Charlotte Hornets join group to purchase Queen City Quarter

Hornets Sports and Entertainment has partnered with Lincoln Property Company and Vision Ventures to acquire the former EpiCentre property in Uptown Charlotte for $27.5 million. The 304,000-square-foot complex, now rebranded as Queen City Quarter, is located directly across Trade Street from the Spectrum Center.

The purchase price represents a significant decline from the property’s previous valuations. In 2014, the complex sold for $132.5 million, and Mecklenburg County currently values the site at approximately $97.8 million. The property has faced various challenges, including developer defaults, competition from the South End district, public safety concerns, and the impact of COVID-19 on its entertainment tenants.

At the time of the sale, the complex had a lease rate of approximately 32%.