Charlotte’s Troubled Queen City Quarter Hits Market Amid Tenant Evictions and High Vacancy

Formerly known as the Epicentre, Charlotte's Queen City Quarter hits the market again as 75% of its retail units sit empty and major tenants face eviction orders.

By: AXL Media

Published: Mar 26, 2026, 11:27 AM EDT

Source: Bisnow

A Cycle of Foreclosure and Rebranding

The current crisis at Queen City Quarter follows a turbulent decade for the 2008-era development. In 2014, the complex was a premier asset, purchased by CIM Group for $130.5 million while boasting nearly full occupancy. However, a combination of rising crime concerns and the severe impact of the pandemic on high-density retail decimated the center's value. By 2021, the complex defaulted on an $85 million loan and entered receivership with a 70% vacancy rate.

Lender Deutsche Bank eventually took control of the asset for $95 million during a 2022 foreclosure auction. Following the takeover, the bank invested in renovations and a family-friendly rebrand to shed the "Epicentre" nightclub image. Despite these efforts, the center has lost eight businesses in the last six months alone, leaving only 12 of its 50 retail spaces occupied.

Escalating Tenant Evictions and Closures

Recent legal filings highlight the financial distress of the remaining vendors. Sea Grill Restaurant & Bar, which debuted in the Quarter less than two years ago, is currently facing an eviction order for nearly $96,000 in back rent. Additional fees have reportedly pushed that total past $144,000. Similarly, the planned Taste Cheesesteak Bar, a Philadelphia-based concept that failed to open after its October 2024 target, reportedly owes $25,608 in unpaid rent and fees.

Retailers are also feeling the strain. Privee Clothing Rhema’s Boutique is involved in a pending appeal over an eviction filing for past-due rent. High-profile departures have further hollowed out the complex, with a CVS pharmacy and the Tailored Smoke Cigar Lounge both confirmed as closed. The rapid exit of these tenants has left current operators concerned about the lack of foot traffic necessary to sustain business in the massive Uptown footprint.