LMC, Lennar's multifamily arm, acquired a former Pepsi bottling facility in Charlotte for $18 million, according to the Charlotte Business Journal's Ashley Fahey.

The 5.2-acre site at the intersection of South Boulevard and New Bern Street, directly on the Lynx Blue Line New Bern Station, will be redeveloped to accommodate 432 apartments and 26,000 square feet of street-level retail.

The site offers an attractive location.

The site, which contained the Pepsi plant since 1938, will be home to a six-story building with apartments, retail and a nearly 800-space parking deck. Designed by Axiom Architecture and LandDesign, the property is oriented both toward the light rail, the Charlotte Rail Trail and South Boulevard.

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