Hines Trust Acquires Historic Charlotte Design Center

Hines Global Income Trust acquired the Design District from Asana Partners for $170 million. Once the Nebel Knitting Mill, Asana bought the various components of the historic development and turned them into offices, retail spaces and restaurants. The set of buildings was built in the 1920’s.

The Charlotte Business Journal reports that Asana purchased the original three Design Center buildings for $42.7 million in November 2016. Over the next several years, the firm added several nearby assets to the assemblage. The 238,733 square foot Design Center is 100% leased.

In 2024, Asana invested about $3 million on interior renovations to the Design Center Atrium at 127 W. Worthington Ave. The work encompassed about 20,000 square feet and included updates to common areas as well as reconfiguring a portion of the space to create several office spec suites.

Paul Zarian and Hines’ Jesse Amundson represented the firm in the acquisition. Ryan Shore and Miles Theodore, with Eastdil Secured, represented Asana Partners.

The post Hines Trust Acquires Historic Charlotte Design Center appeared first on Connect CRE.