Third & Urban sells NoDa warehouse site at The Pass for $6M

July 28, 2026 - 00:40

Charlotte-based developer Third & Urban has sold a key warehouse property in the NoDa neighborhood for $6 million, marking a significant step forward for The Pass, an adaptive-reuse project that has been reshaping the area. The site, located at 4212 Raleigh Street, was purchased by RIG, a local real estate investment group. The transaction closed earlier this month, according to Mecklenburg County property records.

The property, a former industrial warehouse spanning roughly 50,000 square feet, sits within the larger Pass development footprint. Third & Urban originally acquired the site as part of a broader plan to convert aging industrial buildings into a mix of creative office space, retail, and community gathering areas. The sale to RIG suggests that the investor sees long-term value in the property's location, which is near the Lynx Blue Line light rail and the growing residential and commercial corridor along North Davidson Street.

The Pass project has been a catalyst for NoDa's evolution from a historic mill village into a vibrant arts and entertainment district. While Third & Urban will no longer own the warehouse, the sale does not halt the overall development. RIG has indicated plans to continue the adaptive-reuse vision, potentially adding new tenants that fit the neighborhood's creative and entrepreneurial character. The $6 million price tag reflects the rising demand for industrial-to-commercial conversions in Charlotte's intown markets, where land is scarce and zoning favors mixed-use projects.

NoDa has seen a surge in redevelopment activity over the past decade, with old textile mills and warehouses giving way to breweries, galleries, and tech offices. The sale of 4212 Raleigh Street is the latest example of investors betting on the area's continued growth. Neither Third & Urban nor RIG has disclosed specific tenant plans for the warehouse, but both parties have emphasized a commitment to preserving the building's historic industrial character while adapting it for modern use.