Five new tenants, all of which have a presence in the Charlotte market, have signed deals to lease space in the 40-acre retail development RedStone, according to a press release by Charlotte-based MPV Properties.
The commercial real estate company announced Wednesday the new additions to its more than 300,000-square-foot retail project, which already under construction near the intersection of Johnston Road (Highway 521) and Fort Mill Highway (Highway 160).
In addition to the theater, these five tenants will be ready to open their doors with the completion of Phase I construction, which is expected to be complete by Summer 2017.
Three restaurants have signed on. Portofino’s Ristorante Italiano e Pizzeria will operate a 3,200-square-foot space. Red Rocks Cafe signed an agreement for a 5,654-square-foot space; and Moe’s Southwest Grill will take over 2,374 square feet.
RedStone will be the first South Carolina location for both Portofino’s and Red Rocks Cafe. Red Rocks has a location in Huntersville’s Birkdale Village and Strawberry Hill in South Charlotte. Portofino’s has 3 Charlotte locations – Park Selwyn Terrace, the Arboretum and on Eastway Drive.
The other two tenants are Lee Spa Nails. The company, which has a location in the University area, leased 2,219 square feet. Sharonview Federal Credit Union will occupy a 2,597-square-foot office and has 3 Charlotte locations.
MPV’s leasing agent Keely Hines said future tenants will also likely include a salon and day spa as well as coffee, sandwich and yogurt shops.
Phase I encompasses 55,000 square feet of retail space in addition to the more than 55,000-square-foot movie theater, which has 14 screens.
At the time of groundbreaking in February, MPV said it expected to be able to name tenants for 30,000 square feet of space by May 1.