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Axiom Creative Group Buys 74-Year-Old, 10,000-SF Building for $66.50 Per SF

CHARLOTTE-The buyer plans to invest $900,000, on top of the $665,000 purchase price, restoring and converting the Joseph Sykes Brothers structure to offices for itself and Luminar Studios, an affiliate.

By Robert Anthony | Updated on November 30, 2000

CHARLOTTE- Industrial buildings and warehouses along West Morehead Street and the nearby Mint Street area continue to be salvaged and transformed into office space and other uses. The latest activity is Axiom Creative Group’s $665,000 purchase of the 74-year-old, 10,000-sf Joseph Sykes Brothers Building at Mint and Summit Avenue.

Although the $66.50 per-sf price is considered to be in the high range for an older asset, Axiom principals Brian Hill and Paul Jamison plan to invest another $900,000 restoring and converting the building to offices for their firm and a Web design affiliate, Luminar Studios. The work is expected to be finished in 10 months.

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