Ballantyne Village, which recently dodged foreclosure, announced a slew of new tenants this afternoon, including a favorite pizza joint, a SouthPark favorite, a cell phone store, a software company and an expanded massage chain.
The upscale retail location was beset by vacancies that rose to about 50 percent during the economic downturn. Initially valued at about $71 million in 2006, the property struggled to pay off its loan. A planned hotel, office and condo tower were shelved. Owner BV Retail owed more than $31 million when lenders started foreclosure proceedings last year.
But in April, Ballantyne Village reached a refinancing agreement that allowed the owners to retain a 100-percent stake and saved the 165,000-square-foot property from the auction block, where it was set to be sold in July.
Monday, Ballantyne Village announced the following new tenants:
- Mellow Mushroom, an Atlanta-based chain offering pizza in "an eclectic, art-filled environment," is opening a 6,800-square-foot restaurant.
- Terrace Cafe will open its second restaurant in Charlotte, adding a 3,900-square-foot store. The restaurant currently has one Charlotte location, on Piedmont Row at SouthPark.
- Cellular Sales, an authorized Verizon Wireless retailer.
- eBuilder, a software management firm.
- Massage Envy, which already is a tenant, is expanding its store.
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14 comments:
It's Mellow Mushroom, not Magic Mushroom. You probably want to proofread your title.
What is "Magic Mushroom"? Please revise to say it is Mellow Mushroom. Proofread people!!
Thanks, anonymous. I simply got carried away by the magic of it all.
naw, forget the mellow mushroom, where can i get the magic ones?
Love Mellow Mushroom! Best with Terrapin or Sweetwater.
Any idea when these will open?
McPizza anyone?
The Magic Mushroom place is such a trip....
I LOVE them! So excited they are coming to my neighborhood and a great location too!
The word "tennants" is plural, not possesive, like "tennant's". Get it right if you're paid to write. This is simple grammar, people.
To anonymous 6/9/11 at 12:58pm, if you're going to correct someone, at least use spell check, so you don't sound like an even bigger moron. 'Tenants' only has 2 Ns (not 3) and 'possessive' has 4 Ss (not 3). This is simple spelling, people.
That's a big space for the mushroom. Good luck with that.
Be careful about the magic mushrooms. CMPD has nothing better to do than arrest people for having a good time.
Sweet, another cell phone store!
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