Plaza Midwood, NC Commercial Real Estate - Retail & Office Space
Plaza Midwood Commercial Real Estate
Gold Line Stop at Hawthorne Ln
Central Ave Shops & Restaurants
Class A Office at Commonwealth
Description
Plaza Midwood is a neighborhood approximately one mile to the east of Uptown, roughly bound by Hawthorne Lane to the west, The Plaza to the north, Briar Creek Road and the Charlotte Country Club to the east and Central Avenue to the south. It began in the early 1900s as a streetcar suburb and is inside the City of Charlotte, so zoning follows the City's Unified Development Ordinance. Its commercial district centers on the Central Avenue corridor, known for art galleries, eclectic stores and restaurants, and the Commonwealth development has added the community's first mid-rise office building along with new retail.
Commercial Real Estate Market Trends
Brokerages don't publish a separate commercial market report for Plaza Midwood, so new development is the clearest signal. Crosland Southeast and Nuveen Real Estate broke ground in Fall 2021 on Commonwealth, a mixed-use project on the former Central Square shopping center site, planned with 100,000 sq ft of experiential retail and restaurant space in its first phase. Its office building rises six stories and is marketed as a 145,000 SF Class A office building. Retail tenants shown on the project's leasing listing at 1318 Central Avenue include bartaco, Sweetgreen, Uchi, Lucchese Bootmaker and Van Leeuwen Ice Cream.
Commute & Logistics
The CityLynx Gold Line streetcar's eastern terminus is Sunnyside Avenue station on Hawthorne Lane, which opened on August 30, 2021. The station is in Elizabeth, beside the Hawthorne Lane Bridge over Independence Expressway (US 74/NC 27), with the Plaza-Midwood commercial district to its northeast. A third phase that would extend the line between Hawthorne Lane and Eastland CTC has been planned but lacks funding. Central Avenue is the main commercial street, and CATS buses serve the neighborhood, including the Central Avenue and Commonwealth routes.
Business Climate & Economy
The Plaza Midwood Merchants Association (PMMA) provides business support for businesses along the Central Avenue corridor, from social media and map exposure to community events, land-use discussions and beautification, and the separate Plaza Midwood Neighborhood Association serves the neighborhood as a whole. The Charlotte Regional Business Alliance is the regional business organization. The City of Charlotte has created a Plaza Midwood Social District, with signs marking its perimeter and stickers on the doors of participating businesses. Novant Health Presbyterian Medical Center is on Hawthorne Lane, the neighborhood's western boundary.
Key Commercial Nodes
Plaza Midwood's commercial activity is concentrated on and around Central Avenue:
- Commonwealth — mixed-use development with Class A office, retail and apartments on the former Central Square site
- Central Avenue corridor — shops, bars and restaurants served by the Plaza Midwood Merchants Association
- Plaza Midwood Social District — City of Charlotte social district for participating businesses
- Sunnyside Avenue station — CityLynx Gold Line eastern terminus on Hawthorne Ln
- Novant Health Presbyterian Medical Center — hospital on Hawthorne Ln at the western boundary
Leasing & Purchasing in Plaza Midwood
I'm Yubeen Choi, a bilingual English/Korean commercial broker with eXp Realty. Plaza Midwood now has two different kinds of space: new Class A office and retail at Commonwealth, and existing storefronts along Central Avenue. I compare them on the terms that differ most, such as up-fit allowances, parking and operating costs in the new buildings against frontage, condition and parking in the existing ones. For a restaurant or bar I check whether the site is inside the Social District, and for any use I confirm the zoning district under the City of Charlotte's Unified Development Ordinance before you sign.
Frequently Asked Questions
Retail and restaurant storefronts along the Central Avenue corridor, and newer space at Commonwealth, where a 145,000 SF Class A office building sits alongside retail and restaurant space. What is available changes often, so I check current listings for your size and use.
The CityLynx Gold Line streetcar ends at Sunnyside Avenue station on Hawthorne Lane, which opened on August 30, 2021. The station is in Elizabeth, with the Plaza-Midwood commercial district to its northeast, and a planned extension between Hawthorne Lane and Eastland CTC lacks funding.
Rates vary widely by property class, size, location and lease structure, such as NNN versus gross, so a single average would be misleading. I can pull current comparable lease rates for your target size and use.
Sources
- Wikipedia: Plaza Midwood
- Wikipedia: Sunnyside Avenue station
- Wikipedia: CityLynx Gold Line
- Crosland Southeast: Commonwealth
- Commonwealth: Work at Commonwealth
- Thrift Commercial Real Estate Services: Commonwealth
- Plaza Midwood Merchants Association
- Plaza Midwood Neighborhood Association: Get Info
- City of Charlotte: Plaza Midwood Social District Q&A
- Wikipedia: Novant Health Presbyterian Medical Center
- City of Charlotte: Unified Development Ordinance
- Charlotte Regional Business Alliance: About Us
Location
Yubeen Choi
Real Estate Agent
- Location: Charlotte, NC
- Email: yubeen.choi@exprealty.com
- Phone: (704) 668-1668
