Lincoln Property Company and McCourt Partners advance 47-story office tower. Lincoln Property Company and McCourt Partners are proposing a 47-story office tower at 536 Mission Street, featuring 1.22 million square feet of office space, with construction estimated to cost. Image courtesy of SOM Traded Editorial

Former Epicentre sells for 71% price drop to new Hornets joint venture. By Catherine Muccigrosso and Desiree Mathurin Updated November 4, 2026 3:48 PM Gift Article Uptown Charlotte's Queen City Quarter, formerly known as Epicentre, sold for $27.5 million to its new owners, Mecklenburg County property records show. That's a 71% price drop from when the one-block complex was last purchased at a foreclosure auction on Aug. 9, 2022, by lender Deutsche Bank Trust Co. for $95 million. The bank was the sole bidder for a property that had seen its occupancy rate plummet to roughly 30%. The property's tax value is nearly $98 million, according county records. The joint venture with Charlotte Hornets owner Hornets Sports & Entertainment and real estate firmers Lincoln Property Co. and Vision Ventures announced Tuesday, Nov. 3, its acquisition of the 302,324-square-foot mixed-use entertainment, dining and retail center at 210 E. Trade St. The site is near Spectrum Center, the Hornets home arena. HLV Trade LLC with Lincoln Property's Charlotte address is listed as the new owner on the deed. Vision Ventures owned the property from 2010 to 2015, boosting occupancy from about 50% to 95%, according to the news release. The new owners said Tuesday that they will being new energy and investment to the financially struggling center. Redevelopment plans are unclear. But with the Hornets' involvement, Queen City Quarter could be at the center of a sports entertainment district. The Hornets declined to comment. Other officials with the new joint venture have not responded to requests for comment. Property manager CBRE referred comments to the new owners. Queen City Quarter was once uptown's economic driver. The complex debuted as Epicentre in 2008, viewed by city officials as an important part of uptown's redevelopment that would "buoy the entire hospitality industry." During its height of popularity, the one-block complex drew crowds for CIAA parties, the NBA All-Star Game and the Democratic National Convention, among other high-profile events. In 2014, California real estate group CIM Group purchased the center for $130.5 million. But following a spate of safety issues and the pandemic, in June 2021, Epicentre fell into receivership after defaulting on an $85 million loan from lender Deutsche Bank Trust Co. The center was listed as 35% occupied with 21 businesses as its popularity dwindled and development growth shifted to South End. Longtime tenants that have remained include Mortimer's, Red Eye Diner, Fuji Hibachi and Teriyaki Grill, and Bowlero. Recent additions over the past few years include Sea Grill Restaurant, Lottie's Cafe, and Kitchen and Kocktails. Queen City Quarter faces financial struggles. Despite the shift to a corporate and restaurant hub, nightlife is trickling back into the center. This month, a nightclub called Circa Charlotte debuted in the space formerly occupied by Suite. But financial stability remains a challenge. Three tenants recently faced eviction proceedings related to unpaid rent. Sea Grill Restaurant & Bar reached a confidential settlement in late March, allowing the business to continue operations. Taste Cheesesteak Bar faced eviction action over $14,000 in unpaid rent. The Philadelphia-based restaurant was expected to open in 2024 but never did. Privee Clothing filed an appeal over its eviction action. Property price drop seen nationally. The reduced price point is part of a growing national trend among commercial and office spaces where owners defaulted on loans. The trends have been seen in other Charlotte office spaces, including uptown's Charlotte Plaza at 201 South College St. That building was bought last year for $70 million by Florida-based Morning Calm Management and California-based Praelium Commercial Real Estate. The purchase price was 56% less than the $160 million paid by previous owner Rabina Properties, which is based in New York, in 2015. The building's $120 million loan with Wells Fargo matured in January 2023. And last year, Northlake Mall sold for $39 million to Georgia-based Hull Property Group for $39 million after the two-story, 1.1-million-square-foot mall fell into receivership in 2021. This story was originally published November 4, 2026 at 1:07 PM. Around Town August 6, 2026 2:45 PM November 3, 2026 1:00 PM The Charlotte Observer Catherine Muccigrosso covers retail, banking and other business news for The Charlotte Observer. An award-winning journalist, she has worked for multiple newspapers in the Carolinas, Missouri and New York. The Charlotte Observer Desiree Mathurin covers growth and development for The Charlotte Observer. The native New Yorker returned to the East Coast after covering neighborhood news in Denver at Denverite and Colorado Public Radio. She's also reported on high school sports at Newsday and southern-regional news for AP. Desiree is exploring Charlotte and the Carolinas, and is looking forward to taking readers along for the ride. Send tips and coffee shop recommendations.

Lincoln, PGIM acquire 52,410-SF Texas medical office building. Lincoln Property Company, in partnership with PGIM, has acquired SOBO Medical Building, a 52,410-square-foot outpatient medical office building and surgery center in Boerne, Texas, expanding the partnership's healthcare real estate holdings in the state. The three-story Class A property is located at 112 Herff Road, approximately 30 miles northwest of San Antonio. Built in 2019, the building was approximately 93% leased at the time of the acquisition. Its tenant roster includes Baptist Health System and Surgery Center of Boerne, along with providers offering primary care, ambulatory surgery, orthopedics, pain management, physical therapy, mammography, gastroenterology, diagnostic imaging and clinical research. Lincoln said the acquisition fits its strategy of investing in high-quality healthcare properties in growing markets. Boerne has experienced substantial population growth in recent years, increasing demand for outpatient medical services closer to where patients live. The property's ambulatory surgery component adds another layer of investment appeal. Surgery centers and other specialized outpatient facilities typically require significant tenant improvements and medical infrastructure, which can make them more difficult and costly to relocate than conventional office users. CBRE represented the seller in the transaction and also arranged acquisition financing on behalf of Lincoln. The seller, purchase price and financing terms were not disclosed. The acquisition also places Lincoln and PGIM in a market where Baptist Health System has been expanding its broader healthcare footprint. Baptist previously announced plans for an acute-care hospital campus near Interstate 10 and State Highway 46 in Boerne, adding to the system's existing surgery center, physician practices and outpatient services in the community. For medical office investors, SOBO Medical Building combines several characteristics that continue to attract institutional capital: relatively new construction, high occupancy, health-system tenancy, ambulatory surgery and a location in a rapidly growing suburban market. The transaction also reflects the broader shift in healthcare delivery toward outpatient settings. As health systems and physician groups move more procedures and specialty services away from traditional hospital campuses, well-located medical office buildings that can accommodate multiple clinical uses have become increasingly important pieces of healthcare real estate infrastructure. For Lincoln and PGIM, the Boerne acquisition adds another stabilized outpatient asset to a growing Texas healthcare portfolio while providing exposure to continued healthcare expansion in the San Antonio region.