Lincoln Property Company, Vision Ventures and Hornets Sports & Entertainment Form JV to Acquire Queen City Quarter in Uptown Charlotte

CHARLOTTE, N.C. — Lincoln Property Company, Vision Ventures and Hornets Sports & Entertainment (HSE) announced Nov. 2 a joint venture to acquire Queen City Quarter, formerly known as the EpiCentre, a 302,324-square-foot mixed-use entertainment, dining and retail property in Uptown Charlotte. CBRE Charlotte brokered the sale.

The partners said the venture will evaluate opportunities to reposition the asset to better serve the surrounding community and the evolving needs of Uptown Charlotte. The partnership aims to revitalize the former EpiCentre and support continued economic development in the heart of Uptown, the group said.

Queen City Quarter Property Details

Queen City Quarter is located at 210 E. Trade St., Charlotte, NC 28202, on approximately 3.17 acres along a corridor connecting Spectrum Center and the Charlotte Convention Center. The four-level complex opened in 2008 and includes restaurant, retail, entertainment and office space. It has direct connections to nearby hotels, the Overstreet Mall and the LYNX Blue Line light rail.

The property was once a thriving entertainment hub but has experienced significant changes in occupancy and activity in recent years. It was listed for sale in March 2026 after CBRE took over management following a 2022 foreclosure. A club and restaurant concept, Circa Charlotte, is planned to open in the former Suite space.

Vision Ventures' Prior Ownership

Vision Ventures previously owned the property from 2010 to 2015, a period in which occupancy increased from approximately 50% to 95%, the firm said.

"Having previously acquired this property and successfully led its repositioning, we understand the importance of the location," said Paul Picarazzi, Managing Principal at Vision Ventures. "That history gives us a unique perspective, and we've assembled a team built to deliver the next chapter and new vision for the site. We're excited about this partnership and confident that our combined strengths will help make this property a contributing asset for Uptown Charlotte once again."

Lincoln Property Company and Hornets Sports & Entertainment Roles

"We're incredibly excited to continue our strong partnership with Vision Ventures and the Hornets as we work together to bring new energy and investment to Queen City Quarter and Uptown Charlotte," said Johno Harris, Senior Executive Vice President at Lincoln Property Company. "By building on the work we've already done together, we have an opportunity to help drive economic development, strengthen this important district and contribute to the continued evolution of Uptown."

Lincoln Property Company's combined management and leasing portfolio on behalf of institutional clients includes more than 720 million square feet of commercial space, according to the firm.

HSE owns the Charlotte Hornets and the Greensboro Swarm and operates Spectrum Center. The organization said its involvement in Queen City Quarter extends its Uptown commitment beyond the arena, building on its investment in the Novant Health Performance Center, which is located across from Spectrum Center and is scheduled to open in spring 2027. The facility at 501 E. Trade St. is planned to include more than 160,000 square feet for training, performance, administrative offices, retail and public-facing sports medicine services. It is part of an estimated $190 million project, with approximately $160 million from Hornets ownership.

"We're proud to partner with Lincoln Property Company and Vision Ventures on Queen City Quarter, a property at our front door that has long been an important part of Uptown," said HSE Co-Chairmen Rick Schnall and Gabe Plotkin. "A vibrant Uptown is essential to Charlotte's continued emergence as a leading U.S. city, and we're committed to being part of the city's future success. Alongside partners with deep local roots, we look forward to creating a welcoming destination that restores the area's energy, brings people together and gives residents, visitors and fans more reasons to spend time Uptown."

CBRE Charlotte Brokerage

The sale was brokered by Patrick Gildea, Matt Smith, Adam Russ and Erin Varol of CBRE Charlotte. The joint venture will continue evaluating opportunities for the property, and additional details on its plans are expected to be shared as the process moves forward.

Uptown Charlotte Market Context

The acquisition comes as Uptown Charlotte's real estate market is being reshaped through conversions, removals and selective reinvestment rather than a broad wave of new construction. Approximately 2.6 million square feet of Uptown office inventory is being removed through conversion or repositioning, including about 715,000 square feet already removed and another 1.9 million square feet queued for conversion.

Uptown office vacancy fell 1.2 percentage points year over year to 13.1%, partly because of inventory reduction. Charlotte's second-quarter 2026 office absorption was negative 283,520 square feet, driven largely by inventory removals and repositioning at Uptown properties.

Retail conditions are comparatively tighter. Charlotte's retail vacancy stands at 3.3%, with 855,000 square feet delivered into a 154.6 million-square-foot market over the prior year and 0.9% of stock under construction.

Outlook for Queen City Quarter

The joint venture has not announced a redevelopment plan, tenant roster or timeline. The partners said they will continue evaluating the property's future and share additional information as plans develop.

About the Firms

Lincoln Property Company is a private real estate firm offering services across asset types including office, multifamily, life science, retail, industrial and mixed-use properties in the United States, the United Kingdom and Europe. Vision Ventures, founded in 1998, is a commercial real estate firm providing acquisition, brokerage, construction and development services. HSE owns the Charlotte Hornets, which joined the NBA in 1988, and operates Spectrum Center.

Sources

Lincoln Property Company press release: https://lpc.com/press-releases/lincoln-vision-ventures-hornets-acquire-queen-city-quarter/