in Mecklenburg County, about 10 miles from Uptown. Its area falls mostly within the city limits of Charlotte.
What University is near Charlotte?
The University of North Carolina at Charlotte is a major university just 10 miles from central Charlotte.
Other colleges in and near Charlotte include Queens University, Davidson College, Johnson C. Smith University, Johnson & Wales University Charlotte Campus, Belmont Abbey College, and Charlotte Christian College and Theological Seminary.
How Big is the University of North Carolina at Charlotte?
UNCC spans 1000 acres and currently enrolls over 31,000 students per year. It’s the third-largest university in North Carolina, after North Carolina State University at Raleigh and the University of North Carolina at Chapel Hill.
Is University City, Charlotte a good place to start a business?
Yes, University City is an excellent place for both startups and existing businesses. As a university area, it’s a hub for innovative thinking, superior talent, and high-caliber employees.
In addition to the extensive and talented employee pool, University City offers close proximity to major interstates, including I-85 and I-485. It also has a plethora of options for leasing (and some options for purchasing) office and retail space, including suburban offices, large corporate developments, grocery-anchored complexes, bulk retail stores, and more.
How Much Does Commercial Real Estate Cost in University City?
The average cost of commercial real estate in this area of Charlotte is around $21/sf/yr for properties for lease and $215/sf for properties for sale.
Find Your Next Commercial Property in the Metro Charlotte Area
In the commercial real estate industry, Regent Commercial Real Estate stands apart as the experts in the Charlotte metro area. With over 10 years of experience working in the greater Charlotte region, we understand the unique landscape and distinctive opportunities that the Charlotte neighborhoods have to offer. From the northern Lake Norman area to the South Carolina cities of Rock Hill, Fort Mill, and Indian Land, and from the western cities of Belmont and Gastonia to the eastern corners of Harrisburg and Mint Hill, you can trust Regent CRE to be your experienced guide as you navigate commercial properties.
We know that you have a lot on your plate, and that’s why we’re committed to leveraging our experience and expertise to find you the property that best fits your individual business goals. From a customized market report to expert negotiation tactics to closing and move in, we’ll make the process simple so that you can focus on your business.
With nearly 1000 successful sales and lease transactions under our belt, CCIM– and SIOR-designations, comprehensive search database tools, and a network of resources throughout the industry, you can trust that you’ll experience success when you work with us. Whether buying, selling, or leasing, contact us today to get started.
