University City, NC Commercial Real Estate - Retail & Office Space
University City Commercial Real Estate
I-85 & LYNX Blue Line Access
Research Park Office Campuses
University, Hospital & Retail
Description
University City is an edge city mostly within the city limits of Charlotte, surrounding the UNC Charlotte campus in northeastern Mecklenburg County, southeast of Interstate 85. Its core falls under the City of Charlotte for zoning, and University City Partners, a nonprofit, oversees Municipal Service District 5 there. Commercial space ranges from large single-tenant office campuses in University Research Park to multi-tenant office buildings and The Shoppes at University Place on J M Keynes Drive, with UNC Charlotte and Atrium Health University City hospital anchoring the area. The LYNX Blue Line extension along North Tryon Street links the district to Uptown by light rail.
Commercial Real Estate Market Trends
A current brokerage vacancy figure for University City was not publicly available for this page, so this section relies on district and developer sources. University City Partners says University Research Park has over 2,200 acres and 11.5 million square feet of office space. A UNC Charlotte feature, citing University City Partners, reported that University City has added 1.4 million square feet of office space since 2017, the most of any large suburban office market in the city. Newer multi-tenant supply includes Crescent Communities' Escent Research Park, a four-story creative office building with 159,000 square feet, completed in 2021.
Commute & Logistics
The LYNX Blue Line extension to University City and UNC Charlotte opened on March 16, 2018, adding four stations in the district: University City Boulevard, McCullough, JW Clay Boulevard/UNC Charlotte and UNC Charlotte–Main. The JW Clay Boulevard/UNC Charlotte station connects by pedestrian overpass to both sides of North Tryon Street and to an adjacent parking garage. By road, Interstate 485 passes through the area and Interstate 85 lies just to its northwest, while University City Boulevard (NC 49), W.T. Harris Boulevard (NC 24) and North Tryon Street (US 29) are the main corridors.
Business Climate & Economy
University City Partners is a nonprofit organization based at 8801 JM Keynes Drive. It says University City is home to 80,000 employees, and a UNC Charlotte feature described the area as Charlotte's second-largest employment hub after uptown. A 2019 University City Partners article listed large single-tenant facilities in University Research Park, including the TIAA complex, Electrolux headquarters, Wells Fargo CIC and multiple Duke Energy facilities. UNC Charlotte and Atrium Health University City hospital anchor the district, and IKEA opened a store in University City on February 18, 2009.
Key Commercial Nodes
University City's commercial space is spread across a few distinct clusters:
- University Research Park — corporate office and research campuses
- Escent Research Park — Crescent Communities office building on David Taylor Drive
- The Shoppes at University Place — open-air shopping center on J M Keynes Drive
- Atrium Health University City — acute care hospital on N. Tryon Street
- UNC Charlotte — university campus served by two LYNX stations
- IKEA — store that opened in University City in 2009
Leasing & Purchasing in University City
For University City, I first place a requirement in the right cluster, because a corporate campus in University Research Park, a multi-tenant office building near a LYNX station, and a storefront near The Shoppes at University Place are different leasing conversations with different landlords. Office users can compare newer first-generation space with existing buildings, retail and restaurant users can weigh proximity to UNC Charlotte and the light rail stations, and medical users may look near Atrium Health University City. Zoning is administered by the City of Charlotte. As a bilingual English/Korean commercial broker at eXp Realty, I compare sites, review lease terms such as NNN charges and tenant improvement allowances, and explain each step in English or Korean.
Frequently Asked Questions
University City has corporate and research office campuses in University Research Park, multi-tenant office buildings such as Escent Research Park, shopping center retail and restaurant space such as The Shoppes at University Place, and large-format retail including IKEA, with UNC Charlotte and Atrium Health University City anchoring the area.
Yes. The LYNX Blue Line extension opened on March 16, 2018, with four stations in University City: University City Boulevard, McCullough, JW Clay Boulevard/UNC Charlotte and UNC Charlotte–Main. Trains run south to Uptown Charlotte, and the JW Clay Boulevard/UNC Charlotte station has an adjacent parking garage.
Rates vary by property class, size and lease structure, such as NNN versus gross, and a research park office campus, a newer multi-tenant building and shopping center retail space each price differently. I can pull current comparable lease rates for your target size and use.
Sources
- Wikipedia: University City (Charlotte neighborhood)
- University City Partners: Home
- University City Partners: Why University City?
- University City Partners: Crescent is bringing 'creative office space' to Research Park
- University City Partners: Crescent Communities' Escent Research Park completes construction
- The Shoppes at University Place: About
- Wikipedia: Atrium Health University City
- Atrium Health: Atrium Health University City
- UNC Charlotte: How UNC Charlotte is powering University City's dramatic growth
- Wikipedia: Lynx Blue Line
- Wikipedia: JW Clay Boulevard/UNC Charlotte station
Location
Yubeen Choi
Real Estate Agent
- Location: Charlotte, NC
- Email: yubeen.choi@exprealty.com
- Phone: (704) 668-1668
