Stream Realty Partners and The Durban Group Announce Mixed-Use Development in Charlotte’s South End

June 15 2 min read

CHARLOTTE, NC – June 15, 2021 – Stream Realty Partners (Stream), a national real estate services, development, and investment company, and joint-venture partner The Durban Group, have announced their plans for a mixed-use development on 1.71 acres located at 2833 and 2905 Griffith Street. Stream and The Durban Group are planning a 325,000-square-foot mixed-use development adjacent to Suffolk Punch Brewing in Charlotte’s popular South End submarket. Construction will commence in second quarter 2022.

Daniel Farrar, Executive Managing Director and Partner, oversees Stream’s investment business in the Carolinas. He said, “We are thrilled to have the opportunity to work alongside The Durban Group as we embark on this transformative project in the South End. Their hospitality and retail expertise, especially in the F&B space, is unparalleled, as well as their keen attention to detail. It is of the upmost importance to us that this development fits the fabric of the neighborhood and offers generational value to the people who live and work in this dynamic part of South End.”

Strategically located on the Lynx Light Rail at the New Bern Station, the future development will sit directly adjacent to the existing Suffolk Punch and will have its retail component anchored by a significant expansion of the Suffolk Punch campus.

Collin Ricks, Co-Founder and Principal at The Durban Group, said, “This project’s location within the booming South End submarket is irreplaceable. It is not only one of the most popular submarkets in Charlotte, but also one of the strongest growth areas in the U.S. Our firm is excited to partner with Stream to bring more opportunities to the South End, as it directly aligns with what The Durban Group stands for—applying an entrepreneurial spirit to real estate and building relationships within the communities we invest for long-term success.”

South End has seven major development projects currently under construction, and several more developments are anticipated to be announced over the next quarter. Asking rates in the South End submarket for first quarter 2021 are reported to have eclipsed $40 per square foot for Class A product, largely driven by the new construction and increased demand. In the past year, major companies such as Lending Tree, USAA, Grant Thornton, All State Insurance, and others have named South End as their new home in Charlotte.

Jared Londry, Executive Managing Director at Stream, said, “Our bet is on South End—we moved our office to this submarket, recently invested in 1.79 acres at 1218 S Church Street and are now moving forward with this development project with The Durban Group. This submarket presents an exciting time for investors in the real estate space, and I’m thrilled that Stream has the opportunity to be part of that investment thesis.”