Nashville Investor AJ Capital Partners To Keep High-Profile NoDa Retail Site Intact After Purchase

NASHVILLE INVESTOR AJ CAPITAL PARTNERS TO KEEP HIGH-PROFILE NODA RETAIL SITE INTACT AFTER PURCHASE

A high-profile property in NoDa that changed hands last week will remain in place for the foreseeable future.

Nashville, Tennessee-based investment and development firm AJ Capital Partners closed Feb. 17 on its $10.3 million acquisition of 36 & NoDa, a retail property at 36th and North Davidson streets, according to Mecklenburg County real estate records. The 0.55-acre site is fully leased and home to Neighborhood Theatre, Salud Beer Shop, Boudreaux's, Sanctuary, and Johnny Fly Co.

AJ Capital has plans for further enhancements to the property, according to a statement today from Stream Realty Partners. Stream Executive Managing Director Jared Londry and Senior Associate Alex Olofson represented the seller, Ascent Real Estate Capital, in the transaction.

Ascent bought the 28,000-square-foot retail building for $5.6 million in 2016, Charlotte Business Journal previously reported.

“The Ascent team did an exceptional job elevating the aesthetics and adding complementary retail over their ownership period," Olofson said in the news release. "We look forward to AJ Capital’s further enhancements that will maintain the authentic use of Neighborhood Theatre as a storied piece of our city’s history.”

Londry said the property is "an irreplaceable asset that embodies the essence of what comes to mind when people think of NoDa.”

“Local operators like Salud are the backbone of the small business community and what create the coveted authentic tenant makeup at this location,” he said. “Promoting Salud’s incredible success, along with the staying power of Neighborhood Theatre, helped pique initial interest in this property."

Representatives from AJ Capital Partners were unavailable for comment today.