The SRS Investment Properties Group successfully executed a high-exposure marketing strategy for Union Town Centre, touching each and every active grocery-anchored retail buyer in the investment community, enabling the team to garner nearly 10 solid offers on the Asset. After selecting the best buyer through two rounds of best and final offers, the due diligence and closing processes proceeded relatively smoothly despite the loss of a shop space tenant while under contract.
- Anchored by Food Lion with good lease term and growing sales
- Located in an extremely high growth sub-market of Charlotte, N.C.
- Opportunity to add value via available outparcel pads
- Suburban location outside Charlotte
- Tenant roster shift during the due diligence process
- Food Lion sales, while trending up, slightly below chain average
August 11, 2017
102,360 +/- SF
15.03 +/- AC