CHARLOTTE, N.C. (QUEEN CITY NEWS) — The Epicentre, once a hub for entertainment, dining and shopping in the heart of Uptown Charlotte, will be auctioned off to the highest bidder in May, according to court documents.
The former bustling hotspot opened in 2008, but financial issues exacerbated by the coronavirus pandemic led to failing business and caused the center to become a shell of its former self.
In spring, 2021, the Epicentre owners defaulted on their $85 million loan with Deutsche Bank. The bank then filed a complaint with the North Carolina business court that later appointed a receiver to oversee the management of the property.
Last month, the Mecklenburg County Superior Court approved the bank to foreclose on the Uptown property.
A Notice of Foreclosure Sale said the property will be sold “AS IS, WHERE IS” to the highest bidder for cash on May 12.
A report last month indicated that fewer than one-third of the complex’s 50 spaces were occupied by businesses.
Court documents said that no written leases for occupancy of the property are being foreclosed and they are not subject to the foreclosure sale.
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