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What is the 2% rule?
Half our readers knew what the 2% rule in commercial real estate typically suggests.
For the other half, we’ll make it quick: The 2% rule is a real estate gut-check. If a property’s monthly rent is about 2% of what you paid for it (including any upfront repairs), it might be a solid cash-flow play.
Listed
Editor’s Pick
Queen City Quarter | 302,324 sqft | Contact broker for pricing | Formerly known as the EpiCentre, this property is 32.5% leased. Deutsche Bank currently owns the former entertainment venue, after purchasing it in 2022 for $95 million.
Office, for lease
127-A Brevard Ct. | 630 sqft | $2,200/month (NNN) | Small-format suite suitable for office or retail use with flexible layout in a Charlotte commercial corridor.
112 S. Tryon St., Unit 1250 | ~1,000 sqft | $3,600/month (full service) | 12th-floor office suite in Tryon Plaza with private offices, conference room, and city views, with utilities included in a prime Uptown Charlotte location.
Carolina Ventures Office Park | Contact broker for size + pricing | Office park with frontage along Hwy 29 and access to I-485, positioned in a growing Charlotte corridor with nearby residential, retail, and medical development.
Commercial, for sale
2305 W. Morehead St. | 1,000 sqft | $129,900 | Small brick commercial building in Charlotte’s West End with redevelopment potential, located between Uptown and the airport in a rapidly growing corridor.
8421 University E. Dr. | 2.85 acres | $650,000 | Development site in Charlotte’s University City with strong connectivity and flexibility for multifamily, mixed-use, or commercial uses in a high-growth corridor near UNC Charlotte.
Studio, for sale
3120 Latrobe Dr. | Recording studio | $900,000 | Fully built-out media production facility with multiple studios, control rooms, offices, and kitchen, offering turnkey use or conversion potential for entertainment, event, or specialty commercial uses.
“I love these new BizBrief newsletters — such great information!” said Alex Taylor from NC TECH. Scroll down to the Agenda section for more info about the Women in Tech Forum next week.
Biz
Japanese financial services giant Sumitomo Mitsui Banking Corp. plans to invest ~$50 million to open an office in Charlotte, bringing up to 2,000 jobs between 2028 and 2032. SMBC is expected to hire executives, middle management, associates, and analysts, with an average salary of $165,000.
Banking
In even more banking news, U.S. Bancorp has taken over as the official bank and wealth management sponsor of the NFL, replacing Charlotte-based Truist Financial — a sponsorship that lasted five years. Meanwhile, U.S. Bank’s local employment has grown from 100 people in 2009 to 1,500 people today. (Charlotte Business Journal)
Job
Opal Fuels is hiring a Director of Engineering, Procurement, and Construction ($175,000–$195,000). The role will lead large-scale biogas infrastructure projects, oversee EPC execution, and manage project teams delivering capital portfolios across energy operations. Apply online.
Network
Pro tip: Use LinkedIn’s “Jobs” tab and filter by “in my network” to find roles at companies where you already have a connection. Another reason to build strong relationships like our own Maria Adnado.
Community
FEMA is spending $26 million to buy 75 homes in Western North Carolina damaged by Hurricane Helene. The buyouts in Yancey, Henderson, and Polk Counties aim to reduce future flood risk while helping homeowners relocate from vulnerable areas. (Business NC)
Health
ECU Health is seeking state funding to reopen Martin General Hospital as North Carolina’s first Rural Emergency Hospital. The proposal faces a major hurdle as lawmakers weigh a $220 million funding request amidst ongoing budget negotiations. (North Carolina Health News)
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