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What’s next for vacant Dean & Deluca site in south Charlotte?
- December 13, 2018
- Deals, North Carolina, Our Company, Our People, Retail Real Estate
Don’t expect just any tenant to fill the vacant Dean & Deluca space in south Charlotte.
Roughly 4,000 square feet sits vacant in the Stonecrest at Piper Glen shopping complex — and has since the specialty retailer abruptly closed its three Charlotte locations in April.
“We’re patient for the right tenant but anxious to see what that is,” says Darrell Palasciano. He and Molly Prince with The Shopping Center Group are leasing that space.
The ideal fit would be a restaurant, preferably full service. Other targets include unique, family-friendly establishments that serve lunch and dinner— and an added bonus if it’s chef driven.
They’re considering local, regional and national concepts.
“We’ve said no to quite a few concepts. It’s really important to pick the right thing,” Prince says.
The former Dean & Deluca space represents a prime opportunity; the nearly 420,000-square-foot shopping complex is otherwise 100% leased.
Demographics show that nearly 74,000 people work within five miles of the center. The median household income within three miles of that shopping complex is $102,596 — 75% above average for the city of Charlotte. Roughly 37.5% of households have children.
He notes that The Shopping Center Group has been strategic in lining up tenants at Stonecrest over the last decade, locking long-term tenants.
It is home to 18 different restaurant concepts.
“We’ve been very deliberate in who to proceed with,” Palasciano says. “We think it’s the best space in the city.”
Original article appeared here