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- June 30, 2020
- Deals, North Carolina, Our Company, Our People, Retail Real Estate
The 11,350-square-foot property is part of a larger, Kohl’s-anchored shopping center in Concord, N.C.
Thompson Thrift Development has sold The Shops at Christenbury, a 11,350-square-foot retail center in Concord, N.C. A private entity affiliated with Deville Developments purchased the asset for $7.1 million.
Marcus & Millichap represented the buyer, while The Shopping Center Group assisted the seller in the disposition.
Situated on roughly 2 acres at 8825 Christenbury Parkway, the retail asset is part of Christenbury Corners, a Kohl’s-anchored, 129,319-square-foot shopping center developed by Thompson Thrift in 2017. According to TSCG, The Shops at Christenbury was fully leased at the time of sale, with Aspen Dental, First Watch, Atrium Health and Brownlee Jewelers on the tenant roster.
Completed in 2019, the property is some 11 miles west of downtown Concord at one of the primary entrances to Highland Creek, Mecklenburg County’s largest residential neighborhood. The strip center is less than a mile from Simon Property Group’s Concord Mills Mall and 2 miles from Great Wolf Lodge Water Park.
TSCG Partner & Director of Investment Sales Anthony Blanco led the investment sales team representing Thompson Thrift. Marcus & Millichap’s IPA Senior Managing Director Erin Patton assisted the buyer. Patton was also part of a team arranging the $46 million recent sale of a 458,935-square-foot shopping center in Cuyahoga Falls, Ohio.
Original article appeared here.