Birkdale Village sales material

May 21. By Dave Yochum. It looks like one of the region’s trophy properties is on the market less than a year after it was sold. Newmark, a leading global real estate advisory and services firm with offices in Charlotte, has listed Birkdale Village for an undisclosed amount.

Lake Norman real estate broker Nick O’Shaughnessy, a Birkdale resident—and critic of Birkdale expansion plans—said entitlements for new development on the property added tens of millions of dollars in value to the internationally recognized mixed-use development.

Jamestown paid an undisclosed amount for Birkdale Village as part of its acquisition of part of the North American Properties/DDR portfolio. The ownership grroup consists of Nuveen Real Estate,  North American Properties and Jamestown.

Click here to see a marketing brochure.

NIck O’Shaughnessy. Photo | Facebook

Officials at Newmark in Charlotte nor Jamestown in Atlanta could be reached for comment.

On projects of this magnitude there is frequently a period of qualification for a buyer to submit financials before the seller will quote a price.

Significant expansion plans have been approved by the town of Huntersville.

The added value of municipal and local approvals is apparently in the tens of millions of dollars.

Quotable

“It’s difficult to put a number on the value of the “Additional Future Density Entitlements” in isolation but as added value to the existing development I would estimate on the order of $25 million to $40 million–plus,” O’Shaughnessy said.