Business

Birkdale Village will get a refresh with new owner

Oct. 19. By Dave Yochum. Birkdale Village will be sold to North American Properties for an undisclosed amount, according to sources. The 66-year-old North American has developed more than $7 billion in properties, including 22 million square feet of commercial space and 19,000 residential units in 15 states.

The mixed-use project in Huntersville is apparently in store for a makeover inspired by North American’s highly successful Avalon development in Alpharetta, Ga.

Neither officials at North American nor Birkdale Village, which is owned by Nuveen/DDRTC Birkdale Village LLC, responded for comment.

However, the deal is expected to close soon. Sources said plans include new signage, cosmetic refreshing and more events.

Value over $120 million

The various real estate parcels that comprise Birkdale Village are valued in excess of $120 million, according to Mecklenburg County tax records. There are several retail spaces available for lease; office space is fully leased.

North American, which is headquartered in Cincinnati, has recently launched 36 projects totaling $2.2 billion in capitalization.

Avalon is a trendsetter in mall development

In metro Atlanta, North American Properties developed Avalon, an 86-acre mixed-use project with more than 500,000 square feet of retail, a multi-screen theater, conference center and a full-service hotel, Class A office and residences, including luxury rental homes.

The project infuses resort-level hospitality throughout a walkable, connected community with shopping, dining, entertainment, living and working.

Birkdale Village has a similar dynamic on a smaller scale.

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