NEWS

 

Despite recent uncertainty regarding the rumored closing of Our Town Cinemas, several long-term Sadler Square tenants report that they are definitely planning to stay put and that they feel positive about the new ownership and plans for the future of Sadler Square.

In February 2024, Sadler Square was sold to new owners, Sadler Square Property Owner LLC, c/o Piedmont Capital Real Estate LLC. Piedmont Capital is located in Charlotte and was founded in 2021.

On their website, Piedmont Capital describes themselves as “a real estate investment firm pursuing retail, office, hospitality, industrial and office assets in the Southeast. With a focus on core plus and value-add assets, we acquire properties with existing income in established or emerging locations with imminent long-term growth through appreciation of the underlying land.” As an investment, Davidson’s Sadler Square is a property with definite potential for growth, especially if it can reach full occupancy.

Veteran Sadler Square tenants Ben and Kay Son own BK Custom Cleaners, a dry-cleaning business. The dry-cleaning business has occupied a 4,000 square foot space on the side of Sadler Square near Watson Street since 1996. “We have been in this location almost 30 years and we want to stay here,” declared Kay Son, busily pulling clothing from their expansive rotating garment conveyer as a steady stream of customers came into the shop, and many others pulled up in the drive-through outside.

BK Custom Cleaners has a homey, lived-in feel, with a cheery yellow wall that reads “Welcome” and is decorated with hundreds of brightly colored buttons. The button design was created by Ben Son and their daughter many years ago. Kay Son says her husband Ben is a handyman who engineered and built the store’s large garment conveyer and all the counters and workspaces with his own hands.

Asked about the new ownership, both Ben and Kay said that they had met several times with Jonathan Stewart, a partner with Piedmont Capital, and that he was interested in hearing their ideas for improvements to Sadler Square. “The new owners are easy to contact, and they get back to us right away. We both have called with questions, and so has our daughter, and they are very nice and helpful,” said Ben Son.

The Sons say that they are looking forward to seeing what is in store for the shopping center. They are interested in improved signage at the road and in front of the business, and in finding the right new tenant for the empty space formerly occupied by Earth Fare. The Sons reported that their rent has not increased since the purchase of the property by Piedmont Capital.

The Beach Tanning & Beauty Spa at Sadler Square offers UV and sunless tanning, airbrush spray tans, and a variety of esthetic services including HydraFacials, waxing, lash extensions, and brow shaping and tinting. The owner, Hope Sams, has owned the business for 12 years. Her business was in Cornelius for five years before she moved to the Sadler Square location seven years ago. “I deliberately chose to move my business to Davidson, because I knew how supportive this community is of its small businesses.”

Sams is enthusiastic about the new ownership of Sadler Square. “The first contact they made to the current tenants was to ask what we needed, what they could do for us,” said Sams. “They were attentive and listened to our requests.”

Piedmont Capital has been the owner of Sadler Square for less than two months, and already there are visible changes, according to Sams. Like other tenants, Sams is interested in more visible signage for her Beach Tanning and Spa business to help draw in customers. While there is a large sign that is visible from Griffith Street, customers often pull into the parking lot and drive in circles looking for individual businesses. Sams mentioned that she would like a new individual sign in front of her business and was assured by Piedmont Capital that this was a top priority. Last week she saw a truck pull into the parking lot from a signage company, and a person was on the property taking measurements for new signs.

Sams shared that during her first conversation with Jonathan Stewart from Piedmont Capital, he specifically asked about her plans. She told him she had no plans to move from her current location. “He told me that their intention was ‘not to lose anyone’ and that he was glad that she planned to remain at Sadler Square,” said Sams. She also shared that it has been a stressful week, with many customers concerned that she might be closing. She is ready for the rumors to settle down so she can focus on work. “This is our busiest time of year!” she said.

The Egg Café at Davidson owners Robert and Eileen McCrary have been tenants at Sadler Square since 2006. Experienced restauranteurs, the McCrary family has owned and operated several restaurants in the Lake Norman area since 2006, including The Egg at the Lake (2006-2008), The Egg Cafe at Davidson, The Egg Cafe at Birkdale, and most recently, The Crazy Pig BBQ Taphouse at South Main Square. We reached out to Eileen McCrary, who is busy bouncing back and forth between The Egg and The Crazy Pig BBQ these days.

The Egg Cafe has been part of Davidson for 19 years. Sadler Square has been a stable and centrally located spot for the busy restaurant. McCrary said, “We feel that we have grown with the community. There are Egg customers who we knew as expectant parents, and their children have now grown up and come to work at the restaurant.”

The Egg is situated directly next door to Our Town Cinemas. Davidson moviegoers often enjoyed a meal or coffee at The Egg before a movie, and there always seemed to be a nice symbiosis between the two businesses. “When the news came out about the theater potentially closing, we were concerned and immediately reached out to the new owners,” said McCrary. “They were reassuring, and for now we feel at ease. We plan to have a meeting with them next week to speak more about the future.”

McCrary agrees that Piedmont Capital has been responsive to the tenants so far, and she has noticed that there are already improvements being made, and things around the property are being fixed. As for longer term plans, McCrary shared that the new owners had presented a straightforward three-part plan for Sadler Square that they shared with the tenants. They were focused first on operational transitions, then on making improvements in design, and third on locating a prospective tenant to occupy the former grocery store space.

Abrupt changes and uncertainty are stressful to small businesses, and after having weathered COVID and seen a bit of a return to normal, the tenants at Sadler Square are ready for long-term stability and are hoping for the best.