The Midwood Corners property in Plaza Midwood, at the corner of The Plaza and Central, is about to get a significant makeover after coming under new ownership.
The overhaul will include:
- Aesthetic upgrades to its exterior, such as replacing awnings and updating the façade.
- Adding a new patio/plaza area on the side of the building facing Central.
- Several new tenants.
Why it matters: The Midwood Corners’ renovation marks the latest step in the transformation of Plaza Midwood. A neighborhood long beloved for its quirky small businesses, the area’s become increasingly attractive to developers.
One of those newcomers is LA-based Dave’s Hot Chicken, as Axios recently reported. It’s going in where the Subway was. Additional new tenant announcements will be coming soon.
What they’re saying: “We want it to be retail and food/beverage uses that are complementary to one another,” says Jay Mitchener of Thrift Commercial Real Estate Services, the firm handling leasing of the property. There’ll ultimately be five to eight new tenants, with a mix of local and national businesses, Mitchener adds.
Timing: Construction should wrap up sometime in the middle of next year, according to Josh Page, EVP and COO of landlord Eastern Federal Corporation.
- Eastern Federal bought the 23,000 square-foot Midwood Corners site in early 2020 for $8.5 million, property records show.
“We felt that owning Midwood Corners in Plaza Midwood was a perfect addition to our existing portfolio of quality Charlotte infill retail in neighborhoods like Myers Park, Eastover, Elizabeth and South End,” Page tells Axios.
- Eastern Federal owns a handful of prominent shopping centers around Charlotte, including the one where the Manor Theatre was.
Yes, but: You may’ve noticed the departure of a few longtime tenants from Midwood Corners in recent months, including Rita’s Italian Ice and Hong Kong Restaurant. In fact, the only current tenants that’ll remain post-overhaul are Akahana Asian Bistro, Midwood Dentistry and Dunkin’ Donuts, Page says.
Book Buyers, a longstanding family-owned used bookstore, doesn’t have any set plans yet for its next location, says co-owner Lee Rathers. The retailer is eyeing space at Eastway Crossing, though.
- Eastway Crossing is about two miles up the street on Central, becoming home to a growing number of small businesses that’ve left Plaza Midwood, including the Dog Salon, the old Dairy Queen, Armada Skate Shop and Open Door Studios.
“We’ve been here for 22 years and wish we could stay,” Rathers says.
Here’s a look at what Midwood Corners will look like post-renovation. Renderings courtesy of Thrift Commercial Real Estate Services.