In the early 90s, the Ballantyne Corporate Park became one of the largest developments in Charlotte’s history and it might soon become the largest real estate sale in Charlotte’s history.
The CEO of the Bissell Company, Ned Curran, put out a statement last September, stating that the company was looking for “strategic alternatives” moving forward. There have since been rumors that New York-based Northwood Investors (parent company of Northwood Ravin, who built The Vue) have been looking at buying the entire Ballantyne Corporate Park.
Over the past few months, Northwood has filed numerous new corporate entities in North Carolina, each of which corresponds to a specific Ballantyne property, such as; NW Brixham Green One LP (named after Ballantyne’s Brixham Green One building), NW Brixham Green Two LP (named after Ballantyne’s Brixham Green Two building), NW Brixham Green Three LP (named after Ballantyne’s Brixham Green Three building), NW Brigham Building (named after Ballantyne’s Brigham Building), etc.
The entire 535 acre Ballantyne Coporate park includes over 4.5 million square feet of office space, 4 hotels with a total of almost 600 rooms, an award winning golf course, and over 400,000 square feet of retail space.
Using current commercial sales data for the Charlotte region, we calculated that the entire Ballantyne corporate park could now be worth upwards of $1.5 billion.
If the entire corporate park was sold for anywhere near that number, it would go down in the record books as the largest single real estate transaction in Charlotte’s history.
Both Northwood Investors and Bissell declined to comment.
We will update this article as new information comes in.
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